- Jobs in Nigeria will be saved as the federal government says it is rolling out measures to help MSMEs
- The FG also says its measure will help sustain local production
- Meanwhile, Nigerians will soon be able to access the funds
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The federal government has revealed that it is rolling out plans to save jobs and sustain local production.
The FG disclosed this in a statement posted on one of its official Facebook pages on Monday, August 10.
According to the statement, the plan will be rolled out under the National Economic Sustainability Plan (NESP), support schemes for MSMEs nationwide.
It said details of Nigerians that can access the support will be unveiled by the implementation committee.
The government also listed Amb Mariam Katagum, Ibukun Awosika, as chairman and vice-chairman of the committee.
The statement read in full:
"The federal government is rolling out, under the National Economic Sustainability Plan (NESP), support schemes for MSMEs nationwide, including a Guaranteed Offtake Scheme (guaranteeing off-take of priority products); and an MSMEs Survival Fund that will make payroll support available to save jobs and sustain local production. Details on how to access these MSME Support initiatives will be unveiled soon, by the Implementation Committee.
"Chair of the committee is minister of state for federal ministry of industry, trade & investment, Amb Mariam Katagum; vice chair, founder Chair Center LTD and Chair of First Bank Nigeria, Ibukun Awosika."
Meanwhile, Legit.ng had reported that a member of the House of Representatives, Muda Lawal, has commended President Muhammadu Buhari and the minister of sports and youth development, Sunday Dare, on the establishment of Nigerian Youth Investment Fund.
He said the initiative by the federal government is an indication that everything which concerns Nigerian youth is a priority to the president.
Lawal who represents Toro federal constituency of Bauchi state said the newly established initiative is worthy of emulation across all sectors of the nation's economy.
The lawmaker, a devoted youth advocate who had sponsored a motion at the lower chamber called for a declaration of a state of emergency on youth development in Nigeria.
He said the swift move by the president and the minister makes it clear that the executive arm understands that devising means of addressing the socio-economic factors bedevilling youths in the country is important.
"Establishing the Nigerian Youth Investment Fund goes a long way to show that the president is sensitive to the plights of the youths in Nigeria and is willing to address them," Lawal said.
In a statement issued on Monday, July 27, Lawal said no meaningful economic development can be achieved in any given society if various economic factors militating against the youths are not addressed.
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