FG Begins Registration for N75bn MSME Schemes Monday

The registration portal for the N75 billion Micro, Small and Medium Enterprises Survival Fund and Guaranteed Off-take schemes of the Federal Government will be opened on Monday, the Minister of State for Industry, Trade and Investment, Mariam Katagum, has announced.

 

According to her, the project, which would run for an initial period of three months, would be opened for 1.7 million entities and individuals across the country.

 

The minister disclosed this in a statement issued in Abuja on Saturday by the Assistant Director, Information, Federal Ministry of Industry, Trade and Investment, Oluwakemi Ogunmakinwa.

 

Katagum explained that the Survival Fund and Guaranteed Off-take schemes were at the core of the N2.3tn stimulus package of the Federal Government.

 

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The N2.3tn stimulus package, also known as the Nigeria Economic Sustainability Plan, is being implemented by the Federal Government to cushion the impact of the COVID-19 pandemic on the country’s economy.

 

Katagum said the implementation of the plan was with a view to boosting the economy by saving existing jobs and creating new job opportunities.

 

She was quoted as saying, “The project, which will run for an initial period of three months, is targeting 1.7 million entities and individuals and has provisions for 45 per cent female-owned businesses and fiver per cent for those with special needs.

 

“The registration portal for the schemes is set to open on Monday, September, 21, 2020, and I urge you (MSMEs) all to take full advantage of the schemes.”

 

Katagum, who chairs the steering committee for the effective implementation of the projects, said the initiatives came at a time when financial support was critical for MSMEs.

 

“Most of them have greatly been negatively impacted due to the economic downturn arising from the COVID-19 pandemic,” she stated.

 

She urged MSMEs to take full advantage of the Survival Fund and Guaranteed Off-take schemes to improve their businesses.

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