pecial Assistant to President Muhammadu Buhari on Micro Small and Medium and Medium Enterprises(MSMEs) in the person of Tola Johnson, says 100,000 small businesses will get N50,000 each.
NAN reports that the gesture is a component of COVID-19 economic stimulus.
The presidential aide made the announcement at the inauguration of the Implementation of Survival Fund and Guaranteed Off-Take Stimulus Schemes for MSMEs on Thursday in Abuja.
Johnson, the Project Coordinator, said that the schemes were a part of the Economic Sustainability Plan drafted by vice chairman Yemi Osinbajo-led committee and approved by President Muhammadu Buhari.
“The Payroll Support targets 100,000 businesses. However, the amount of people who will enjoy this is often 500,000. What the govt has done is to mention that there tons of MSMEs that are suffering from the COVID-19 pandemic lockdown.
“Afterward, there’s a CAC (Corporate Affairs Commission) free registration; it’s free for the MSMEs but the govt is paying the CAC for this. What the govt has done is to mention to the CAC, you are doing this regularly to the MSMEs at about N12,000 or thereabout; provides it to us at half price, we’ll provides it to the MSMEs free.’’
Johnson added that under the National MSMEs Clinic, Osinbajo and therefore the Minister of Industry, Trade and Investment visited no fewer than 26 states.
He said it had been discovered that very creative businesses weren’t registered.
“They will say they don’t have N10,000 to N12,000 to register their businesses. the govt had promised that at some point, we’ll do and that i think the chance has come now; the chance can’t be better than now.’’
The official also announced that under the Survival Fund, the last strap would be the Transport and Artisans Support.
At least 333,000 beneficiaries will get a one-off N30,000 grant, Johnson added.
He added that the govt will work with associations, individuals and therefore the Ministry of Transportation to implement the scheme.