- A young man identified as Kunle O is one of the beneficiaries of the FG’s MSME Survival Fund programme
- Kunle O shared a screenshot of a credit alert he got from the Bank of Industry
- The young man said he was happy to be one of the beneficiaries of the programme, noting he does not know anyone in government
Simply identified as Kunle O, a young Nigerian could not contain his excitement on Monday, March 8, when he received a credit alert from the Bank of Industry following his successful application for the federal government’s Survival Fund programme.
The Survival Fund is an initiative by the federal government set up to ensure Nigerian Micro, Small & Medium Enterprises (MSMEs) survive amid the damaging impact of the coronavirus pandemic.
The programme includes Payroll Support, Guaranteed Offtake and MSME Grant.
The Payroll Support is meant for business owners who are experiencing difficulties paying their staff salary. The salary support ranges between N30,000 and N50,000.
Under the MSME Grant, the federal government will provide credit support to MSMEs and key sectors impacted by the COVID-19 pandemic with a view to enabling an increase in manufacturing capacity.
The Guaranteed Off-take scheme, as the name implies, is to guarantee the offtake of the products of the beneficiary companies. The target beneficiaries are the MSMEs that are ready to launch their products.
Sharing a screenshot of the bank alert on Twitter, Kunle O, expressed happiness that he benefited from the programme, noting that he got the fund on merit as he does not have any connection in the government.
The excited young man tweeted:
“It don happen ooo! the FG has kept to their words as touching #SurvivalFundNG I know no body in govt. Am happy to say am a beneficiary.”
Answering a question regarding the process, Kunle O said he started the process in 2020. He added that he experienced some “difficulties” along the line but he “didn't throw in the towel”.
Meanwhile, the federal government has announced that the Nigeria Youth Investment Fund (NYIF), being implemented by the Ministry of Sports and Youth Development, has successfully completed its pilot disbursement of loans totalling N165,700,000 to 239 beneficiaries.
This was revealed in a tweet by the presidency seen by Legit.ng on Wednesday, February 3.
The government also revealed that it has processed over three million applications so far received from youths interested in the initiative.
Nurudeen Lawal is a Legit.ng journalist passionate about fact-checking/verification journalism. He holds a Bachelor of Arts degree in Literature-in-English from Obafemi Awolowo University, Ile-Ife, Osun State. As Politics Editor, Nurudeen mostly writes on Nigeria’s political and socio-economic developments. He has attended different workshops, conferences and training on fact-checking and digital reporting, among others. Learn more about him on Twitter, @Nurudeen Lawal_