FG announces plans to launch survival fund for Nigerian businesses

FG announces plans to launch survival fund for Nigerian businesses

- Nigerian businesses are set to enjoy a lot more under President Buhari's administration

- The Nigerian leader recently announced plans to launch a survival fund

- The survival fund will be targeting small and medium-scale businesses across a number of sectors

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The federal government on Monday, September 7, announced plans to launch a survival fund, targeting small and medium-scale businesses across a number of sectors.

Legit.ng gathered that this was disclosed in President Muhammadu Buhari's opening speech delivered by Vice President Yemi Osinbajo at the first year ministerial performance review retreat, at the State House.

Tolu Ogunlesi, a special assistant to the president on digital and new media, via his verified Twitter handle, @toluogunlesi noted that the survival fund will include a payroll support scheme that will pay up to N50,000 monthly per qualifying/selected beneficiary.

FG announces Nigeria set to launch Survival Fund for Nigerian businesses

President Buhari has announced plans to launch a survival fund for Nigerian businesses. Photo credit: muhammadubuhari/Instagram
Source: Instagram

"President announces #Nigeria set to launch a Survival Fund, targeting small and medium-scale businesses across a number of sectors. Will include a Payroll Support scheme that will pay up to N50,000 monthly per qualifying/selected beneficiary," he tweeted.

The cabinet retreat presided over by Osinbajo had in attendance Boss Mustapha, the secretary to the government of the federation, and Agboola Ibrahim Gambari, president's chief of staff.

Others included ministers, heads of MDAs, and senior government officials.

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Earlier, Legit.ng reported that even though Nigeria's Gross Domestic Production (GDP) dropped by 6.10% in the second quarter of 2020, Bashir Ahmad, an aide to the Nigerian president on new media, said the West African giant has outperformed most developed market economies.

The presidential aide made the statement on Monday, August 24, shortly after the Nigeria Bureau of Statistics (NBS) released Nigeria’s economic report for the second quarter.

Ahmad cited a global chief economist; Charlie Robertson who pointed out that the Nigerian economy outperformed most developed market economies in the second quarter of 2020.

In other news, PresidentnBuhari, on Tuesday, August 25, unveiled his plan for Nigeria for the remaining part of his second administration which is to expire in 2023.

The Nigerian leader, in a statement released by a presidential media aide, Femi Adesina, disclosed that he will spend the next three years on service delivery to Nigerians in some key sectors of the nation's economy.

The president listed these sectors that will experience unequalled development will be education, health care and agriculture.

5 years after, Nigerians speak about Buhari's administration | Legit TV

Source: Legit

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