By Ossom Raphael
Abuja – The Federal Government has so far disbursed the sum of N56,8 billion to beneficiaries of its Micro, Small and Medium Enterprise (MSME) Survival Fund across the 36 States and the Federal Capital Territory.
The Minister of State, Industry, Trade and Investment, Amb. Mariam Yalwaji Katagum disclosed this in Abuja, at the flag-off of Guaranteed Off-Take Scheme.
Katagum, said the Guaranteed Off-take Scheme is one of the last tracks of the MSME Survival Fund Scheme under the Nigeria Economic Sustainability Plan (NESP).
She said over 85 percent of the targets have so far been reached, with the intention to complete the remaining percentage.
Katagum said: “Under the Payroll Support Scheme, our initial target was to reach 500,000 beneficiaries. Our current standing is put at 459,334 successful beneficiaries across the 36 States and the FCT. Out of this number, we have recorded 43% female-owned businesses and 3% special needs.
“The Artisan and Transport Scheme had an initial target of 333,000 Artisan and Transport beneficiaries. We currently stand at 293,336 successful beneficiaries across the 36 States and the FCT.
”The CAC Formalization Support Scheme set out to register 250,000 new businesses and I can report that to date, 244,162 small and growing enterprises have been successfully registered free of charge, across the 36 States and the FCT.
”Also, the General MSME Grants Scheme had its initial target set at 100,000 MSMEs and we have successfully completed the provision of grants to a total of 82,491 till date.
”To date we have successfully disbursed the sum of N56,842,780,000.00 to 1,079,323 (including those registered under CAC),”.
The Minister, explained that the scheme gives preference to products produced in sufficient volumes in each state with proven propensity to create jobs and have multiplayer effect on the economy, adding that at the end of the off-take process, items procured will be handed over to the State Governments for onward distribution.
“It is important to inform you at this point that this track had an initial target of 100,000 MSMEs across the country. By the time the portal closed, we had received a total of 65,976 applications across the country out of which we have verified and pre-qualified 50,032 MSMEs that we are presently processing to off-take their products.
“The scheme is giving preference to products produced in reasonably sufficient volumes in each state which have proven propensity to create jobs and have a multiplier effect on the surrounding economy.
“It is important to note that the purpose of GOS is to stimulate direct local production by enabling 100,000 MSMEs in the production sector with funds to produce ‘post COVID lockdown’ off-take products. These products include: Face Masks; Hand sanitizers; Liquid Soap; Disinfectants and Processed Foods such as garri, palm oil, groundnut oil, and spices. We have successfully carried out a mapping of products produced in sufficient quantities in each state of the Federation and the FCT.
“At the end of the off-take process, items procured will be handed over to the State Governments for onward distribution to Schools, Hospitals, NGO’s, as well as other public and private institutions each State Government may wish to consider as beneficiaries. It is important to note that the balance of funds from GOS will be re-purposed and applied to other tracks where there are high numbers of applicants on the waiting list. Again, this will be applied in a very equitable manner among the states,” she said.
On his part, Tola Johnson, MSME Survival Fund Project Coordinator, said a total of 50,032 applicants have been pre-qualified and approved by the Steering Committee to proceed to the next stage.
He said the applicants will receive text messages and email requiring them to return to MSME Survival Fund Portal to complete their documentation.
“Applicants will have three days from the time they get the SMS/Email to log in and electronically complete all necessary documentation. This includes selection of a Warehouse or Collection Point closest to them for delivery.
” Applicants can accept to move ahead or decline to cancel their application. Once the documentation is completed, it cannot be reversed.
” Applicants are encouraged to print a copy of their completed documentation from the Portal. This will be used to verify supply details at the Warehouse/Collection Point.
” The total value of each Grant is N100,000. Applicants who successfully return to the portal to complete their documentation will receive N30,000 fee to commence production of their selected item.
“Applicants’ have 14days to complete production and deliver to their selected Warehouse/Collection Point.
” Applicants who successfully complete their documentation process will receive N30,000 as mobilization fee to produce and deliver items to their selected Warehouse/Collection Point. Upon successful delivery of items, the applicant will receive the balance of N70,000, ” he said.
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