The Online portal for the registration of beneficiaries for N75 billion Survival Fund for micro, small and medium enterprises (MSMEs) opens today Monday 21 September at 10.00p.m. local time.
The MSME Survival Fund is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector.
The Federal Government aims to help MSMEs in three ways:
- Payroll Support: Support 500,000 vulnerable MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over 3 months;
- Formalisation Support: Provide free CAC business registration for 250,000 new businesses
- General Grant: Support the survival of 100,000 businesses most affected by the COVID pandemic with N50,000 each.
In a statement issued on Sunday by the Project Office, it was stated that the portal which opens at 10 pm, will have educational institutions as the first category of beneficiaries to register.
“Nigerians interested in the Payroll Support scheme are to note that the site for registration will be open from 10 p.m. Monday September 21, 2020.
“In order to ensure seamless registration process, the Project Delivery Office has designed a registration schedule.
“Registration for Payroll Support will start with educational institutions on Monday and will be followed with businesses in the hospitality industry on Friday September 25 beginning from 12 a.m.
“The portal will also be open to other category of small businesses from 12 A.M., on Monday September 28, 2020,” the statement said.
The office therefore advised those interested in benefiting from the fund to take note of the schedule and also log on to http://www.survivalfund.ng to register for the payroll support initiative.
The project, which will run for an initial period of three months, is targeting 1.7 million entities and individuals and has provisions for 45 percent female-owned businesses and five per cent for those with special needs.
