MSME Survival Fund: FG Reaffirms Commitment on Support

The federal government has reaffirmed its determination for supporting small and medium-scale entrepreneurs through the MSME Survival fund, aimed at enhancing the development of small and medium entrepreneurs.

The minister of state for Industry trade and investment Ambassador Maryam Katagum stated this during a town hall meeting with beneficiaries of the Survival Fund, Held in Kano.

The minister who was represented by the Director General of Small and Medium Enterprises Development Agency Mr. Olawale Fasanya said the purpose of the meeting was to highlight the scheme’s Achievement around the country and to receive beneficiary feedback.

He said the program gave a special focus on 45% of female-owned MSMEs, and 5% of those with special needs, stressing that the target beneficiaries for the scheme were self-employed entrepreneurs and micro small businesses registered in Nigeria.

“The anticipated impact of the program was to directly engage one hundred thousand MSMEs in the production sector alone and save at least one thousand three hundred jobs”

The minister noted that the implementation of the survival fund Across the tracks has yielded positive results, which include Artisan and transport schemes, formalization support schemes, General MSME Grants schemes, and Guaranteed offtake schemes.

He added that the town hall meeting was being conducted in the southwest, northwest, southeast, and south South zone.

Ibrahim Aminu and Martha Godwin were among the beneficiaries of the MSME survival Fund,the applauded the commitment of the federal government to initiating the scheme.