* As FG Moves to Commence Disbursement of Survival Fund to Beneficiaries…
* And Payment of Payroll Support funds.
The Federal Government has announced its plan to commence the disbursement of fund to another set of micro, small and medium scale enterprises (MSMEs) across the nation this week.
In order to ease the economic implications of the COVID-19 pandemic on businesses across the nation. The Federal Government established the Nigerian Economic Sustainability Plan, NESP.
Under the NESP, FG has helped about 500,000 Nigerians in the areas of Payroll Support, grants to MSMEs, Free registration of business names with CAC and many more.
According to a statement signed by the Senior Special Assistant to the President on Media & Publicity, Laolu Akande, about 319,755 beneficiaries have been supported through the Payroll Support scheme.
Also, 265,425 beneficiaries have benefited from the Artisan and Transport Support tracks. And 172,129 business names registered free by CAC.
According to the statement, payment would be made to the next batch of beneficiaries of the ESP Survival Fund’s Payroll support track and the one-off General MSME Grant of N50,000 as from this week.
The General MSME Grant is a one-off grant of N50,000 that will be given to each qualified MSME as direct cash injection into their enterprise. The total number of beneficiaries in this track is 100,000 spread across the States.
The Economic Sustainability Plan (ESP) was approved by President Muhammadu Buhari on June 24, 2020, as a N2.3 trillion stimulus plan to mitigate the socio-economic effects of the COVID-19 pandemic. The Plan was developed by the Economic Sustainability Committee chaired by Vice President Yemi Osinbajo, SAN.