FG paid N27 billion, opens the last portal of the program

The has provided 27 billion euros for micro, small and medium enterprises (SMEs) as part of the SME Survival Fund.
This was conveyed by State Minister for Industry, Trade and Investment Amb Mariam Katagum on Thursday while briefing journalists in .
Katagum said the government will also launch the last two programs that establish a survival fund.
He said the Survival Fund steering committee would submit its report to the Ministry of Finance and await the second tranche of the fund.
Katagum who also chairs the Steering Committee, the UMKM Survival Fund, and the Guarantee Waiver Schemes (GOS) said the existing programs are running smoothly.
“The federal government is preparing the introduction of the last two programs of the SME Survival Fund component of the National Plan for Economic Sustainability (NESP), namely a guaranteed approval system (GOS) and general grants for SMEs.
“Two of the components approved in the Economic Sustainability Plan (ESP) are the SME Survival Fund and the Guaranteed Exit Scheme.
“The Steering Committee approved the implementation of two schemes in five separate parts, namely: a wage support system, a craftsman and transportation system, a formalization support system, a general SME grant and a guaranteed admission system.
In these two components, the portal will be open from 23.59 Tuesday, 9 February 2021 to Thursday, 18 February 2021 for GOS applications and the UMKM General Grant.
“All interested MSMEs can go directly to the portal and register for one of the programs for free,” he said.
He explained that the goal of GOS is to directly stimulate local production by providing opportunities for 100,000 SMEs in the manufacturing sector to make post-COVID incentive products with funds.
He noted that the scheme will prioritize products produced in reasonable quantities in each country in the Federation.
He said products must have a proven tendency to create jobs and have a multiplier effect on the environment.
He listed products of interest, including: face masks, hand sanitizers, liquid soaps, disinfectants, and processed foods.
Tola Johnson, special assistant to the IHR in the Vice President’s office, said a total of 100,000 companies in 36 countries and FCT would benefit from the new system.
He said that for GOS 2640 the company would benefit from 34 states, while Abia would have 3080 beneficiaries, 3280 and 3880 beneficiaries.
He said the same distribution would be used for IHR grants.
Johnson added that the GOS portal will be open for two weeks while the Grant portal will be open for a week.
He said to qualify, the company must be registered with the Corporate Affairs Commission (CAC), be owned by a Nigerian, and have at least two employees.
However, he emphasized, payment is based on availability.

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