238,868 Nigerians received MSMEs survival fund so far – Project Office

No fewer than 238, 868 individuals from 41,726 businesses have been paid various sums under the Payroll Support Scheme as at Dec. 8, an update by the Project Delivery Office, PDO, has said.

The update was made available to newsmen on Friday in Abuja by Tola Johnson, Special Assistant to the President on Micro Small and Medium Enterprises, MSMEs, Office of the Vice President and Coordinator, PDO.

The Payroll Support is a component of the Survival Fund Scheme for MSMEs captured under the National Economic Sustainability Plan drafted by the Vice President Yemi Osinbajo-led Economic Sustainability Committee and approved by President Muhammadu Buhari.

The update indicates that disbursements to approved Payroll Support beneficiaries which commenced on Nov. 17, is progressing well with 2.6 per cent of the beneficiaries representing persons with special needs.

It shows a 43 per cent coverage of female beneficiaries has also been achieved in line with the project objective.

“A further breakdown of the beneficiaries indicates that 211, 347 persons have received N30, 000 each under the scheme, while 53, 347 others were paid N50, 000 each.

“More beneficiaries will be added to the payroll as soon as enumerators complete the verification of data submitted by the MSMEs.

“For the Transport track inaugurated across the states in the country on Nov. 30, the PDO is currently receiving lists of prospective beneficiaries from identified associations and State focal persons.

“As enumeration will commence as soon as synchronisation is achieved between the PDO and stakeholders.

“The lead identified associations under this track include, the National Union of Road Transport Workers (NURTW).’’

According to him, other associations identified are Transport Employers’ Association of Nigeria (RTEAN), Nigerian Association of Road Transport Owners (NARTO), and National Commercial Tricycle/ Motorcycle Owners and Riders Association (NACTOMORAS).

The update shows that the Artisan track being implemented in streams was also progressing satisfactorily with the commencement of enumeration of prospective beneficiaries in states that fall under the third stream.

The enumeration for stream three started on Nov. 30 in Akwa-Ibom, Cross-River, Zamfara, Yobe, Sokoto, Nasarawa, Niger, Imo, Oyo, Osun, Jigawa, Gombe and Benue.

“The Formalisation Support Track for 250, 000 new businesses which commenced on Oct. 26, is also ongoing with aggregators (CAC registration agents) registering prospective beneficiaries across the 36 states and the FCT at the same time.

“This scheme is ongoing and will run for a period of three months effective from the date of commencement. Any state which quota is met before the expiration of the three-month time will be automatically closed.

“Applicants are once again advised not to patronise middlemen or pay any sum to be enlisted on any of the schemes as selection of beneficiaries will continue to be on a first come first serve basis.’’