The Federal Government, on Thursday, formally inaugurated the artisans and transport sector track of the N75bn MSME Survival Fund and Guaranteed Off-take Stimulus Scheme.
FG says the scheme is set to benefit 333,000 artisans and transporters across the country by providing grants, saying it would help reduce the effect of income loss during the COVID-19 pandemic and its resultant lockdown.
Minister of State for Industry, Trade and Investment, Miriam Katagum, who flagged off the scheme in Abuja, said 9,009 beneficiaries each from the 36 states of the Federation and the Federal Capital Territory would gain from the scheme.
Katagum informed that the scheme would leverage duly registered and recognised associations so that members of the bodies would attest to the transparency and effectiveness of the exercise.
The Minister further noted that beginning from Monday next week, the free registration of 250,000 new businesses with the Corporate Affairs Commission would commence.
“This will be at no cost to the MSMEs. The Federal Government will pay CAC N6,000 for each registration and this is under the formalisation support and it is for all MSMEs that require formalisation,” she said.
The Minister for Industry has said special attention would be given to 45 per cent female-owned micro, small and medium enterprises and five per cent to owners of MSMEs with special needs.
Katagum said the grants would go to self-employed individuals, especially service providers such as bus drivers, taxi drivers, ride share drivers and artisans, including electricians and plumbers.
According to her, categories of self-employed individuals eligible to participate in this track of the Survival Fund Scheme include mechanics, taxi drivers, ride share drivers.
She also included hairdressers, ‘Keke NAPEP’ riders, Okada riders, plumbers and electricians.”