4 February 2021 By Mathew Ayoola
The Federal Government is set to roll out the last two components of its MSME Survival Fund.
The Minister of State for Industry, Trade and Investment and Chairperson Steering Committee of the Scheme, Ambassador Mariam Yalwaji Katagum made this known while speaking with newsmen in Abuja.
Ambassador Mariam Katagum said the last two components of the Fund are Guaranteed Off Take Scheme and the General MSMEs Grant.
According to her, the portal for registration for the scheme which will open next week is to further cushion the effects of COVID 19 pandemic.
She stated that the Guaranteed Off Take Scheme was to stimulate direct local production by enabling 100,000 MSMEs in the production sector with funds to produce post COVID lock down stimulus products.
The Minister explained that the products were face masks, hand sanitizers, liquid soap, disinfectants and processed foods.
Ambassador Mariam Katagum 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.
In a remark, 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 Tola Johnson who is the Coordinator of the Project cautioned Nigerians against fraudsters that may want to take advantage of the Survival Fund as registration for the scheme is free.