70,000 businesses in Nigeria have been shortlisted from the 432,000 businesses that applied for the Payroll Support of the Federal Government’s Survival Fund Grant Scheme. Many states did not meet their quota and plans are ongoing to seek an extension after the portal closed 5 days ago.
Mr. Tola Johnson, the Project Coordinator of PDO and Special Assistant to the President on Micro, Small and Medium Enterprises (MSMEs), confirmed this to the DailyTrust.
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Back story
Nairametrics had earlier reported plans by the FGN to roll out a N2.3 trillion stimulus package and survival fund for Micro, Small, and Medium Enterprises (MSMEs) to stay afloat amid the economic challenges imposed by the pandemic.
The survival fund includes payroll support for three months and a guaranteed off-take scheme among others, all under the National Economic Sustainability Plan (NESP).
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What they are saying
Commenting on the latest development, Mr. Johnson said, “As at the day the portal closed to applicants for Payroll Support Scheme, we had 432,000 businesses that applied. However, we have shortlisted 70,000 that met the requirements. These businesses have uploaded over 400,000 staff for us to pay for three months.’’
Mr. Johnson pleaded for an extension, noting that though the portal closed on the 15th of October, 2020, many states did not meet their quota
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“The Project Delivery Office, which I head, is taking this plea for an extension to the Steering Committee headed by the Minister of State for Industry, Trade and Investment, Ambassador Mariam Katagum.
“To know whether to extend the date for online application into the payroll support scheme will be based on the data available to us.’’
He concluded by emphasizing the need for BVN and digitalizing the process, noting that business owners will not be paid directly. Only their staff will be paid subject to the provision of BVN.
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Why it matters
The support is a kind gesture by the FG, aimed at alleviating the impact of the pandemic on MSMEs. It is a way of averting massive job loss, creating income for the staff, and stimulating the economy, as the impact of MSMEs in developing the economy can not be overemphasized.
All said and done, please how do we see the list and know if our company is shortlisted?
This is what I have been looking for since some applicants of Akwa Ibom extraction have told me (whose Enterprise is based in Rivers State )
that they have received.
How can I see the shortlisted schools?
Will company’s that pay cash by hand benefit ?
The name of short list will published?
Federal govt should go ahead and pay the already shortlisted persons rathe that delaying the grant.There’s hunger already in the land
The fg should include those micro businesses that pay monthly salaries by cash register, as not all businesses pay their employees through bank. An ice block making business with six orso employees does not have to pay workers through bank, same as satchet water, or welding plant, especially in the core north.
How do you know that your company was shotlisted
How do you know that your company was shotlisted
how will i know if my company is shortlisted because i need to know this asap
how will i know if my company is shortlisted
how will i know if my company is been shortlisted
I’m one of the beneficiary