The Federal Government has rolled out N5 billion grant for Micro, Small and Medium Enterprises (MSMEs) under the MSME Survival Fund and Guaranteed off-take Stimulus Schemes.
The Minister of State for Industry, Trade and Investment, Ambassador Mariam Yelwaji Katagum, disclosed this in Abuja on Thursday.
The Minister said the General MSME Grant, which would be opened on Tuesday, is meant to give a one-off N50, 000 grant to 100,000 MSMEs who do not meet the qualification of the Payroll Support or Guaranteed Offtake Scheme.
“A one-off grant of N50, 000 will be given to each qualified MSME as direct cash injection into their business,” the Minister said.
She also said the Federal Government would on Tuesday open the portal for MSMEs to apply for the Guaranteed Offtake Scheme.
“It is important to note that the purpose of Guaranteed Offtake Scheme (GOS), is to stimulate direct local production by enabling 100,000 MSMEs in the production sector with funds to produce post-COVID lockdown stimulus products,” she said.
The Minister said the Scheme would give preference to products produced in reasonably sufficient volumes in each State of the Federation, which have the proven propensity to create jobs and have a multiplier effect on the surrounding economy.
The products include face masks, hand sanitisers, liquid soap, disinfectants and processed foods.
“The portal will open from 11:59 pm on Tuesday, 9th February 2021 to Thursday 18th February 2021 for the Guaranteed Offtake Scheme (GOS) and General MSME Grant Applications,” she said.
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