The Federal Government has announced opening of portal for registration for the N75 billion Survival Fund for micro, small and medium enterprises (MSMEs).
The portal, it said, opened on Monday, September 21.
Mrs Mariam Katagum, the Minister of State for lndustry, Trade and lnvestment, said the programme was aimed at tackling the economic challenges faced by small businesses as a result of coronavirus.
Katagum spoke at the virtual commissioning of the fashion cluster shared facility for MSMEs tagged, ‘Eko Fashion Hub’ in Lagos.
She explained that the programme which would run for an initial duration of three months, would be opened for 1 .7 million entities and individuals across the country.
“The federal government is fully committed to empowering Nigerians; more so in the face of the Covid-19 pandemic.
“In this regard, the government, through the economic sustainability committee had announced specific programmes aimed at cushioning the impact of COVID-19 on MSME businesses.
“These programmes include among others, the N75 billion MSME survival fund and Guaranteed Off-take schemes of which I have the honour to chair the steering committee for the effective implementation of the projects.
“The project, which will run for an initial period of three months, is targeting 1.7 million entities and individual and has provisions for 45 percent female-owned businesses and five per cent for those with special needs,”Katagum said.
The minister, however, did not specify the minimum or maximum amount the government will offer small business owners.