FG commences disbursement of N75bn as palliative for MSMEs

The Federal Government has commenced the disbursement of the Micro Small and Medium Enterprises (MSMEs) N75billion Survival Fund and Guaranteed Off-take Stimulus schemes. This is on the platform of Nigerian Economic and Sustainable Plan (NESP).

The Minister of State, Industry Trade and Investment Ambassador Mariam Katagum stated this in Abuja at the World Press Conference during the kick off of the National MSMEs’ Survival Fund and the Guaranteed Take-off Stimulus Scheme.

Katagum said in keeping to its promise to support businesses overcome challenges posed by the COVID-19 pandemic, the government is set to commence implementation of two MSMEs’ initiatives, namely, the MSME Survival Fund and the Payroll Support schemes, as the first to be rolled out with N60 billion and then, the Guaranteed Off-take Scheme, N15 billion.

Katagum noted that both schemes are at the core of the N2.3 trillion stimulus package also known as the NESP being implemented by the Buhari Administration to help cushion the impact of the COVID-19 pandemic to boost the economy by saving jobs and creating new job opportunities.

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