FG finally announces date for opening of portal for MSME intervention fund

FG finally announces date for opening of portal for MSME intervention fund

- The portal for the registration for the MSME intervention fund will be opened on February 9

- Mariam Katagum, the minister of state for industry, trade and investment, disclosed that a total of 100,000 MSMEs would benefit from the scheme

- The minister noted that the deadline for the registration is Thursday, February 18

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The Nigerian government has announced that registration for the guaranteed offtake stimulus scheme and the general Micro, Small and Medium Enterprise (MSME) grant would commence on Tuesday, February 9.

The Nation reports that this was announced by the steering committee of the MSME survival fund and guaranteed offtake stimulus scheme chaired by the minister of state for industry, trade and investment, Mariam Katagum.

Legit.ng gathered that while speaking with journalists in Abuja on Thursday, February 4, the minister said the portal would be opened from 11:59 pm on Tuesday, February 9 to Thursday, February 18.

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FG finally announces date for opening of portal for MSME intervention fund

The minister of state for industry, trade and investment, Mariam Katagum, says the portal would be opened on February 9. Credit: @SurvivalFund_ng
Source: Twitter

According to the report, the guaranteed offtake stimulus scheme is targeted at protecting and sustaining the incomes of vulnerable MSMEs by guaranteeing the offtake of their products.

The committee said a total of 100,000 MSMEs would benefit from the scheme, adding that Lagos would get 3,880 beneficiaries, Kano 3,280, Abia 3,080 while other states will each have 2,640 beneficiaries.

The products captured in the scheme included face masks, hand sanitiser, liquid soap, disinfectant and processed foods.

The general MSME grant, a one-off grant of N50,000, is designed to help boost the growth of 100,000 MSMEs in the country.

The committee warned Nigerians to be wary of fraudsters as the registration is absolutely free.

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Meanwhile, Legit.ng had previously reported that Vice President Yemi Osinbajo topped the list of prominent Nigerians who graced a summit organised by the Nigerian Young Professionals Forum (NYPF), in Port Harcourt as Niger Delta youths begin plans for life beyond oil.

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It was reported that the chairman of NYPF, Moses Siloko Siasia told journalists on Friday, January 22, that the summit would champion a new narrative towards stimulating the growth of MSMEs in the Niger Delta region.

He added that the event which was earlier planned for March 2020 was moved to Friday, February 12, due to the ravaging coronavirus pandemic.

Source: Legit

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