The MSME Survival Fund is designed to support vulnerable Micro Small and Medium Enterprises (MSMEs) in meeting their payroll obligations and safeguard jobs in the MSMEs sector.
The scheme is estimated to save not less than 1.3 million jobs across the country, will provide Payroll support of N30,000 or N50,000 grant over three months to 500,000 beneficiaries nationwide.
Over one million Nigerians have so far benefitted from the Survival Fund scheme under the Economic Sustainability Plan (ESP)
· For the Payroll Support track of the Survival Fund, there are 495,307 beneficiaries that have have so far paid the N30,000 or N50,000 grant each, which will be for over a period of three
· For the Artisan and Transport Support track, there are 265,425 beneficiaries. Payment of N30,000 one-time grant to 333,000 artisans across the country is in progress.
· Formalization Support: 250,000 Free Business Name Registrations for Msmes: Over 202,494 business names registered already.
· The General MSME Grant is a one-off grant of N50,000 given to each qualified MSME as direct cash injection into their enterprise. The total number of beneficiaries in this track is 100,000 spread across the States.
MSME GRANT: 44,500 beneficiaries, with another 40,114 approved for payment to make 84,614 beneficiaries