FG MSME Survival Fund: Payroll Support Scheme To Be Extended
Portal to be reopened for 7 days for states yet to meet quota
The payment for the beneficiaries of the FG MSME survival fund payroll scheme started on October 26, 2020 after its application ended on the 15th of the same month. Following the success of the program, the Buhari-led administration has thus extended the scheme by 7 days. Employees are expected to be paid N30,000 or N50,000.
The Steering Committee of the MSME Survival Fund and the Guaranteed Offtake Scheme Chaired by the Hon Minister of State, Federal Ministry of Industry, Trade and Investment, Ambassador Mariam Katagum, wishes to inform the Public that the MSME Survival Fund Payroll Support Portal (https://survivalfund.gov.ng/) will be exceptionally reopened for States that have not met their quota.
The Portal will be open from from 27th January to 2nd February 2021.
To date, the following States have met their quota and are consequently NOT ELIGIBLE to participate in reopening exercise. The States are: Benue, Plateau, Bauchi, Kano, Kaduna and Rivers and the FCT.
The re-opening of the Payroll Support Portal will cut across all sectors, which are: educational, hospitality and general sector.
The public is reminded of the qualification requirements listed below:
- Businesses must have CAC registration.
- Businesses must have a minimum of 10 and a maximum of 50 staff.
- Business must be owned by Nigerians.
- Must have verifiable BVN.
- The Scheme provides for 45% female participation and 5% Special Needs participation.
The payroll Support Track of the MSME Survival Fund Scheme, “a component under the Nigeria Economic Sustainability Plan,” which was flagged off on the 21st of September 2020, is aimed at supporting vulnerable MSMEs in the payroll obligations of over 500,000 employees for a period of 3 Months.
Kindly note that registration for this scheme is FREE. Beware of Fraudsters.
For further details please visit www.survivalfund.gov.ng