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Survival Fund: FG disburses N57bn to 1 million Nigerians, businesses

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The Federal Authorities has disbursed N56,842,780,000 to 1,079,323 individuals and companies below the Survival Fund programme.

The businesses embody these registered below the Company Affairs Fee (CAC).

Maryam Katagum, Chairperson of the Survival Fund Steering Committee, gave the main points at a information convention on Tuesday in Abuja.

Katagum, the Minister of State, Business Commerce and Funding, additionally flagged off the Assured Off-take Scheme, with 50,032 beneficiaries already shortlisted.

The official mentioned the scheme was the final monitor of the Micro Small and Medium Enterprises (MSMEs) Survival Fund.

The goal is 100,000 beneficiaries however as on the time the portal closed, solely 65,976 functions had been obtained. 50,032 entries throughout Nigeria scaled the pre-qualification take a look at and had been shortlisted.

“To this point, we’ve efficiently disbursed the sum of N56,842,780,000.00 to 1,079,323 together with these registered below CAC”, Katagum confirmed.

“The Federal Authorities is about to roll out the final element of the Survival Fund often called the Assured Off-take Scheme (GOS).”

Noting that COVID-19 brought on a drop in demand for company and family merchandise and commodities, the Assured Off-take scheme was conceived to help small companies.

Katagum defined that the graduation was delayed attributable to points from different programmes resembling failed funds, balancing worth and guaranteeing fairness amongst states.

For verification and pre-qualification, the minister mentioned the beneficiaries should be Nigerians with legitimate BVN and have a workers power of not lower than three.

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