The Federal Government has formally inaugurated the N75bn MSME survival fund for Artisans, and transporters of which a total of 333,000 artisans and transporters across the country are to benefit from grants provided by the scheme.
Speaking on this development, Miriam Katagum, Minister of State for Industry, Trade, and Investment, said that at least 9,009 beneficiaries would be from the 36 states of the federation and the Federal Capital Territory.
“One-off payment of N30,000 will be given as grant to each beneficiary. The categories of self-employed individuals eligible to participate in this track of the Survival Fund Scheme include mechanics, taxi drivers, ride share drivers.
“Others include hairdressers, ‘Keke NAPEP’ riders, Okada riders, plumbers and electricians.”
“This will be at no cost to the MSMEs. The Federal Government will pay CAC N6,000 for each registration and this is under the formalisation support and it is for all MSMEs that require formalisation,”
She went on further to urge all those who intend to be beneficiaries of the scheme to have valid accounts with banks in order to effectively benefit from the grants.
Katagum said the grant would help reduce the effect of income loss during the COVID-19 pandemic and its resultant lockdown.