President Muhammadu Buhari on Wednesday said 101,567 beneficiaries drawn from 16,253 businesses have received their first monthly payment from Payroll Support Program.
The President disclosed this on his official Twitter page.
He said, the program is a Survival Fund COVID-19 Relief initiative to support qualifying MSMEs with staff salaries.
According to report; “the beneficiaries form the first batch of applications for the scheme submitted between October 1 and October 10.
It indicated that in the first stream of payments, beneficiaries were drawn from the FCT, Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia, Rivers, Plateau and Delta States and they received N30,000 one-time grant to 330,000 artisans across the country.
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.
Meanwhile, Vice President Yemi Osinbajo was nominated by President Muhammadu Buhari 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.