The Federal Government has called on Nigerians especially Service providers in the transportation sector like Bus drivers, Taxi drivers, Mechanics and Artisans, like Electricians Plumbers, others to apply for Survival Fund.
It said, the portal will be opened tommorow, Monday, September 21, 2020, therefore, interested Nigerians can apply for the programmes below:
(i) MSMEs Survival Fund programmes
PAYROLL SUPPORT – Supports 500,000 thousand MSMEs in meeting payroll obligations of between 30 thousand Naira to 50 thousand Naira per employee over the period of three (3) months.
FORMALISATION SUPPORT – Provide free CAC business name registration for 250,000 businesses.
ARTISAN/TRANSPORT SUPPORT – Provides 333000 artisans and transport business operators with a 30,000 operation grant to reduce the effect of income loss.
GENERAL GRANT – Support the survival of 100,000 businesses most affected by the covid-19 pandemic with 50,000 Naira each.
Duration: The scheme will run over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic.
Target Beneficiaries: The scheme targets two categories of beneficiaries namely: employees of MSMEs and Self-employed individuals, both schemes have made provision for a 45% female business participation and special needs participation of 5%.
1. Employees of MSMEs.
The benefiting companies to meet the following criteria:
Employees’ company Must be registered in Nigeria under the Corporate Affairs Commission, CAC; Must have BVN by company CEO; Must have a staff strength of no less than 3 persons; Must be owned by a Nigerian.
2. Self-employed Individuals in the following categories.
Service providers in the transportation sector. i.e. Bus drivers, Taxi drivers, Ride share drivers,(Uber, BoltTaxnfy etc) and Mechanics.
Artisans, Electricians Plumbers etc.
(ii) GUARANTEED OFFTAKE SCHEME – Bulk purchase of products from 100,000 MSMEs to protect Jobs and Livelihoods.\
This scheme will protect and sustain the income of vulnerable Micro and Small Enterprises from the economic disruptions of the COVlD-19 pandemic through the Implementation of various initiatives aimed at boosting the production capacities of the small businesses as well as provision of grants.
The main objective of this particular Guaranteed Offtake Scheme is to boost production capabilities of small businesses With the view to ensuring that they remain In business.
Duration:The duration will be for a period of Three (3) Months
Target Beneficiaries: Micro and Small businesses registered in Nigeria.
How to apply – www.survivalfund.ng survival fund portal
If you are interested in applying for survival fund via the portal please visit https://survivalfund.ng/