MSME Survival Funds: Nigerian Youths record keen participation - PDO reports

Nigerian Youths have displayed tremendous participation in the N75Billion MSME Survival Funds Scheme according to a recent report from the Project Delivery Office the Programme, Wednesday, 27th January, 2021.

The MSME Survival Funds Scheme is one of the Economic Sustainablity Plans initiated by the President Mohammadu Buhari led administration to cushion the effect of COVID-19 Pandemic on Small and Medium Enterprises in Nigeria which features the 3months N30,000/N50,000 MSME Employees' Payroll Supports Scheme for 500,000 Nigerians; the N30,000 one-time Artisan/Transport Supports Scheme for 333,000 Nigerians in the Artisan/Transport sectors; the Formalisation Supports Scheme also known as Free Business Name Registration for 250,000 unregistered MSMEs in Nigeria; the one-time N50,000 General Grant to 100,000 Nigerians and the Guaranteed Offtake Scheme for bulk product purchase from 100,000 Producers under the Micro, Small and Medium Enterprise categories in Nigeria.

According to the recent report from the PDO, 242,746 Nigerian Youths have so far benefited from the Payroll Supports Scheme constituting 82% of the 296,032 current beneficiaries of the Scheme. Awesome!

The PDO furthered that out of 100,000 current beneficiaries of the Formalization Supports Scheme (Free CAC Registration), 92,000 youths constituting 92% of the total beneficiaries have emerged fit to secure their Corporate Affairs Commision business registration certificates.

The report however indicated less participation of the Youths in the Artisan/Transport Suppots Scheme as only 39% of the 166,000 Beneficiaries are of the age bracket.

The Payroll Supports Scheme today entered it's second day as the Federal re-opens the Payroll Supports Registration Portal https://www.survivalfund.gov.ng for States that have not completed their quotas, which would last for 7 day from January 27th, 2021 to 2nd February, 2021.

Rea Also: Eligible States and Number of Beneficiaries needed in the New Payroll Supports Application

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