Survival fund: 490,000 Employees received over 30,000 Naira as Salary in three months – Trade Minister

Odunitan Ayeni, Abuja.

The Minister of State for Trade, Industry and Investment, Mariam Katagum disclosed this at a Beneficiaries Town Hall Meeting organiser for North Central Geopolitical Zone, FCT Centre, in Abuja.

Speaking at the meeting, the Hon. Minister recalled that, “Nigeria as well as other parts of the world, the covid-19 pandemic caused distruption in demand and supply chain especially for the cooperate and households product and commodity, then, federal government therefore responded with survival fund scheme”, she said.

“The MSME scheme as its intervention to support micro-small and medium businesses affected by covid-19 pandemic was borne out to Forster the economy especially for MSME, self employed individuals are gainfully employed by creating production opportunity, and the scheme was to directly engaged SME in production and to save at 1.3 million jobs.

“The programme set aside 45% female MSME and 5% for people with special needs. The target beneficiary for the scheme was self employed entrepreneures, micro small businesses that are registered in Nigeria,”she said.

She explained that, “under the payroll supporting scheme placed obligations on MSME to reach 500,000 beneficiaries but, as at today we have reached 490,408 employees who recieved between 30,000 naira to 50,000 naira as three month salary in the 36 state and the FCT,” she added.

According to Katagum, “in the area of artisans and transporters scheme which was designed one off, 30,000 to 33,000 naira grants were given on one off basis to beneficiaries, while we currently have 1.2 million beneficiaries for that,” she said.

Trade and Investment Minister of State noted that, “to date, the fund has disbursed 66 billion and 20,000 naira direct to 1,258,183 beneficiaries including those registered with CAC and we have also been able to reached 38% female out of the target of 45% and 2% of person with disabilities,” she said.

In a remark, Special Adviser to President Buhari on MSME, Mr.Tola Adekunle Johnson, also recalled that President Muhammed Buhari had on the first ofJuly, 2020 approved the MSME Scheme for the benefit of Nigerians.

Johnson said, “every tranch that was approved was done because both the Presidency and the Ministry of Trade and Investment had sat down and look at what was going on in the institution at that very point in time with the covid-19.

Continuing he said, “so we looked at the critical area where MSME scheme will affected and how we will quickly mitigate against MSME line off for staff, that gave right to why the payroll scheme was to ensure that MSME is not just that name of people.

President’s aide stressed that, “as a Government we agreed to pay your staff for 90days which is 3 month and we are paying as that much as some companies got a million naira for 90 days to pay their staff and it reduced their unnecessary spending,” he said.

On his part,  the FCT Focal Person, and MD/project Co-ordinator for Abuja Enterprise Agency, Mr. Idris Abdukadir noted that MSME survival fund and guaranteed offtake scheme, adding that it is a government project for economic sustainability plan.

He said it was initiated to aselerate Nigeria recovery from the negative impact of the Covid-19 pandemic.

Abdulkadri noted that, “during the implementation of the project here in the FCT and as focal institution for the FCT, the Agency was creating awareness across the six area council of the FCT, by identifying the stakeholders and respective beneficiaries, such as trade union, artisan, transporters, associatios and cooperatives,” he said.

He added that the abuja entreprise agency, through the CAC applied for 50% forms and register up to 2,000 businesses by this laudable scheme.

A beneficiary, FCT PRO of  Amalgamated Commercial Motorcycle and Tricycle Owners Riders Association of Nigeria, ACOMORAN, Uzor Stanley Azuka,, said,”the MSME scheme has really benefited the group because the association is the largest in Nigeria and they abide with the government policies.

“To benefit from government scheme is not easy, to remember transporters especially okada riders, government didnt recognise us in the past but Hon Minister State of Trade and Investment remembered us now and we benefited massively from the scheme.

He therefore implored the ministry to continue the scheme for the remained members of he association that are yet to be captured to benefit from the Scheme.

Another beneficiary, Mrs Elizabeth said,”I personally benefited from the scheme during the Covid-19, it really helped me in such a way that I didn’t expected and it came at the right time, but we still have some challenges we brought before Hon minister state of trade and investment, and we call on you Ma to assist us more, Elizabeth pleaded.

The Town Hall Meeting was themed: “MSME Survival Fund and Guaranteed Offtake Scheme in Abuja.