By James Emejo
The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, Thursday said a total sum of N27 billion has so far been released for the implementation of the Survival Fund Scheme.
The fund was launched November 2020 alongside the Guaranteed Offtake Scheme (GOS), both targeted at assisting Micro Small and Medium Enterprises (MSMEs) to overcome the challenges posed by the COVID-19 pandemic.
The N75 billion project forms the core part of the N2.3 trillion Nigeria Economic Sustainability Plan (NESP) currently being implemented by the President Muhammadu Buhari-led administration to help cushion the impact of the pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.
Daily Post Nigeria
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The Federal Government on Thursday, disbursed N27 billion to Micro Small and Medium Enterprises (MSMEs) as part of the MSMEs Survival Fund Scheme.
This was disclosed by the Minister of State, Industry, Trade and Investment, Amb. Mariam Katagum, while addressing newsmen on Thursday, in Abuja.
The minister revealed that the government would open portal for the last phase, February 9.
According to her, the Steering Committee for the Survival Fund would turn in its reports to the Ministry of Finance as well as await the second tranche of the fund.
Katagum, who is also the Chairperson, Steering Committee, MSME Survival Fund and Guaranteed Off-Take Schemes (GOS), said the existing schemes were progressing seamlessly.
Buhari. Photo: TWITTER/NIGERIAGOVEvidently, the implementation of the Economic Sustainability Plan (ESP) has gained traction and unarguably is achieving the desired impact on the Nigerian economy.
For the benefit of hindsight, the COVID-19 pandemic which was first reported in Wuhan, China in December 2019 triggered a strangulating global economic downturn. x
In its second wave, the pandemic has continued to decimate the world’s population amidst the vaccine race.
On March 30, 2020, President Muhammadu Buhari, set up the Economic Sustainability Committee(ESC), chaired by Vice President Yemi Osinbajo to develop an economic sustainability plan to last until 2023.
The ESC was mandated inter alia: To develop a stimulus package and come up with measures to cushion the impact of the pandemic on the economy.
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In partnership with the private sector, the Federal Government would continue to support innovation and interventions to boost the growth of small businesses across the country, so as to improve the economy and create more employment opportunities for Nigerians, according to Vice President Yemi Osinbajo, SAN
Prof. Osinbajo stated this Monday at the first meeting of MSMEs stakeholders for the year 2021.
The Vice President urged stakeholders in the public and private sectors at the virtual meeting to be innovative in the interventions planned for small businesses across the country, so as to consolidate on the gains recorded in the MSMEs space in the past few years