FG announces N75bn support for 1.7 million Nigerians, businesses from Sept 21

September 19, 2020
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Mariam Katagum, Minister of State for Industry, Trade and Investment, has confirmed that the federal government will provide financial support for 1.7 million business entities and individuals.

The programme will commence September 21 and last for three months.

Katagum said it was part of efforts to support Nigerians to survive the economic impact of COVID-19 pandemic.

NAN reports that she spoke in Lagos on Friday.

“The government, through the Economic Sustainability Committee, had announced specific programmes aimed at cushioning the impact of COVID-19 on MSME businesses. These include the N75 billion MSME Survival Fund and Guaranteed Off-take Schemes.

“The project, which will run for an initial period of three months, is targeting 1.7million entities and individuals and has provisions for 45 per cent female-owned businesses and five per cent for those with special needs.

“The registration portal for the schemes is set to open on Monday 21st September, 2020 and I urge you all to take full advantage of the schemes,” the minister said.

The official added that the fund and schemes were at the core of the N2.3 trillion stimulus package also known as the Nigeria Economic Sustainability Plan (NESP).

Katagum announced that the commissioning of shared facilities would provide succor and relief for the teeming micro businesses in need of space and infrastructural support.

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