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| Ambassador Mrs. Miriam Katagum, Chairperson of the Survival Fund Steering Committee. |
The Federal Government of Nigeria yesterday resumed full payment under payroll scheme of the Survival Fund stimulus, a programme birthed from the Economic Sustainability Plan by the the Vice President Yemi Osibanjo’s lead Federal Economic Council (FEC) to mitigate the effects of COVID-19 on Macro Small and Medium Enterprises (MSMEs).
(adsbygoogle = window.adsbygoogle || []).push({}); The Steering Committee Chaired by the Minister of State for Industry Trade and Investment, Ambassador Mrs. Miriam Katagum had in September 2020 rolled out the Survival Fund stimulus package with plans to help Macro, to Small and Medium Enterprises MSMEs pay their employees for three months due to inability of those companies to meet up with certain obligations that Corona Virus might have unleashed on them.
During the first meeting of the Federal Economic Council (FEC) which was Chaired by the Vice President, his Excellency, Prof. Yemi Osibanjo, the Steeling Committee rekindled the hope of Nigerians who applied for the stimulus package and were verified. The Senior Special Assistant to the President on MSMEs Mr. Akande said;
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(adsbygoogle = window.adsbygoogle || []).push({}); “The programme was a huge success so we briefed the President on its huge success and how Nigerian expressed optimism that more of such programmes will be designed to help revive our crashing economy by all means.”
The resumption of disbursement of the stimulus is worth commending the federal government for delivering it’s promise on time.
At least more than one million people from at least 345,756 MSMEs have benefited from the programme in the past one and a half year, the programme coordinator stated.
Under the payroll beneficiaries began to receive their complete payment of either N90,000 or N150,000 as the Steeling Committee stated during the unveiling of the programme in 2020.
(adsbygoogle = window.adsbygoogle || []).push({}); The Vice President Yemi Osibanjo had promised more stimulus packages to help reduce the hardship being faced recently throughout the country. The Vice President stated that about N3.2 trillion was set aside for this very purpose and we will soon channel it appropriately.
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