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174,574 apply for COVID-19 N75bn MSME survival fund

Minister of State for Industry, Trade and Investment, Mariam Katagum

Within 48 hours a total of 174,574 persons successfully registered for the N75bn National MSME Survival Fund and the Guaranteed Off-take Stimulus schemes under the Nigeria Economic Sustainability Plan, the Federal Government announced on Thursday.

Registration for the MSME Survival Funds commenced at 11pm on Monday.

The schemes were introduced by the Federal Government to support individuals and businesses negatively affected by the COVID-19 pandemic.

Minister of State for Industry, Trade and Investment, Mariam Katagum, told journalists in Abuja that “as at 8.30am this (Thursday) morning, total successful registrations stood at 174,574.”

She added, “The following states have the highest applications as follows, Kano, 19,895; Kaduna, 13,575; Lagos, 13,640; Katsina: 8,383; Federal Capital Territory, 8,085.”

She stated that within the first 24 hours of opening the registration portal, approximately 138,000 individuals logged on, created profiles and completed the first stage of registration.

Katagum said Kano, Kaduna and Lagos emerged the lead states.

According to her, all successful applicants received SMS and email verification with a list of requirements for the second stage of application which would commence on October 1, 2020.

“Applicants will be required to upload details supporting their applications which will be verified and if successful, approved for disbursements,” the minister stated.

On states that recorded the highest number of applications in the first 24 hours of registration, the minister said Kano recorded 16,880: Kaduna, 11,438; Lagos, 10, 530; Katsina, 7,354; and Bauchi, 6,622.

Katagum said registration for other tracks would start next with hospitality industry coming on September 25, 2020 by 10am; payroll support, September 28, 2020, 10am; while artisan/transport grants begins on October 1, 2020.

PUNCH!

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