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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.
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I am pleased to announce that 101,567 beneficiaries drawn from 16,253 businesses today received their first monthly payment from our Payroll Support Program. The program is a @SurvivalFund_ng Covid-relief initiative to support qualifying MSMEs with staff salaries for 3 months.
— Muhammadu Buhari (@MBuhari) November 18, 2020
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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
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.
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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.
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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We are still waiting for the survival fund to paid the agent I have call me but I’m still waiting for the money
I registered ten bvn, account number and phone number.two were screen out, eight were capture, verified and now activated,yet, only three staff got alert of thirty thousand each.why?(payroll).
Pls how many times are they going to pay Is just a one month or two or three pls wetin for your reply
I am victor ebitari jime, I was called but yet to receive my alert. Please confirm my payment as others have receiving theirs. My phone number is 0706462179
I registered 10 but 2 were screen out and only four out of the remaining eight got their alert.
COMFIRMED
i was verified but haven’t received any payment while others have receive theirs. please confirm my payment.
Our company and many of our employees have been verified but upto now we haven’t paid while others have received theirs please confirm ours
My company account and of 5 of my staff, account status and bvn status of 4 staff were verified, 1 staff was called on phone, but till now no payment has been made to any of the 4 that was verified. Pls confirm ours. Thanks.
“Message: #IGotSurvivalFund. C-CHUBANIX INT. FARMS & SERVICES. C-CHUBANEX INTEGRATED FARMS AND SERVECE in Chanchaga NIGER STATE. ID No. W5D4I9H. I am a beneficiary of Survival Fund. Thank you Federal Govt.” First payment CONFIRM
I never received my third payment My name maimunat Adam
Company name dan malam baba fish farm
Access Bank
I have been verified above one month now,and also 9 of my employees out of 10 were verified, but they didn’t call us,and also we haven’t see any alert, plzzz what’s the problem,abeg you look unto us.plzz thanks you