MSMEs Survival Fund achieving results – Presidency
By Tanko Mohammed
The presidency says feedback from across the country indicates that the Micro Small and Medium Enterprises (MSMEs) Survival Fund is achieving the desired result, giving succour to small businesses.
Mr Tola Johnson, the Special Assistant to the President on Micro Small and Medium and Medium Enterprises (MSMEs), Office of the Vice President, disclosed this while giving an update on the ongoing implementation of MSMEs Survival Fund on Tuesday in Abuja.
The Survival Fund Scheme for MSMEs is captured under the National Economic Sustainability Plan drafted by the Vice President Yemi Osinbajo-led Economic Sustainability Committee and approved by President Muhammadu Buhari.
“The assurance we are giving Nigerians is that this scheme was approved by the president; he has made provisions for the funding of the scheme.
“Nothing is going to change; nothing is going to affect the approval; nothing is going to affect the implementation of programme; nothing is going to affect the financial inclusion in the scheme; so whatever was promised to Nigerians will be adhered to.
“You can see from across the country that people have started receiving salaries from the scheme; artisans have started getting funding; people have started registering new businesses and all these are not going to stop.
“We are going into the next track- the Guaranteed Off take; we are going into the transport scheme and we are going to execute the general grant; nothing has changed in the scheme in terms of implementation.’’
Johnson said that he had seen people who collected N30, 000 Payroll Support and got their businesses revamped.
According to him, the ordinary Nigerians are beginning to realise that they now have a government that meant well for the downtrodden.
“The government is connecting directly with them; no intermediary.
“The president instructed the minister that the money must go directly to the beneficiaries not through intermediaries and the minister passed same directive to me.
“A lot of people came out and said, we don’t know anybody and we benefited; we are building a system that works regardless of who is there.
“There is no aspect of the scheme that you have to pay anybody one kobo; whether you apply online or manually,’’ he said.
Amb. Mariam Katagum, Minister of State, Trade and Investment said that the steering committee was working to ensure that the process of enlisting prospective beneficiaries was smooth and in compliance with government regulations.
She said that the committee at the statutory meeting of Nov. 17 approved a white list of beneficiaries fully verified for disbursement and payments to the approved block of beneficiaries commenced on Nov. 17.
The minister said disbursements were approved as follows – number of MSMEs – 16,253, number of beneficiaries – 101,567, N30,000 each for 94,696 employees/beneficiaries, N50,000 each for 6,871 employees/beneficiaries, 2.6 per cent beneficiaries with special needs and 43 per cent female employees/beneficiaries.
“So, disbursements for Payroll Support is ongoing across the country, however, due to the inability of some states to meet their target application numbers, the portal will be reopened to accommodate such states.
“The key milestone under this track is the verification for payment of 101, 567 beneficiaries sourced from 16,253 businesses as at Nov.17.
“The distribution of beneficiaries across the country include Lagos State, 25,000; Kano, 17,000; Abia, 16,000; and 13,000 per state for the others,’’ he said.
She said that artisans in some states have started receiving the N30, 000 one-time grant, under the Artisan Support Scheme.
Katagum listed the states as Lagos, Ondo, Kaduna, Borno, Kano, Bauchi, Anambra, Abia, Rivers, Plateau and Delta states and the FCT.