Application for Federal Government 75bn Survival fund still on. Hurry and apply. Beginning from 21st September to 15th October.

 Application for Federal Government 75bn Survival fund still on. 

Application for Federal Government survival fund


The Federal Government of Nigeria, has released another huge sum amounting to 75 billion Naira, to serve as MSMEs Survival fund.


The fund is to serve as grants to support Venerable Micro, Small and Medium enterprises (MSMEs) in Nigeria that where affected negatively due to the sudden shut down, caused by the Coronal Virus pandemic.


The MSMEs Survival Fund shall be disborsed categorically among the following categories of MSMEs.


Payroll Support (to support 500,000 MSMEs whose payrolls where disrupted by the pandemic) 


Are you an employee and you have about three or more workers under you? 

This payroll support is open to all sectors which include, private school owners, private bussinesses and ventures that have workers under them who's  Bussinesses and payroll where  affected by COVID19 pandemic. 


Under this scheme, the Federal Government shall be granting registered qualified Bussines ventures including private schools, the sum of N30-50,000 to each staff of such venture that where affected within a period of 3 months. 


How to qualify for the MSMEs Federal Government payroll.


To qualify for Payroll Support

Your bussiness must be fully registered with all the necessary documents in place.

Be able to present your payroll with evidence of your current payment.


The following documents will be required.

1. Company Registration Details (RC No., TIN)

 2. Annual turnover/Turnover for the past 12 months

3. Employee Account Numbers and BVNs

4. Proof of last three (3) salaries paid to your employees.

2) Formulations Support.

This is to provide free CAC Bussiness name registration for 250,000 new Bussinesses. 

Those with Bussinesses that are yet to be formally registered and recognised can key into this policy and have their Bussinesses registered by the government.


3) General grants.


The general grant policy is to support 100,000 Bussinesses with the sum of 50,000 each to aid them recover from the economic challenges they faced during the lock down. 

4) Artisan/Transport Support.

This scheme is aim at providing 333,000 artisans and commercial transport workers who where hit by the effects of the shutdown, the sum of N30,000 each to ease the effects and at least reduce their loses. 


5) Guaranteed offtake Scheme. 


Guaranteed offtake Scheme is to encourage producers of various products such as hand sanitizers, face masks and other items that will be of help to the society in this instance. 

The government shall be purchasing these items in bulk from the producers to enable them move forward with bussiness. 


So, it is pertinent you apply for this scheme as it is not a loan but free will donation from the federal government. 


Note! There is schedule for every category. So far, room is open for only payroll support applications, which started on 21st September to end on 25th September.


Applicants whose area of bussiness do not fall under the payroll are expected to be patient and wait for their schedule which probably comes up on 28 September 2020.

To apply, visit 

Https://www.survivalfund.ng



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