By Francis Ogwo
The Federal Government under the Nigerian Economic and Sustainable Plan (NESP) has commenced the disbursement of the Micro Small and Medium Enterprises (MSMEs) N75billion Survival Fund and Guaranteed Off-take Stimulus schemes.
The Minister of State, Industry Trade and Investment, Ambassador Mariam Katagum, disclosed this in Abuja at the World Press Conference during the kick-off of the National MSMEs’ Survival Fund and the Guaranteed Take-off Stimulus Scheme on Monday.
According to Katagum, the government is set to begin the implementation of two MSMEs’ initiatives, namely, the MSME Survival Fund and the Payroll Support schemes, as the first to be rolled out with N60 billion and then, the Guaranteed Off-take Scheme, N15billion.
This, he said, are part of the fulfilment of the governments promise to help in cushioning the harsh effects of the COVID-19 pandemic on small businesses.
Katagum further stated that both schemes are part of the N2.3 trillion stimulus package also known as the NESP initiated by the current administration to support small business in the post COVI-19 era with long lasting impact on job creation.
It would be recalled that the NESP, which was initiated by President Muhammadu Buhari on March 30, 2020 and approved by FEC on June 24, 2020, is chaired by Vice President Yemi Osibanjo and the ministers of Industry Trade and Investment as members.
Other members include the Group Managing Director Group Managing Director of Nigerian National Petroleum Corporation (NNPC) and the Central Bank of Nigeria (CBN) Governor.
