The Federal Authorities on Thursday stated a brand new batch of 146,065 profitable beneficiaries from 28 States have began receiving fee of the MSMEs Survival Fund’s Payroll assist monitor and the one-off Common MSME Grant.
In keeping with a press release by the presidency, over N13billion has been made out there for the Payroll Assist monitor, and over N2billion for the Common MSME Grant respectively.
The assertion says for the Payroll Assist monitor, the place beneficiaries are supported with a N30,000 or N50,000 grant monthly for a interval of three months have up to now supported a complete variety of 465,820 individuals.
Every beneficiary beneath this batch of fee will obtain the fee of N90,000 as three-months’ wage assist instantly from the Federal Authorities.
The scheme is estimated to avoid wasting not lower than 1.three million jobs throughout the nation and particularly impression over 35,000 people per state.
The states embrace Abia, Adamawa, Anambra, Bayelsa, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, and Jigawa.
Others are Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Sokoto, Taraba, Yobe, and Zamfar
The MSME Survival Fund, a element beneath the Buhari Administration’s Financial Sustainability Plan (ESP) is designed to assist weak Micro Small and Medium Enterprises (MSMEs) in assembly their payroll obligations, and to safeguard jobs within the MSMEs sector.
The ESP was accepted by President Buhari on June 24, 2020, as a N2.three trillion stimulus plan to mitigate the socio-economic results of the COVID-19 pandemic on Nigerians.
The Plan was developed by the Financial Sustainability Committee chaired by Vice President Yemi Osinbajo who the President additionally requested to guide its implementation.