The Minister of State, Federa Ministry of Industry, Trade and Investment, Amb. Mariam Yalwaji Katagum Thursday said no fewer than 138,000 MSMEs have registered for the government’s intervention under ‘MSME Survival Fund’ scheme which commenced on the 21st September 2020 at 11pm.
According to Amb. Katagum, Within the first 24 hours approximately 138,000 individuals had logged on, created profiles, and completed the first stage of registration with Kano, Kaduna, and Lagos as the lead states.
The tex of the media briefing gave by the Minister and copied to The Commerce Africa by the information office of the Ministry read further:
“Gentlemen of the press, you are all welcome to this media briefing to provide an update on the N75 billion National MSME Survival Fund and the Guaranteed Off-take Stimulus Schemes under the Nigeria Economic Sustainability Plan (NESP).
“Before I proceed, let me on behalf of the FMITI and in my own personal name, extend our heartfelt condolences and sympathies to the families of the victims of the tragic oil tanker crash which occurred yesterday in Lokoja, Kogi State. May the souls of the departed rest in perfect peace and may the Almighty Allah comfort the families, Ameen.
“Gentlemen of the press, you will recall the last world press conference which we held on Thursday 10th September, 2020 and our promise to keep updating you from time to time on the progress in the implementation of the National MSME Survival Fund and the Guaranteed Offtake Scheme. From the outset, let me also thank you immensely for the wide coverage given by the media which I believe was pivotal for the public awareness created for the successful takeoff of registration for the schemes.
“You will recall that the Scheme is a cluster of Grants intended to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard jobs within the MSME space from the shock of the Covid19 Pandemic. Its specific objectives are:
“Stimulate direct local production in the 36 States of the Federation and the FCT by enabling MSME’s in the production sector with funds to stimulate ‘post COVID lockdown’ off-take products.
“Augment the payroll obligations of businesses in the Health, production, Education, Hospitality and Food production sectors.
“Provide 50,000 Naira grants each to an additional eligible 100,000 MSMEs.
“The program is to save over One Million, Seven Hundred Thousand (1,700,000) jobs.
“Special focus will be given to 45% female owned MSME’s and 5% Special needs owned MSME’s and give grants to self-employed individuals especially service providers like Bus drivers, Taxi drivers, ride share drivers and artisans such as electricians and plumbers. You will also recall that the scheme will be implemented along the following tracks:
“PAYROLL SUPPORT – This track targets 500,000 individual beneficiaries. The scheme will support MSME payroll obligations by paying between N50,000 (max) and N30,000 (min) to between 3 (min) and 10 (max) staff for 3 months. MSMEs in this category are required to have a minimum of 3 and maximum of 50 Staff on their payroll to qualify.
“TARGET BENEFICIARIES – MSMEs in the Hospitality industry, Private Schools, Factory owners, Law Firms, Hospitals etc.
“GENERAL MSME GRANTS – N50,000 Grants to 100,000 MSMEs. This group of beneficiaries is encouraged to take advantage of registration through MSME Associations, registered Business Clusters, Trade Associations and Unions etc.
“TARGET BENEFICIARIES – All qualified MSMEs
“FORMALIZATION SUPPORT (CAC REGISTRATION) – Registration of 250,000 new businesses with the Corporate Affairs Commission (CAC). At no cost to the MSMEs. The FG will pay CAC N6,000 for each registration.
TARGET BENEFICIARIES – All MSMEs that require formalization.
“ARTISAN TRANSPORT GRANTS- One-off Payment of N30,000 to each beneficiary. The following shall be the categories of self-employed individuals eligible to participate in the Survival Fund Scheme.
“TARGET BENEFICIARIES – Mechanics, Taxi Drivers, Hairdressers, Keke Napep Riders, Okada riders, plumbers, electricians etc.
“GUARANTEED OFFTAKE STIMULUS SCHEME – The objective of the MSME Guaranteed Offtake Stimulus Scheme is to protect and sustain the income of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products like:
“TARGET BENEFICIARIES -MSMEs in the production Sector.
“Gentlemen of the press, I am pleased to inform you that Registration for the MSME Survival Fund commenced on the 21st September 2020 at 11pm. Within the first 24 hours approximately 138,000 individuals had logged on, created profiles, and completed the first stage of registration with Kano, Kaduna, and Lagos as the lead states.
“All successful applicants received SMS and email verification with a list of requirements for the second stage of application which will commence on 1/10/2020. Applicants will be required to upload details supporting their applications which will be verified and if successful, approved for disbursements.
“The following states recorded the highest number of applications in the first 24hrs of registration:
“Kano – 16,880
Kaduna – 11,438
Lagos – 10, 530
Katsina – 7,354
Bauchi – 6,622
“As at 8.30am this morning, total successful registrations stood at 174,574 with the following states having the highest applications as follows:
“Registration for other tracks will start as follows:
Hospitality industry 25/09/2020 – 10:00AM
Payroll Support (others) 28/09/2020 – 10:00AM
Artisan/Transport Grants 1/10/2020
“Some states and local governments that have low access to network connectivity and internet services are experiencing delays with registration. However, we also have feedback that State Governments and trade associations are putting in place innovative strategies to deal with the situation.
“Focal Persons of these states (and all other states) are encouraged to continue with their sensitization efforts; all states need to be equally represented in the Scheme.
“The PDO has received reports of some attempted cyber-attacks on the application website. We would like to assure the public that the application system is secure with multiple levels of encryption and any information loaded on the official application page is safe from cyber-attacks of any kind.
“We would however like to draw the attention of the public to attempts by scammers and other undesirable elements to swindle innocent Nigerians with promises of assured disbursements for a fee.
“The Survival Fund will not at any time or for any reason request payment or facilitation fees to access the Grants.
“The public is encouraged to report any such nefarious activities to the nearest security agents and follow up with a report to the PDO via the mediums provided on the website.
“On behalf of all MSMEs across the country, I want to thank His Excellency President Muhammadu Buhari for this critical intervention at this time of economic hardship coupled with the COVID-19 pandemic.
“I also want to place on record our continued appreciation to His Excellency, the Vice-President, Prof. Yemi Osinbajo for his steadfast leadership and guidance since the conception of this scheme.
“Let me also appreciate all the State Governors who have effectively mobilised and provided a conducive environment for small business owners to register for the schemes. Also to appreciate NASME, the Association of Private School Proprietors and other trade Associations for mobilising their members for successful registration.
“Finally, let me thank all the members of the Steering Committee and the Project Delivery Office for working tirelessly to ensure the success of this scheme.
“To the Gentlemen of the press, thank you very much as we count on your continued support and collaboration.
“thank you for listening and God bless the Federal Republic of Nigeria.”