Covid-19: FG Commences N75bn MSMEs Palliatives Implementation

2 weeks ago
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Federal Government has flagged off National MSME survival fund and Guaranteed off-take scheme, both targeted at assisting Micro Small and Medium Enterprise to step down the challenges arising from the effect of COVID-19 pandemic.

The initiative was flagged off by the Minister f State for Industry, Trade and Investment, Mrs Mariam Katagum.

As reported by Thisdaylive.com, the minister stated that She said the interventions which will gulp a total of N75 billion were core part of the N2.3 trillion Nigeria Economic Sustainability Plan (NESP) currently being implemented by the President Muhammadu Buhari-led administration to help cushion the impact of the pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.

Speaking at a press briefing to announce the commencement of the schemes, the minister said while the MSME survival fund will gulp N60 billion, the GOS will cost N15 billion adding that the schemes will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of COVID-19.

The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, had in August inaugurated a 10-man Steering Committee, chaired by Katagum to develop a workable template for the execution of the programme.

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