Breaking: Lagos records highest Payroll Supports Beneficiaries, all South West States Open for more beneficiaries

An update from the Project Delivery Office of the N75Billion MSME Survival Funds, Today, has disclosed that Lagos State has so far recieved a large number of 20,504 MSME Employees Beneficiaries in the Payroll Supports Scheme.

The report furthered that within the South West Geopolical Zone, all States remain Open to welcome more beneficiaries as follows:

Read Also: State by State Breakdown of the Payroll Support Scheme for the North West, North East, North Central, South East and South South

The Payroll Supports is a component of the MSME Survival Funds Scheme initiated in 2020 by the present administration, as part of its Economic Sustainability Plan to enable Micro, Small and Medium Enterprises  (MSMEs) in Nigeria recover from the economic downturn imposed by the COVID-19 Pandemic.

The Payroll Supports targets 500,000 Employees of duly registered MSMEs out of which over 280,000 employees of verified MSMEs and their Employers have so far received 3 months Salary Supports of N30,000 and N50,000 respectively per month.

Other Components of the N75Billion MSME Survival Funds Scheme are:

The Formalization Supports also known as Free CAC Registration through which 250,000 unregistered Micro, Small and Medium Enterprises would be registered free of charge with the Corporate Affairs Commision by the Federal Government as part of National Economic Sustainability Plan on MSMEs. The application for the Formalisation Support has been concluded in some States. 

The Artisan and Transport Supports through which 333,000 Artisans (Tailors, Plumbers, Bricklayers, Masons, Carpenters, Mechanic etc) and Transporters (Keke Riders, Okada Riders, Taxi Drivers, Bus Drivers etc) would benefit from a one time N30,000 to N50,000 Grant.

The Activation for the Artisan Supports has progressed in many parts of the country through 'clusters' capture as in Apo Mechanic Village in Abuja, Bariga in Lagos, Kofar Ruwa Market in Kano, Ariaria Market, Aba in Abia State, Sabon Kasuwa in Bauchi State etc.

Others are the General Grant of N50,000 to 100,000 MSMEs and Guaranteed Offtake Scheme for bulk purchase of Products from 100,000 Producers.

Read Also:MSME Payroll Supports: Why many applicants won't be paid and new application won't be accepted

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