N17bn survival fund: FG begins registration of artisans, transporters October 1

The Federal Government would commence registration for the disbursement of survival fund to artisans and transport workers on October 1st 2020.

The federal government, through the Ministry of Industry, Trade and Investment had formally opened the registration portal of its payroll support track of the N17billion MSME Survival Fund on the 21st of September, starting with the educational sector.

The portal is to help with the digital registration, onboarding and monitoring of Micro, Small and Medium Enterprises (MSME’s) Survival Fund program.

The program includes payroll support, guaranteed offtake and MSME grant.

Speaking in Abuja, the Minister of State for Industry, Trade and Investment, Mariam Katagum stated that under the Payroll Support category, the government would support MSME payroll obligations by paying between N50,000  and N30,000  to workers for three months.

Katagum explained that this category would target 500,000 individual beneficiaries in the hospitality industry, private schools, factory owners, law firms, hospitals etc.

The registration for the payroll support which started with the educational institutions on September 21, 2020, and was followed by businesses in the hospitality industry on September 25, 2020, will open registration for those in the artisan/transport category on October 1, 2020, according to government schedule.

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Katagum said that the scheduling of the registration for prospective beneficiaries is to ensure that the process is seamless and hitch-free.

She explained further that special focus would be given to 45 per cent female-owned MSMEs and 5 per cent special needs- owned MSMEs.

The Minister noted that the MSMEs Survival Fund scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard jobs in the MSMEs sector. The scheme is expected to save at least 1.7 million jobs across the country.

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