‘Portal For Last 2 Components Of Survival Fund Scheme Opens Feb 9’

‘Portal For Last 2 Components Of Survival Fund Scheme Opens Feb 9’
Olayemi Esan, Abuja

The federal government has disclosed that the portal for the last two components of the Survival Fund scheme; the Guaranteed Offtake Scheme(GOS)and General MSMEs Grant, would open from11:59pm on Tuesday, February 9, 2021 to Thursday , February 18, 2021 .

Minister of State for Industry, Trade and Investment and chairperson, Steering Committee of the scheme, Ambassador Mariam Yalwaji Katagum, who made this known yesterday in Abuja, said this latest move is to build on the successes recorded in the implementation of the other components of the MSME Survival Fund scheme and in line with the plan to fully rejuvenate the economy especially micro, small and medium enterprises (MSMEs).

Katagum, while advising all interested MSMEs to go directly to the portal and register for either of the schemes free of charge, explained that the Guaranteed Offtake Scheme is tailored towards stimulating direct local production by enabling 100,000 MSMEs in the production sector with funds to produce post COVID lock down stimulus products.

These products include processed foods, hand sanitisers , face masks, liquid soap, disinfectant, grain, flour, oil, and spices.

State allocations for this scheme is Lagos State-3,880; Kano-3,280; Abia-3,080; others-2,640

The minister said the scheme would give preference to products produced in reasonably sufficient volumes in each state of the federation, ‘which have the proven propensity to create jobs and have a multiplier effect on the surrounding economy.’

On targeted beneficiaries, the minister said MSMEs registered in Nigeria and owned by Nigerians would get patronage from the government via procurement of products with a value of N150, 000 per business entity.

According to her, participating MSMEs are also required to have CAC registration with at least a business name certificate ; verifiable BVN and bank account number ; a minimum of two employees ; readiness to produce under NAFDAC and SON specifications.

She also explained that the General MSME Grant is meant to give a one-off N50,000 grant to 100,000 MSMEs who do not meet the qualification of the Payroll Support or Guaranteed Offtake Scheme as direct cash injection into their business.The state allocations for this scheme is same as the Guaranteed Offtake Scheme(GOS)

Katagum said qualified MSMEs and Individuals are those registered in Nigeria under the Corporate Affairs Commission; businesses owned by Nigerians, and business owners with verifiable BVN and account number.

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