The Federal Government has announced that it is rolling out a “survival fund” that will make payroll support available in order to save jobs and sustain local production.
The support initiative, which was announced on Monday is a part of the National Economic Sustainability Plan (NESP) that was presented to President Muhammadu Buhari by the Vice President Yemi Osinbajo-led committee in June.
The NESP, a policy response of the Buhari-led Federal Government to saving the country from a COVID-19 induced recession, include support schemes for Micro Small and Medium Enterprises (MSMEs) nationwide, a Guaranteed Offtake Scheme (guaranteeing off-take of priority products) among others.
According to the Federal Government’s announcement, details on how to access these MSME Support initiatives will be unveiled soon, by the Implementation Committee.
The leadership of the implementation committee comprises, Chairman, Minister of State for Trade and Investment, Amb Mariam Katagum; and Vice Chairman, Mrs. Ibukun Awosika, Founder, Chair Centre LTD., also Chairman, First Bank of Nigeria.
Below: Federal Government’s document containing intervention plan for MSMEs.