FG rolls out Remaining Schemes Of MSMEs Survival Fund

The Federal Government is to roll out the last two components of its MSME Survival Fund known as Guaranteed Off Take Scheme and MSMEs Grant.

The Chairperson, Steering Committee of the Scheme who is also the Minister of State for Industry, Trade and Investment, Ambassador Mariam Yalwaji Katagum made this known in Abuja.

She said that the Guaranteed Off Take Scheme was to stimulate direct local production by providing 100,000 MSMEs in the production sub-sector with funds to produce post Covid lock down stimulus products.

The Minister explained that the products covered under the scheme are face masks, hand sanitizers, liquid soap, disinfectant and processed foods.

The minister said the General MSME grant was meant to give a one-off fifty thousand naira grant to 100,000 MSMEs to further boost their production and stimulate the growth of small scale businesses in the country.

According to her, the portal for registration for the scheme which will open next week Tuesday is to further cushion the effects of COVID-19 pandemic.

In his remark, the coordinator of the project and the Senior Special Assistant to the President on MSMEs, Office of the Vice President, Mr Tola Johnson reiterated the commitment of the Federal Government towards improving small scale businesses in the country.

Mr Johnson further warned applicants of the activities of fraudsters who may swindle them of their hard earned money in the name of registration fee.

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