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Survival Fund: FG assures Nigerians that beneficiaries will be evenly distributed across states

The Presidency has disclosed that the Survival Fund beneficiaries will be evenly distributed across the states of the country.

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Mr. Laolu Akande, the Senior Special Assistant for Media and Publicity to the Vice President, Prof. Yemi Osinbajo, has disclosed that the Survival Fund beneficiaries will be evenly distributed across the states of the country.

This disclosure was made today by Laolu Akande, in a tweet via his official Twitter handle.

According to his statement, Mr. Akande said the beneficiaries of the Survival Fund will be evenly distributed across states in the country, while Lagos, Kano, and Abia States will get a marginal increase in beneficiaries allotted to them.

Highlights

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  • 13,000 beneficiaries have been enrolled for Payroll Support per state in three months
  • 2,640 beneficiaries have been enrolled for N50,000 MSME Grant per state.
  • 6,606 businesses per state will benefit from the free CAC company registration per state.
  • 9,009 beneficiaries per state will get N30,000 Artisan & Transport Grant.
  • 2,640 individuals are billed for Guaranteed Off-take Scheme per state.

He concluded that the Economic Sustainability Plan (ESP) is in progress, and Nigerians should look out for more information from the Buhari administration and urged them to take advantage now.

What you should know

Nairametrics reported 2 weeks ago that the Federal Government has commenced the disbursement of N30,000 one-time grant to 330,000 artisans across the country.

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The grant under the MSME Survival Fund, is part of the Nigerian Economic Sustainability Plan initiated by the FG on the 1st of July, 2020 to assist citizens and businesses operating in Nigeria.

4 Comments

4 Comments

  1. Aishatu Abubakar

    November 10, 2020 at 7:39 pm

    Kindly pls when are we going to start receiving our grants we the payroll support from hospitality section of the survival fund scheme

  2. Anonymous

    November 13, 2020 at 10:21 am

    Please is the free CAC registration just a registering alone or will it come along with grant. Pls I’ll appreciate it if am given a genuine reply

  3. Paul Sunday

    November 13, 2020 at 10:25 am

    Please is the free CAC registration just a registering alone or will it come along with grant. Pls I’ll appreciate it if am given a genuine reply.

  4. Ahmad Umar Gurza

    November 19, 2020 at 6:14 am

    Alhamdulillah. Myself and other teachers in the school where I work here in Kaduna received the 30,000 Naira from the survival scheme.
    Unfortunately it has turned something different because of the school interest on the fund.
    Nigeria Oni baje.

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MSME

Payroll Support Program: FG pays 101,567 beneficiaries first-month salary

The President announced thousands of beneficiaries received their first monthly payment from our Payroll Support Program.

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President Muhammadu Buhari has announced that 101,567 beneficiaries, drawn from 16,253 businesses, received their first monthly payment from the Payroll Support Program yesterday.

This information was disclosed in a tweet by the official Twitter handle of the President.

READ: FG to slash import duties on tractors, buses, others in 2020 Finance Bill

READ: NCC tops lists of 25 most ethically-compliant regulators in Nigeria

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The President also disclosed that the program is an initiative by the Federal Government of Nigeria to ensure that Nigerian MSMEs survive, as the Federal Government supports qualifying MSMEs with staff salaries for 3 months.

READ: How FG saved over N206 billion in 2 years -IPPIS

Why this matters

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The stimulus package would go a long way to assist businesses in averting massive job loss or a crash of the business enterprise. The fund is expected to place affected businesses, which are beneficiaries of this fund, on the path of survival and sustainable growth.

READ: FG says 174,574 successfully register for N75 billion MSME survival fund in 48 hours

What you should know

In July, Nairametrics reported that the Federal Government had announced plans 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.

READ: FG proposes a reduction of minimum tax rate next fiscal year

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The stimulus package, which is under the National Economic Sustainability Plan (NESP), includes payroll support for three months and guaranteed off-take schemes, among others.

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A month ago, Nairametrics reported that 70,000 businesses in Nigeria had been shortlisted from the 432,000 businesses that applied for the Payroll Support from the Federal Government’s Survival Fund Grant Scheme.

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MSME

Development Bank of Nigeria disbursed over N150 billion in 3 years

52% of loans disbursed by Development Bank of Nigeria in 2019 were to youths and women-owned businesses.

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Development Bank of Nigeria , Companies Allied Matters Act (CAMA)

Development Bank of Nigeria has disbursed over N150 billion since 2017 through twenty-seven (27) participating financial institutions, impacting close to 100,000 MSMEs through the process.

This is according to a disclosure by the Government of Nigeria, as seen by Nairametrics.

READ: CBN’s NCR facilitates N1.2 trillion loan For 155,000 MSMEs

READ: DBN meets SMEs’ financial need with over N70 billion

What you should know

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A verified tweet by the Government revealed that in 2019, 52% of the loans disbursed by the Development Bank of Nigeria were to youths and women-owned businesses.

READ: MSMEs crucial to providing employment to growing workforce – Peugeot Boss

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What they are saying

The Government of Nigeria tweeted “#DYK 52% of loans disbursed by @DevBankNG in 2019 were to youths and women-owned businesses. Since 2017, the Bank has disbursed more than N150 billion through 27 Participating Financial Institutions (PFIs), impacting close to 100,000 MSMEs.”

READ: DMO offers N50 million worth of FGN savings bond for subscription

Why it matters

The recent disclosure is in line with the present regime’s drive to diversify the economy and expand opportunities for youths and women, bridging the social exclusion gap, and ensuring prosperity for all.

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(READ MORE: #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities)

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The efforts by the Development Bank of Nigeria complements other social programmes introduced by the government and targeted towards Youths and Women, such as the Special Grant to Rural Women, Nigeria Youth Investment Fund, National Young Farmers Scheme, amongst others.

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MSME

FG commences disbursement of N20,000 special grant to rural women

Special grant project will see over 700,000 women empowered with N20,000 each.

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The Federal Government has commenced the disbursement of the N20,000 special grant to women in rural areas of Gombe state.

This is according to a verified tweet by the Federal Ministry of Humanitarian Affairs, as seen by Nairametrics.

Recall that Nairametrics had earlier reported the flag-off of the special grant project for rural women, initiated by the Federal Government, which will see over 700,000 women empowered with N20,000 each.

What they are saying

Commenting on the latest development, the verified tweet reads thus:

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MAKE GOOD USE OF THE CASH GRANT”– Umar Faroq tells Rural Women.

The HM @FMHDSD @Sadiya_faroq has urged rural women in Gombe state to use the one-off cash grant given to them by the federal government to improve the lives of their families.

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What you should know

The rural women’s programme was introduced in 2020 by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development as part of President Muhammadu Buhari’s social inclusion and poverty reduction agenda.

It includes the realization of the national aspiration of lifting 100 million Nigerians out of poverty in 10 years.

The Grant for Rural Women is designed to provide a one-off grant to some of the poorest and most vulnerable women in rural Nigeria.

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