The Minister of State for Industry, Trade and Investment, Mariam Katagum, has announced that 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,
She said the project which targets 1.7 million individuals and entities across the country would run for an initial period of three months.
The minister also said that the project made provisions for 45 per cent female-owned businesses and five per cent for those with special needs.
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 according to Punch report.
She urged MSMEs to take full advantage of the Survival Fund and Guaranteed Off-take schemes to improve their businesses.
The federal Government had in August announced that it is set to roll out the implementation of the “Guaranteed Off-take Scheme for MSMEs and Survival fund to designated sectors” recommendations, issued for supporting small businesses in the Nigeria Economic Sustainability Plan (NESP).A to help in cushioning the impact of the Covid-19 pandemic.
According to Katagum the Survival Fund and Guaranteed Off-take schemes were at the core of the N2.3tn stimulus package of the Federal Government.
Katagum said “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 five 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.