Latest News - Politics - September 26, 2020

2m Nigerians To Benefit From Survival Fund, Others – Osinbajo

Vice President Yemi Osinbajo says 1.7 to 2 million micro, small, and medium enterprises (MSMEs) will benefit from the recently launched Survival Fund and other business schemes.

The Vice President said this during a virtual interactive session by the Africa Report magazine which focused on Nigeria’s post pandemic recovery plan also referred to as ‘Bouncing Back’.

Osinbajo said as more Nigerians and small businesses register for the recently launched Survival Fund scheme of the Federal Government, more potential beneficiaries are going online to access the N60 billion Survival Fund whose registration started on Monday.He described progress recorded in the first three days of the registration of applicants as massive and impressive, restating the commitment of the Buhari administration to ensure effective implementation of all the schemes.

Osinbajo, while responding to a question on the implementation of the various schemes under the ESP for small and medium businesses, said the response by Nigerians to the recently launched Survival Fund was massive and assured that government remained committed to an effective implementation of the scheme.According to him, “A couple of days ago, the Ministry of Industry, Trade and Investment, launched the Survival Fund. The Fund includes a Payroll Support for about 500, 000 beneficiaries and the plan is to take qualifying businesses who have a minimum of 10 employees and pay salaries of those staff for three months.

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