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MSME SURVIVAL FUND-

FLAG-OFF OF THE IMPLEMENTATION OF 75 BILLION NAIRA MSME SURVIVAL FUND AND GUARANTEED OFF-TAKE SCHEMES (GOS) FOR MSMEs

MSME SURVIVAL FUND
FLAG-OFF OF THE IMPLEMENTATION OF 75 BILLION NAIRA MSME SURVIVAL FUND AND GUARANTEED OFF-TAKE SCHEMES (GOS) FOR MSMEs

In keeping to it’s promise to support businesses overcome challenges posed by the COVID-19 pandemic, the Federal Government, is set to commence nationwide implementation of two MSMEs initiatives namely; the MSMEs Survival Fund with the Payroll support track as the first scheme to rollout (60Billion Naira) and the Guaranteed Offtake Scheme (15Billion Naira).

Both schemes are at the core of the N2.3 trillion stimulus package (also known as the Nigerian Economic Sustainability Plan, NESP) being implemented by the Buhari administration to help cushion the impact of the COVID-19 pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.

MSMEs SURVIVAL FUND

The scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard jobs in the MSMEs sector.

The scheme is estimated to save not less than 1.3million jobs across the country and specifically impact on over 35,000 individuals per state.
Other details include:

Duration: The scheme will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic.

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