Survival Fund: Lagos, Kano Tops Federal Government's Beneficiaries List

Survival Fund: Lagos, Kano Tops Federal Government's Beneficiaries List

  • Lagos state and Kano states would benefit more from the federal government's survival fund scheme
  • This development was made known by the Minister of State for Industry, Trade and Investment, Mariam Katagum and confirmed by the special assistant to the Vice-President Yemi Osinbajo
  • Katagum hinted further that each state would soon receive a minimum of N1.7bn cumulative from all the schemes

The Minister of state for industry, trade and investment, Mariam Katagum, disclosed recently that Lagos, Kano and Abia states are the biggest beneficiaries of the Federal Government’s Survival Fund, having received N2.5billion, N2billion, and N1.7billion respectively.

This disclosure was the highlight of a presentation made by the minister at the first meeting of the Economic Sustainability Committee in 2022.

The Punch reports that the senior special assistant to the Vice President on media and publicity, Laolu Akande, disclosed this on Monday, January 10, in a statement titled, ‘VP receives ESP update, as MDAs report progress with over 2 million jobs saved, created so far.

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Lagos, Kano tops federal government's survival fund beneficiaries list
Vice President Yemi Osinbajo Chaired the Economic Sustainability Meeting on Monday, January 10. Photo credit: Professor Yemi Osinbajo
Source: Facebook

The presentation

In the presentation on the Survival Fund, Katagum disclosed that while all States of the Federation have received varying levels of the N75bn Survival Fund with its different schemes, eventually each state would soon receive a minimum of N1.7bn cumulative from all the schemes.

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She also revealed that Lagos, Abia and Kano states had crossed the bar, with Lagos reaching over N2.5billion and Kano over N2billion. No state has received anything less than N1bn so far.

VP Yemi Osinbajo receives report

Vice President Yemi Osinbajo, who presided over the virtual meeting of the Committee on Monday at the Presidential Villa, received reports from federal ministers and heads of agencies on the progress in the implementation of the Economic Sustainability Plan of the Buhari government.

Qualifying for FG's survival loan for small businesses

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Meanwhile, had earlier reported about what the Nigerian government is doing to mitigate the mounting impacts of the coronavirus pandemic on Nigerians and their businesses.

This is a question on the lips of many as the deadly virus has not only caused a global health crisis but also brought the global economy to its knee.

To answer the question, the Nigerian government has just announced two important social intervention programmes:

Nigeria's debt has grown threefold in seven years, activist says

In another development, Rights activist, Chidi Odinkalu, has said Nigeria’s debt profile has increased three times in the last seven years, that is since Muhammadu Buhari mounted the saddle as Nigeria’s president.

Odinkalu said this in a tweet but did not expatiate as he only provided an undated chat from the Nigeria Bureau of Statistics (NBS).

Odinkalu may not be an economist but available data from Debt Management Office (DMO) says Nigeria’s debt profile has soared to about N35.65 trillion recently because of increased borrowing by Buhari's government.


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