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FG boosts MSME with N75bn grant

The Federal Government has inaugurated an artisanal scheme under the N75 billion Micro, Small and Medium Enterprises, MSMEs Survival Fund and Guaranteed Off-take Stimulus Scheme.

This is to cushion the effect of the COVID 19 on small businesses.

At the event in Abuja, the Minister of State, Industry, Trade and investment and Chairman of the Steering Committee of the Scheme, Ambassador Marian Katagum said implementation would be in three batches covering twelve states.

She said over three hundred thousand businesses are to benefit from the initiative with a special approval of 45% for women and five percent for people with special needs.

“On assumption in 2015, one of the core areas of concentration of the Buhari Administration has been the MSME, they are clusters that can help this nation in job creation and opportunities, she said.

We believe that, if we as a government give every skilled artisan an enabling environment for his/her skills to be harnessed, then Nigeria will be better for it”, the minister added.

“I therefore call on tailors, cart pushers, barbers, plumbers, shoemakers, electricians, hairdressers Associations to take ownership of the scheme. It is absolutely free. Your money is thirty thousand Naira and it will go directly Into your account.” Ambassador Katagum noted.

The project coordinator of the Scheme, Mr. Tola Johnson emphasized that for applicants to benefit from the scheme, they needed to register through their Associations and own a valid bank account and Bank verification number, BVN.

Patience Olumati

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