Survival fund: FG disburses N56.8bn to MSMEs

Survival fund: FG disburses N56.8bn to MSMEs

The Federal Government has announced disbursement of the sum of N56.

8 billion to 835,161 beneficiaries under the MSME Survival Fund scheme.

This was disclosed by Dr Evelyn Ngige, Permanent Secretary, Ministry of Industry, Trade and Investment, during the 13th meeting of the National Council on Industry, Trade and Investment on Monday in Ado-Ekiti, Ekiti state capital.

The event was themed “Micro, Small and Medium Enterprises Development in Nigeria: The Roles of Stakeholders.

Dr Ngige said, “On the N75 billion MSME Survival Fund, the programme has disbursed N8.

80billion to 293,336 beneficiaries under the Artisan Support and Transport Scheme, N43.

92 billion to 459,334 beneficiaries under the Payroll Support Scheme, and N4.

12 billion to 82,491 beneficiaries under the MSME Grant Scheme.

In total, the sum of N56.

84 billion has been disbursed to 835,161 beneficiaries under the MSME Survival Fund scheme.

She also disclosed that the trade Ministry had commenced activation of six private sector-led Special Economic Zones (SEZ) of Lekki, Enyimba, Funtua, lbom, Kano and Benue, through partnership with the Nigeria Export Processing Zones Authority to ensure the Authority delivers the establishment of three SEZs in 2022.

She said that in line with the Presidential directive for the establishment of at least one Agro-Processing Zone in each of the 109 Senatorial Zones, the Ministry has commenced the process of collecting agro-commodities data in 16 states.

She also disclosed the 16 states to benefit in the first phase of the programme to include Ebonyi, Plateau, Edo, Jigawa Ondo, Gombe, Abia, Benue, Osun, Sokoto, Zamfara, Enugu, Ekiti, Bauchi, Kebbi and Bayelsa states.

She revealed that the Ministry is ensuring credit access to 10 million MSMEs at a single-digit rate.

The Federal Government raised an alarm over fraudulent messages being circulated over the purported payment of N80, 000 to beneficiaries of the Survival Fund Scheme.

In its warning to the general public, the government maintained that the amount given to beneficiaries remain N30,000 and N50,000 for Payroll Support; N30,000 for Artisans and Transport Grants; N50,000 for the General MSMEs Grant; and N100,000 per MSME for the guaranteed off-take stimulus scheme.

Survival fund: FG disburses N56.

8bn to MSMEs

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