- Total beneficiaries now 465,820
The Federal Government says it has begun the disbursement of payment to a total of 146,065 additional beneficiaries of its Survival Fund programme under the Payroll Support Track from 28 states of the Federation.
This is contained in a statement it released this Thursday.
According to the statement, with 46,117 already receiving payments in the FCT and 36 States of the Federation, this figure brings the total number of beneficiaries under the Payroll Support Scheme of the Survival Fund to 465,820 nationwide.
Part of the statement reads:
Our @SurvivalFund_ng payments to qualified beneficiaries are continuing. A new batch of 146,065 successful beneficiaries from 28 States have started receiving payment of N30,000 each (per month),under the Payroll Support Track. Each beneficiary will be paid for 3 months = N90,000
This brings the total number of beneficiaries so far under the Payroll support scheme of the @SurvivalFund_ng nationwide to 465,820.The MSME Survival Fund @SurvivalFund_ng, a component under the Buhari Administration’s Economic Sustainability Plan (ESP) is designed to support vulnerable Micro Small and Medium Enterprises (MSMEs) in meeting their payroll obligations, and to safeguard jobs in the MSMEs sector.
The scheme is projected to have a direct impact on over 35,000 individuals in each state of the federation with not less than 1.3 million jobs to be saved across the country.
The MSME Survival Fund is a component under the Buhari Administration for vulnerable Micro Small and Medium Enterprises (MSMEs) affected during the lockdown with one employer and ten employees eligible to be enrolled.
A total of 46,117 successful beneficiaries in the Federal Capital Territory and the 36 states have so far been enrolled in the payment scheme.
The programme was approved by President Buhari on June 24,2020, as a stimulus plan to help mitigate the effects of the COVID-19 pandemic on Nigerian businesses with a total of N2.3 trillion budgeted.
The plan was developed by the Economic Sustainability Committee which is chaired by Vice President Yemi Osinabjo who also oversees its implementation.
Under the Survival Fund, Micro Small and Medium Enterprises are profiled for a one-off grant of N90,000 (N30,000 for three months) to each qualified entity as a direct cash injection.