MSME Survival Funds: General Grant, Guaranteed Offtake Scheme set to commence

The Steering Committee of the MSME Survival Fund and the Guarantee Offtake Scheme led by Ambassador Mariam Katagum has announced that the N75 Billion MSME Survival Funds application portal https://www.survivalfund.gov.ng will reopen for the General Grant and Guaranteed Offtake Scheme on 9th February, 2021.

The General Grant Track is a component of the Federal Government MSME Survival Funds whereby 100,000 qualified MSMEs across the 36 States plus FCT would recieve a one-time grant of N50,000 to boost their businesses.

Announcing the schedule of the Schemes, the PDO stated that all potential beneficiaries of the General Grant must meet the following criteria:

i. Must be a Nigerian National.

ii. Must have a business registered with the Corporate Affairs Commision.

iii. Must possess a verifiable Bank Verification Number (BVN).

The Guaranteed Offtake Scheme on the other hand is a component of the MSME Survival Funds whereby 100,000 producers under the Micro, Small and Medium Enterprises scale of business would witness a bulk purchase of their Products by the Federal Government. 

Breaking down the distribution of the required beneficiaries of the Guaranteed Offtake Scheme, the Project Delivery Office of the MSME Survival Funds stated that 2,640 MSMEs would benefit from the Scheme across the States of the Federation except the hub of MSMEs in Nigeria: Lagos, Kano and Abia that would witness higher number of 3,880, 3,280 and 3,080 Beneficiaries respectively. 

The PDO noted that Products considered under the Guaranteed Offtake Scheme are as follows:

CATEGORY A (Lot 1) - Sanitisation and Cleaning Materials

Lot 1 - PRODUCTS 

i. Face Mask

ii. Liquid Soap

iii. Disinfectant 

iv. Hand Sanitiser

CATEGORY B - Processed Food 

Lot 2 - GRAINS

i. Beans

ii. Garri

iii. Acha

iv. Alkama - Wheat

v. Brabusco

vi. Rice (Parboiled)

vii. Rice (Raw) - Paddy

Lot 3 - FLOUR

i. Yam Flour

ii. Plantain Flour

iii. Soya Bean Flour

iv. Garin Dawanke

v. Cassava Flour

Lot 4 - OIL

i. Palm Oil 

ii. Groundnut Oil

iii. Coconut Oil

iv. Honey

Lot 5 - SPICES

i. Dry Locust Beans 

ii. Curry Powder

iii.Tumeric Powder

iv. Ginger Powder

v. Garlic Powder

Stating the criteria for benefiting from the Guranteed Offtake Scheme, the Project Delivery Office of the MSME Survival Funds Scheme stated that potential beneficiaries of the Scheme must meet the following:

i. Applicant must be a Nigerian National.

ii. Applicant business must be registered with the Corporate Affairs Commision. 

iii. Applicant must be ready to produce under NAFDAC and SON specifications.

iv. Applicant must have a verifiable Bank Verification Number (BVN).

v. Applicant must have at least 2 Staff Members.