FG to open Guaranteed Off-Take scheme application portal for nine days
The Federal Government is set to commence the implementation of the Guaranteed Off-Take scheme which is expected to empower over 100,000 Micro, Small and Medium Enterprises (MSMEs) in the production of face mask, hand sanitiser, disinfectants and processed food from February 9 to 18, 2021.
Speaking in Abuja on Thursday, the chairperson of the Steering Committee on MSMEs Survival Fund and Guaranteed Off-Take Scheme, the Minister of State for Industry, Trade and Investment, Mariam Katagum said the initiative were efforts by the government to improve the economy of the country.
Katagum stated that President Muhammadu Buhari “on the 1st of July 2020 approved the National Economic Sustainability Plan (NESP) presented to him by Vice President Yemi Osinbajo whom he had earlier mandated to chair the National Economic Sustainability Committee.
“Two of the components approved under the Economic Sustainability Plan (ESP) are the MSMs Survival Fund and Guaranteed Off-take Scheme. The Steering Committee approved the implementation of the 2 Schemes in 5 distinct parts namely; the Payroll Support Scheme, Artisan and Transport Scheme, Formalisation Support Scheme, General MSMEs Grant and the Guaranteed Off-take Scheme.”
The minister noted that “the implementation of the Survival Fund is progressing steadily with the activation of three tracks across the country (Payroll Support Scheme, Artisan and Transport Scheme, and Formalization Support Scheme).
The Payroll Support Portal was reopened for 30 states that have not met their quota in the initial stage of the programme between January 27 and February 2, 2021.
“The implementation of the other components of the Scheme and in line with the plan to fully rejuvenate the economy especially Micro, Small and Medium Enterprises (MSMEs), the Federal Government is set to roll out the last two components of the MSME Survival Fund known as the Guaranteed Off-taker Scheme (GOS) and General MSMEs Grant.
“Under these two components, the portal will open from 11:59pm on Tuesday, 9th February 2021 to Thursday 18th February 2021 for the Guaranteed Off take Scheme (GOS) and General MSME Grant Applications.
“All interested MSMEs can go directly to the Portal and register for either of the Schemes free of charge.”
She stressed that “it is important to note that the purpose of Guaranteed Off-taker Scheme (GOS), is to stimulate direct local production by enabling 100,000 MSMEs in the production sector with funds to produce post-COVID lockdown stimulus products.
“The Scheme will give preference to products produced in reasonably sufficient volumes in each State of the Federation, which have the proven propensity to create jobs and have a multiplier effect on the surrounding economy.”
She also noted that “MSMEs registered in Nigeria and owned by Nigerians will get patronage from the government via procurement of products with a value of N150,000 per business entity.
“Participating MSMEs are also required to fulfil the following criteria to have CAC registration with at least a business name certificate, verifiable BVN and bank account number and have a minimum of two employees – readiness to produce under NAFDAC and SON specifications.
“Let me also note that the General MSME Grant is meant to give a one-off N50,000 grant to 100,000 MSMEs who do not meet the qualification of the Payroll Support or Guaranteed Off-take Scheme. A one-off grant of N50,000 will be given to each qualified MSME as direct cash injection into their business,” Katagum explained.
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