FG To Continue Payment

The Federal Government is set to continue payments of grants to individuals and businesses as part of its efforts to reduce the harsh impact of the coronavirus pandemic on Nigerians, a spokesman said on Sunday.

The payments are ongoing under the government’s Survival Fund initiative, part of the Economic Sustainability Plan (ESP).

The President Muhammadu Buhari on June 24,2020, approved a N2.3 trillion stimulus package, for the ESP

However the entitlement of Micro, small and medium enterprises (MSME) is a grant of N50,000 as part of the initiative.

To save jobs, the payroll support track of the programs also aims to support 500,000 businesses with payment of up to N50,000 per employee for a period of three months.

While Artisans and transport business operators are to get a one-time grant of N30,000.

According to a statement from State House spokesman Laolu Akande, 319,755 Nigerians have already benefited from the payroll support track;

While 265,425 Nigerians have benefited under the Artisan and Transport Support track.

The scheme is also helping small businesses register with the Corporate Affairs Commission (CAC).

About 172,129 businesses have so far benefitted from the registration support. The goal is to register 250,000 new businesses.

The Covid support plan postulates to save not less than 1.3 million jobs across the country and specifically impact on over 35,000 individuals per state, according to the government.

Applications for the MSME Grants and the Guaranteed Off-take Stimulus Scheme opened on February 9 and closed on March 1.

FG To Continue Payment

By Onome F.E

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