According to Nairametrics, The Federal Government of Nigeria released guidelines to access the N75 billion MSME Survival Fund.
Published on September 23, 2020 By Chike Olisah MSME, How to register for FG’s N75 billion MSME survival funds, Small Businesses in Nigeria
The Federal Government has released the guidelines to access the N75 billion Micro, Small and Medium Enterprises (MSME) Survival Fund and Support Initiatives, which took effect from September 21, 2020.
The scheme, which is the core of the N2.3 trillion stimulus package of the Nigerian Economic Sustainability Plan includes the N60 billion MSMEs Survival Fund and the N15 billion Guaranteed Offtake Schemes.
This disclosure was made in an official statement by the Federal Government through a series of tweet posts on its official Twitter handle.
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The statement from FG read, “As the portal for the registration of prospective beneficiaries of Survival Fund opens, interested Nigerians in the Payroll Support Scheme are to note that the site will be open from 10 pm Monday, September 21, 2020.”
The statement says that the registration for the payroll support will start with the educational institutions at 10 pm Monday, September 21, 2020, and will be followed by businesses in the hospitality industry by 12am Friday, September 25, 2020.
The portal will also open for other categories of small businesses from 12am today Monday, September 28, 2020.
It should be noted that the scheduling of the registration for prospective beneficiaries is to ensure that the process is seamless and hitch-free. The registration of every sector is to continue until Thursday, October 15, 2020.
Eligible businesses must have the following requirement;
- Employees’ company must be registered in Nigeria under the Corporate Affairs Commission, CAC, and SMEDAN Unique Identity Number (SUIN)
- Must have BVN by company CEO
- Must have a staff strength of no less than 3 persons
- Must be owned by a Nigerian
There are three (3) types of registration:
MSME Payroll Support