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SURVIVAL FUND: Each State to be paid at least N1.7 billion cumulative from all the schemes of the programme

Ambassador Miriam Katagum, the Minister of state for Trade and Investment and the Chairman Survival Fund Steering Committee

The Federal Government on Friday finished up its first Economic Sustainability Committee in 2022, which uncovered that around 2.1 million positions have been held or made through the execution of the ESP programs. (adsbygoogle = window.adsbygoogle || []).push({}); It was additionally revealed that the NSIA will support Solar Power Naija with N10 billion as a component of 5 million family’s associations target.

The Vice President, Yemi Osinbajo, SAN, presided a virtual gathering of the Committee on Friday, January 14 at the Presidential Villa.

The Minister of State for Industry, Trade and Investment, Ambassador Mariam Katagum, uncovered that while all conditions of the league have gotten fluctuating levels of the N75 billion Survival Fund with its various plans, each state would before long get at least N1.7 billion aggregate from every one of the plans.

(adsbygoogle = window.adsbygoogle || []).push({}); The ESP was sent off in 2020 to alleviate the impacts of the pandemic on the economy. The introductions uncovered that 2.1 million positions have been held or made through the execution of the ESP programs.

Others incorporate the endorsement of N10 billion by the Nigeria Sovereign Investment Authority (NSIA) to support the sending and nearby gathering of 200,000 (off-lattice) Solar Homes Systems under the “Sunlight based Power Naija” association between both the NSIA and Rural Electrification Agency (REA).

(adsbygoogle = window.adsbygoogle || []).push({}); The Trade Ministry additionally uncovered that under the N75 billion Survival fund each state would before long get at least N1.7 billion combined from every one of the plans.

“Lagos, Abia and Kano States have as of now crossed the bar, with Lagos coming to over N2.5B and Kano over N2B. No State up until this point has gotten anything short of N1 billion,” Katagum said.

In the mean time, the Minister of State, Budget and National Planning, Clem Agba, expressed that “While around 1.3 million positions were held through the MSME and Payroll support, 774,000 positions were made from the Public Works Program and 26,021 positions from streets development/recovery.”

(adsbygoogle = window.adsbygoogle || []).push({}); Along these lines, the Committee was informed that over 1.1 million Nigerians have profited from the various plans under the ESP MSME Survival Fund, in this manner saving great many positions. A breakdown displayed there are 459,334 recipients under the Payroll Support Scheme; 307,687 recipients from the Artisan and Transport Scheme.

Also, 82,491 Nigerians are up until this point recipients of the General MSME Grants Scheme, and another 17,468 of the Guaranteed Offtake Scheme. Likewise, 250,000 business names were enlisted free under the Survival Fund’s CAC Formalization Support Scheme.

(adsbygoogle = window.adsbygoogle || []).push({}); Review Nairametrics announced last December that the Nigeria Sovereign Investment Authority (NSIA) has said that it is teaming up with the Rural Electrification Agency (REA) to contribute an underlying amount of N10 billion to give north of 200,000 sun oriented capacity to homes under the ‘Sun based Power Naija’ program.

The NSIA in its proclamation said, “This venture by NSIA is designated at catalyzing 200,000 off-lattice associations in the primary case with an objective of coming to north of 500,000 frameworks as the asset spins and is extended through to 2023.

(adsbygoogle = window.adsbygoogle || []).push({}); “The program is assessed to likewise make up to 20,000 positions across assembling, gathering, establishment and retail over the period.

“Also, this association will assist Nigeria with meeting its Economic Sustainability Plan (ESP) focus of expanding zap, this is a stage towards making 5,000,000 sunlight based associations throughout the following not many years.”

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Written by T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog.
Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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