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Survival Fund: FG To Open Portal For Offtake Stimulus Scheme, MSME Grant Feb 9

The Federal Government says registration for the Guaranteed Offtake Stimulus Scheme and the General Micro, Small and Medium Enterprise (MSME) grant will commence on Tuesday, February 9th.

The steering committee of the MSME Survival Fund and Guaranteed Offtake Stimulus Scheme chaired by Minister of State for Industry, Trade and Investment, Mariam Katagum, made the announcement on Thursday.

The committee said a total of 100,000 Micro and Small Enterprises will benefit from the off-take stimulus while 100,000 Nigerians will benefit from one-off N50,000 MSME grant.

“The Steering Committee of the MSMEs Survival Fund and guaranteed Off-take Stimulus Scheme chaired by the Honourable Minister of State, Federal Ministry of Industry, Trade and Investment, Amb. Mariam Y. Katagum, wishes to announce the commencement of the Guaranteed Off-take Stimulus Scheme and the MSME Grant portal opening from February, 9th, 2021,” the committee said in a statement.

It said the Guaranteed Off-take Stimulus Scheme is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products.

The state-by-state breakdown is as follows: Lagos, 3,880; Kano, 3,280; Abia, 3,080; while the other states will each have 2,640 beneficiaries.

To qualify for the scheme:

1. Applicant must be a Nigerian National.

2. Applicant must be registered under Corporate Affairs Commission with at least a Business Name certificate

3. Applicant must have a verifiable BVN and Bank Account

4. Applicant must have at least 2 staff

5. Applicant must be ready to produce under NAFDAC and SON specifications.

The list of products captured in the Guaranteed Offtake Stimulus Scheme track:

CATEGORY A
SANITIZATION & CLEANING

LOT 1 PRODUCT
1 Face Masks
2 Liquid Soap
3 Disinfectant
4 Hand Sanitizer

CATEGORY B
PROCESSED FOODS

LOT 2 GRAINS
1 Beans
2 Garri
3 Acha
4 Alkama
5 Brabusco
6 Rice (Parboiled)
7 Rice (Raw)

LOT 3 FLOUR
1 Yam Flour
2 Plantain Flour
3 Soya Bean Flour
4 Garin Danwake
5 Cassava Flour

LOT 4 OIL
1 Palm oil
2 Groundnut Oil
3 Coconut Oil
4 Honey
5 Soyabean Oil

LOT 5 SPICES
1 Dry Locust beans
2 Curry Powder
3 Tumeric Powder
4 Ginger Powder
5 Garlic Powder

“The General MSME Grant is a one-off grant of N50,000 that will be given to each qualified MSME as direct cash injection into their enterprise. the total number of beneficiaries in this track is 100,000 spread across the States,” the steering committee said.

In the same vein, the General MSME Grant quota is as follows: Lagos, 3,880; Kano, 3,280; Abia, 3,080; and other states, 2,640.

The committee said all potential beneficiaries of the grant must meet the following criteria:

1. Applicant must be a Nigerian National.

2. Applicant must be registered under Corporate Affairs Commission with at least a Business Name certificate

3. Applicant must have a verifiable BVN and Bank Account.

For further details, potential were asked to visit the Survival Fund website.

The steering committee added that registration for the scheme is absolutely free, asking applicants to beware of fraudulent persons.

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