FG to reopen MSME survival fund payroll assist portal in 30 states

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The Federal Government has introduced that the MSME Survival Fund Payroll Support Portal will probably be exceptionally reopened for 30 states which were unable to fulfill their quota.

The authorities in its announcement stated that the scheme, which is aimed toward supporting susceptible MSMEs within the payroll obligations of over 500,000 staff for a interval of three months, will probably be opened from January 27 to February 2, 2021.

This disclosure was contained in an announcement that was issued by the mission supply workplace of the scheme on Wednesday, January 27, 2021.

According to the assertion, the Steering Committee of the MSMS Survival Fund and the Guaranteed Offtake Scheme which is chaired by the Minister of State, Federal Ministry of Industry, Trade and Investment, Mariam Katagum, famous that Benue, Plateau, Bauchi, Kano, Kaduna and Rivers States, along with the Federal Capital Territory, have all met their quota and as such aren’t eligible to take part within the reopening train.

The assertion from the Project Delivery Office of the scheme partly reads, ‘’The Steering Committee of the MSME Survival Fund and the Guaranteed Offtake Scheme Chaired by the Hon. Minister of State, Federal Ministry of Industry, Trade and Investment, Ambassador Mariam Katagum needs to tell the general public that the MSME Survival Fund Payroll Support Portal will probably be exceptionally reopened for states that haven’t met their quota.

‘’The portal will probably be opened from 27th January to 2nd February 2021.’’

‘’To date, the next states have met their quota and are consequently NOT ELIGIBLE to take part within the reopening train. The states are; Benue, Plateau, Bauchi, Kano, Kaduna and Rivers and the FCT.’’

In the assertion, the Federal Government reminded the general public of the next qualification necessities for participation;

  • Businesses will need to have CAC registration
  • Businesses will need to have a minimal of 10 and most of fifty workers
  • Business should be owned by Nigerians
  • Must have verifiable BVN
  • The Scheme offers for 45% feminine participation and 5% Special Needs participation.

While noting that registration for the scheme is free, the federal government suggested the general public to watch out for fraudsters and may go to www.survivalfund.gov.ng for additional particulars.

What it is best to know

  • The N60 billion MSME Survival Fund and the N15 billion Guaranteed Offtake Scheme, which is the core of the N2.3 trillion stimulus bundle of the Nigerian Economic Sustainability Plan, was flagged off on September 21, 2021.
  • The 2 MSMEs initiatives had been launched by the Federal Government as a part of its efforts to assist companies overcome challenges posed by the Covid-19 pandemic.
  • The MSMEs Survival Fund scheme is a conditional grant to assist susceptible micro and small enterprises in assembly their payroll obligations and safeguard jobs within the MSMEs sector.
  • The scheme is predicted to save lots of at the very least 1.3 million jobs throughout the nation and particularly affect on over 35,000 people per state.

 

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