Breaking: FG confirms commencement of MSME Survival Fund payment to Beneficiaries

The Federal Government has, Thursday, announced the commencement of the Payroll Support Payments to additional 146,065 successful beneficiaries.

The President Mohammadu Buhari led administration in a tweet through the "Presidency Nigeria" verified official handle noted that a new batch of 146,065 successful beneficiaries of the Payroll Support Track across the Federation have started receiving their N30,000 Grant, adding that each of the beneficiaries would recieve a payment covering 3 months, amounting to N90,000 per beneficiary.

"Our @SurvivalFund_ng payments to qualified beneficiaries are continuing. A new batch of 146,065 successful beneficiaries from 28 States have started receiving payment of N30,000 each (per month),under the Payroll Support Track. Each beneficiary will be paid for 3 months = N90,000."

The Federal Government further confirmed the commencement of the one-off N50,000 payment to 46,117 beneficiaries of the General Grant Track of the Scheme, adding that the payment constitutes 50% beneficiaries of the MSME Survival Fund General Grant Track who would recieve one time N50,000 direct cash injection to boost their businesses.

"Under the @SurvivalFund_ng’s General MSME Grants track — a one-off grant of N50,000 to each qualified MSME as direct cash injection — 46,117 successful beneficiaries in the Federal Capital Territory (FCT) and 36 States have now started receiving their payments."

"This total makes up 50 percent of the required disbursement per State, for the General MSME grants track. Another batch that completes the target is forthcoming."

The MSME Survival Funds Scheme initiated by the President Mohammadu Buhari led administration is one of the several Schemes the Govermnent has employed to reduce the impact of the COVID-19 Pandemic on Micro, Small and Medium Enterprises (MSMEs) through the National Economic Sustainability Plan  (NESP).

According to the Presidency Nigeria, "the Plan was developed by the Economic Sustainability Committee chaired by Vice President @ProfOsinbajo, who the President also asked to lead its implementation.

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