The Federal Government through its N2.3 Trillion Economic Sustainability Plan is set to support Medium and Small Scale Entreprises (MSMEs) in the country.
This was disclosed in a statement by the Chairman of the Economic Sustainability Committee and Vice President of the Nation, Prof. Yemi Osinbajo, on Tuesday, 27th October, 2020.
“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.”, he said.
Below is a list of the MSMEs Survival Programme available for you.
One-time Grant for Artisans: The Vice President has publicised the commencement of the payment of N30,000 one-time grant to 330,000 Artisans across the country.
The first stream of commenced with FCT, Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia, Rivers, Plateau, and Delta States.
The application for the second stream also began on the 19th of October, 2020. Enumerators have commenced the compilation of the list. States categorised under the stream 2 include Edo, Ogun, Ekiti, Katsina, Kebbi, Kogi, Kwara, Enugu, Ebonyi, Adamawa, Taraba, and Bayelsa.
Applicants, must have documented their information with their association to be a beneficiary of the programme for MSMEs.
MSMEs Survival Fund Payroll Support Scheme: This scheme is targeted at business owners to recuperate them after the negative Implications of the Coronavirus pandemic. Business owners across industrial sectors, including Education and Hospitality, among other sectors get to benefit for this scheme. Although, the registration for this programme ended on the 15th of October, 2020, the Vice President has expressed that “there may be an extension for applications for some States that have not met their quota of beneficiaries.”
Free Business Name Registration: Through it Formalization Support Scheme, the Federal Government has paid for the registration of 250,000 businesses with the Corporate Affairs Commission (CAC). 6,606 businesses to be registered in 34 states each, 7,906 businesses has been targeted in Abuja, 9,084 in Lagos State while 8,406 businesses have been targeted in Kano State.
Click this link for more information about this programme.
Guaranteed Offtake Scheme: The programme has been “designed to safeguard existing small business and save jobs while ensuring continued local production by guaranteeing off-take of priority products.” The target beneficiaries of the Guaranteed Off-take scheme are MSMEs dealing in production services. Requirements include CAC certificate, Valid BVN, SON/NAFDAC Certification.
Nigerians are hereby enjoined to partake in this programme as it is designed for the growth and survival of Nigerians “most especially the vulnerables.”