The Federal Government has commenced the disbursement of N30,000 one-time grant to 330,000 artisans across the country. The grant was launched across Lagos, Kano, Abuja and nine other states, as the first batch.
This was disclosed by the Personal Assistant to President Muhammadu Buhari on New Media, Bashir Ahmad via his Twitter handle on Tuesday evening.
READ: FG rolls out N2.3 trillion survival funds for MSMEs; see criteria
The grant, which is under the MSME Survival Fund, is part of the Nigerian Economic Sustainability Plan Initiated by the federal government on the 1st of July, 2020 to assist citizens and businesses operating in Nigeria.
He tweeted, “The first phase, which is tagged the Artisan/Transport Support Scheme, would focus majorly on 333,000 artisans for the beginning, which is 9009 from all the 36 states and the FCT and would then move to businesses operating in the transport sector at a later date.”
READ: Nigerian firm set to raise $1.2 billion to purchase electricity meters
As the implementation of the Economic Sustainability Plan progresses, the payment of N30k one-time grant to 330,000 artisans across the country is now in progress with Lagos, Kano, FCT and nine more States in first batch, a Statement from Office of the Vice President.
— Bashir Ahmad (@BashirAhmaad) October 27, 2020
Back story
Recall that Nairametrics had earlier reported that 174,574 people successfully registered for the N75billion MSME survival fund within 48 hours.
READ: AfDB approves $5 million for entrepreneurs under Tony Elumelu Foundation
What they are saying
Corroborating the latest information, Ahmad said: “As the implementation of the Economic Sustainability Plan progresses, the payment of N30k one-time grant to 330,000 artisans across the country is now in progress with Lagos, Kano, FCT and nine more States in the first batch.”
Why it Matters
The survival fund was designed to support vulnerable MSMEs to meet their different obligations and safeguard jobs in the sector.