Survival fund loan

Nigeria Government inaugurates survival fund for 333,000 artisans, transporters

Micro Small and Medium Enterprises Survival funds for Artisan and Transport business owners is the latest support scheme the Nigeria government launched on Thursday, October 1, 2020. The aim of the MSMEs Survival Funds and Guaranteed Off-take Stimulus Scheme is to help relieve the effect of the COVID-19 pandemic on businesses across the country.

A total of 333,000 artisans and transporters across the country are to benefit from grants provided by the scheme. 9,009 beneficiaries each from the 36 states of the federation and the Federal Capital Territory would benefit from the scheme. One-off payment of N30,000 will be given as grant to each beneficiary.

Survival Fund Scheme | MyJobMag

Registration into the scheme has started?

The implementation of the support scheme for artisan and transport business operators is to be divided into three groups/streams  Authorities say.

Stream 1 is expected to commence on October 1 will end on October 15. States under this stream include;

  • Abia
  • Anambra
  • Bauchi
  • Borno
  • Delta
  • FCT
  • Kaduna
  • Kano
  • Lagos
  • Ogun
  • Plateau
  • Rivers

The Federal Government is yet to reveal the next 12 states for stream 2 but the implementation for stream 2 is expected to commence by 19 October and end on 31 October

Stream 3 will commence on 9 November till 21 November and where the last 13 states will be taken.

Conditions for programme

  • You can be a small business owner (with staff) or a self-employed individual
  • 45% of those to go benefit from the scheme are to be women and 5% are those with special needs
  • If it is a company, the company must be registered with the Corporate Affairs Commission and have at least three staff, have Nigerian owner and the owner must have the BVN
  • For self-employed, the government is targeting those that are into transport work e.g. mechanics, taxi drivers, hairdressers, ‘Keke NAPEP’ riders, Okada riders, bus drivers, and ride-share drivers (cabs service companies)
  • Also artisans like electricians, plumbers, bricklayers etc qualify

Click the link below to apply

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