MSME Survival Fund: Ensuring Nigerian MSMEs Survive
The COVID-19 pandemic has created severe Economic consequences for all countries around the world. Nigeria has also been very badly hit. The lockdowns have frozen economic activities, causing massive job losses and supply chain disruptions.
In keeping to its promise to support businesses overcome challenges posed by the pandemic, the Federal Government is set to implement the MSMEs Survival Scheme. The Scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard jobs in the MSMEs sector.
Target Beneficiaries
The scheme targets two categories of beneficiaries namely; employees of MSMEs and self-employed individuals. The Scheme have made provisions for a 45% female business participation and special needs participation of 5% .
Criteria
For Employees
- Employees’ company must be registered in Nigeria under the Corporate Affairs Commission (CAC).
- Must have BVN
- A staff strength of no less than 3 persons.
- Must be owned by a Nigerian.
For Self-employed Individuals
A. Service providers in the transportation sector;
- Bus drivers
- Taxi drivers
- Ride share drivers (Uber, Bolt, Taxify)
- Mechanics
B. Artisans;
- Electricians
- Plumbers etc.
Registration for Payroll Support begins on 21st September 2020
For More Information and Registration click HERE.
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