Vice President, Prof Yemi Osinbajo, has announced that
beneficiaries nationwide will receive a one-time grant of N30,000 with Lagos,
Kano, State and Federal Capital Territory, FCT and nine more States in the
first batch.
He said that enumeration and verification are still ongoing
for Payroll Support Scheme
The VP said that free CAC Business Names’ Registration for
250,000 MSMEs has also commenced.
He said that as the implementation of the Economic
Sustainability Plan progresses, the payment of N30,000 one-time grant to
330,000 artisans across the country is now in progress.
“The payments are being made to sets of verified
beneficiaries of the Artisan Support Scheme, a track under the MSMEs Survival
Fund,” Osinbajo said in a statement made available by Laolu
Akande, his Spokesman.
“In the first stream of payments starting today,
beneficiaries are being drawn from the FCT, Lagos, Ondo, Kaduna, Borno, Kano,
Bauchi, Anambra, Abia, Rivers, Plateau and Delta States. They form the first
batch of applications for the scheme submitted between October 1 and October
10,” he added.
The MSMEs Survival Fund scheme is a component of the
Nigerian Economic Sustainability Plan, NESP, which was developed by an Economic
Sustainability Committee established by President Muhammadu Buhari in March
2020.
The President asked Osinbajo to head the committee which
produced and is overseeing the implementation of the plan.
Under the ESP, the Survival Fund is generally designed to,
among other things; support vulnerable MSMEs in meeting their different
obligations and safeguard jobs in the sector.
It would be recalled that applications for the Artisans’
Support Scheme under the MSMEs Survival Fund opened on October 1.
Meanwhile, the enumeration for the second stream of States
under the Artisan Support Scheme has also commenced with enumerators in various
States compiling the lists of artisans through their association leaders. All
artisans are expected to liaise with their association leaders to document
their details.
The registration of applicants for Stream 2 began on the
19th October 2020. States under Stream 2 are: Edo, Ogun, Ekiti, Katsina, Kebbi,
Kogi, Kwara, Enugu, Ebonyi, Adamawa, Taraba, Bayelsa
In the same vein, enumeration and verification of the
documents of applicants under the Survival Fund Payroll Support scheme is still
ongoing. Dates for the commencement of payment would be announced in due
course.
The application process for the payroll support scheme,
which began on September 21, had ended on the 15th of October 2020. Accepted
applications are categorized by industry sectors, including Education and
Hospitality, among other sectors.
However, there may be an extension for applications for some
States that have not met their quota on beneficiaries. The Artisan Support
Scheme is to benefit about 9,000 Nigerians per State and FCT.
In addition, the formalization support under the MSME Survival
Fund will also commence today. This involves free business names’ registration
for 250,000 MSMEs nationwide by the Corporate Affairs Commission (CAC).
According to the CAC, 6,606 business names in each of the 34
states will be registered for free. In Abuja, there would be 7,906 free
registrations, 9,084 in Lagos and 8,406 free business names from Kano.
Also, a date for the commencement of the Guaranteed Offtake
Scheme under the Survival Fund will be announced soon. This scheme is designed
to safeguard existing small businesses and save jobs, while ensuring continued
local production by guaranteeing off-take of priority products
The Offtake Scheme is a track specifically for MSMEs that
are into production of items approved by the Steering Committee of the Survival
Fund coordinated under the leadership of the Industry, Trade and Investment
Minister of State Ambassador Mariam Katagum. The basic requirements include a
CAC certificate, valid BVN, SON or NAFDAC certification.
The N2.3 Trillion Economic Sustainability Plan consists of
fiscal, monetary and sectoral measures to enhance local production, support
businesses, retain, create jobs and provide succour to Nigerians, especially
the most vulnerable.
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