MSME SURVIVAL FUND
The MSME (Micro Small and Medium Enterprise) Survival Fund is a 75 Billion Naira Fund, launched in September 2020. This Fund is part of the ₦2.3 Trillion stimulus package (also known as the Nigerian Economic Sustainability Plan, NESP). The MSME Survival Fund is aimed at supporting businesses and preserving livelihoods, following the economic impact of the COVID-19 pandemic.
The MSME Survival Fund has five (5) components:
Support 500,000 vulnerable MSMEs in meeting payroll obligations of between ₦30,000 - ₦50,000 per employee over 3 months.
Artisans/Transport Workers Support
Provide 330,000 artisans and transport business operators with a ₦30,000 operations grant to reduce the effects of income loss.
Guaranteed Offtake Scheme
Bulk purchase of products from MSMEs to protect jobs and livelihood.
Support the survival of 100,000 MSME businesses most affected by the COVID-19 pandemic.
Provide free CAC Business Name registration for 250,000 new businesses. The program actively promotes gender inclusion - with a beneficiary base that is composed of 45% women.