From left, Minister of Agriculture, Alhaji Adamu Nanono; Minister of State for Budget and National Planning, Prince Clem Ikanade Agba; and, Minister for Trade, Industries and Investments, Otunba Niyi Adebayo, at a meeting of the Economic Sustainability Committee chaired by Vice President Yemi Osinbajo at the State House, Abuja, on Monday

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FG to set up Survival Fund for one million jobs in 100,000 MSMEs in 36 states

Per Second NewsAugust 4, 20201 Mins read744

The Federal Government is to establish MSMEs Survival Fund targeted at sustaining one million jobs in 100,000 MSMEs and 333,000 self-employed individuals through disbursement of grants across the six geo-political zones.

It is also to roll out the MSMEs Guaranteed Offtake Simulation Scheme which is designed to sustain 300,000 jobs in 100,000 MSMEs by guaranteeing off-take of priority products and extending payroll support.

To this end, the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, on Tuesday inaugurated a Steering Committee to implement the programmes at a brief ceremony held via video conferencing.

Persecondnews reports that the membership of the committee was drawn from both the public and private sectors.

The committee is chaired by the Minster of State for Industry, Trade & Investment, Amb. Mariam Katagum while the

founder of the Chair Centre Limited and Chairman of First Bank of Nigeria, Mrs Ibukun Awosika is the Vice-Chairman.

Other members include the Chairman of Anambra Rice Mills, Mr Akai Egwuonu; the DG, Industrial Training Fund (ITF), Mr Joseph Ari; the MD, Bank of Industry (BOI), Mr Kayode Pitan, the Director-General of Small and Medium Enterprises Development Agency, Dr Dikko Radda and the Director, Industrial Development Department, Mr Adewale Bakare.

Also included in the committee are the representative of the Office of the Chief of Staff; the Technical Adviser to the Minister for Industry, Trade & Investment, Mr Kamar Bakrin, while the Special Assistant to the President on MSMEs, Mr Tola Johnson will serve as the Secretary and Coordinator of the project.

The mandate of the committee will among other things oversee the implementation of the various MSMEs support schemes captured in the NESP as well as the selection and enrollment of beneficiaries for the schemes.

The Federal Government had in Funtua, Katsina State recently launched the Mass Agriculture State Programme – the agric component of the economic sustainability plan aimed at cultivating at least 300,000 hectares across the 36 states and the FCT.