[Nigeria] Over 1 million have benefited from Survival Fund scheme

[Nigeria] Over 1 million have benefited from Survival Fund scheme
09 Jun 2021

On May 30, Vice President Yemi Osibajo said over one million Nigerians had so far benefited from the Survival Fund scheme under the Buhari administration's Economic Sustainability Plan (ESP), AllAfrica reports.

The breakdown of beneficiaries reportedly includes 500,000 Nigerian beneficiaries from the MSMEs Payroll support track, 44,500 beneficiaries under the one-off General MSME Grant and another 265,425 under the artisan support track.

The payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant began at the end of April.

ESP was approved by President Buhari on June 24, 2020. The N2.3 trillion stimulus plan was intended to tackle the socio-economic effects of the COVID-19 pandemic on Nigerians. It was developed by the Economic Sustainability Committee and chaired by Osinbajo who the President also asked to lead its implementation.

The Vice President - in a statement by his spokesman, Laolu Akande - said that currently under the ESP there are over one million beneficiaries nationwide from the various schemes. He said, for the Payroll Support track, there are so far 459,307 successful beneficiaries. Under the scheme, beneficiaries receive payment of the N30,000 or N50,000 grant per month for a period of three months.

Similarly, for the General MSME Grants, the VP’s spokesman said about 44,500 successful beneficiaries have received payment for the one-off grant of N50,000 each. The total number of beneficiaries of the General MSME Grant will increase in the coming weeks as the Steering Committee has approved payment to an additional 40,114 new beneficiaries.

Additionally, he said that 202,494 businesses have so far benefited under the ESP Survival Fund formalisation support track, which is aimed at registering 250,000 new businesses for free with the Corporate Affairs Commission (CAC).



Source: AllAfrica

On May 30, Vice President Yemi Osibajo said over one million Nigerians had so far benefited from the Survival Fund scheme under the Buhari administration's Economic Sustainability Plan (ESP), AllAfrica reports.

The breakdown of beneficiaries reportedly includes 500,000 Nigerian beneficiaries from the MSMEs Payroll support track, 44,500 beneficiaries under the one-off General MSME Grant and another 265,425 under the artisan support track.

The payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant began at the end of April.

ESP was approved by President Buhari on June 24, 2020. The N2.3 trillion stimulus plan was intended to tackle the socio-economic effects of the COVID-19 pandemic on Nigerians. It was developed by the Economic Sustainability Committee and chaired by Osinbajo who the President also asked to lead its implementation.

The Vice President - in a statement by his spokesman, Laolu Akande - said that currently under the ESP there are over one million beneficiaries nationwide from the various schemes. He said, for the Payroll Support track, there are so far 459,307 successful beneficiaries. Under the scheme, beneficiaries receive payment of the N30,000 or N50,000 grant per month for a period of three months.

Similarly, for the General MSME Grants, the VP’s spokesman said about 44,500 successful beneficiaries have received payment for the one-off grant of N50,000 each. The total number of beneficiaries of the General MSME Grant will increase in the coming weeks as the Steering Committee has approved payment to an additional 40,114 new beneficiaries.

Additionally, he said that 202,494 businesses have so far benefited under the ESP Survival Fund formalisation support track, which is aimed at registering 250,000 new businesses for free with the Corporate Affairs Commission (CAC).



Source: AllAfrica

Leave a Reply

All blog comments are checked prior to publishing