The Minister of State, Industry, Trade and Investment, Ambassador Mariam Katagum, has disclosed that over 300,000 beneficiaries under the Payroll Support scheme and 166,000 artisans have benefited from FG’s Survival Fund programme.
The statement was made by her during the first MSME stakeholders meeting in 2021, which held yesterday and was attended by the Vice-President of Nigeria and other key stakeholders.
The Minister stated that the implementation of the Survival Fund across different areas have lessened the burden of the pandemic on businesses in the country, as the support provided through the Survival Fund will go a long way in cushioning the impact of the pandemic, as observed in comments captured in the testimonies of beneficiaries of the various tracks under the scheme.
She revealed that the Survival Fund initiative of the Government has impacted over 300,000 beneficiaries under the Payroll Support Scheme, as the FG has successfully completed enumeration and disbursement to 166,000 Artisans as of December 2020,
In light of this, Mariam stated that the Federal Government, through the Survival Fund, has filled the gap created due to the pandemic.
Other stakeholders, including heads of government agencies, expressed their commitment to work together to impact more businesses in the MSMEs space in 2021.
What you should know
- The Survival Fund scheme was designed to cushion the economic effects of the COVID-19 pandemic, and the economic vulnerabilities which impacted the operating segment and income of small businesses.
- The scheme is a conditional grant under the Nigerian Economic Sustainability Plan, NESP, to support vulnerable MSMEs in meeting their payroll obligations and safeguard jobs in the MSMEs sector.