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174, 215 BUSINESSES BENEFIT FROM FG’S MSME SURVIVAL FUNDS IN SOUTH EAST

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The Micro and Small Medium Enterprises, MSME, steering committee of survival fund and guaranteed off-take scheme program on Tuesday held a town hall meeting to sensitise the beneficiaries from South East and general public on the advantages of federal government FG interventions.

Speaking during the Town hall meeting at Toscana Hotel, Enugu, a member of steering committee, Mr Ubadigbo Okonkwo lauded federal government for providing focused and purposeful leadership for the Nigeria Economic Sustainability Plan, NESP, stressing that 174,215 businesses from South East benefited.

He disclosed that the guaranteed off-take scheme and MSME survival fund was born out of the need to stimulate the economy post lockdown, especially for small and medium-scale businesses and self employed individuals previously gainfully employed by creating production opportunities for MSMEs and providing conditional grants to distressed businesses.

While regretting some deviant cases where 19,928 MSMEs, failed to supply items after receiving initial 30% mobilization, disclosed that STEERCO has directed the appropriate agencies to commence the process of recovering it

“I welcome you all to this beneficiary townhall meeting on the MSME Survival Fund and Guaranteed Off-take Scheme; a program of the Federal Government of Nigeria under the Nigeria Economic Sustainability Plan, NESP.

“From the outset, the Federal Ministry of Industry, Trade and Investment express its appreciation to His Excellency, President Muhammadu Buhari, GCFR, for his exemplary leadership, love, and concern for the citizens of this country that resulted in the approval of various interventions for the growth and development of the economy.

“We are equally grateful to His Excellency, the Vice President, Professor Yemi Osinbajo GCON, for providing focused and purposeful leadership for the NESP, especially the conceptualization and implementation of the MSME Survival Fund.

“The purpose of the town hall meetings is to highlight the Scheme’s achievements around the country and to receive beneficiary feedback on all tracks of the Scheme. The meetings will also serve as a medium to sensitize the public on the advantages of Federal Government interventions.

“As you all know, in Nigeria, as across other parts of the world, the COVID-19 Pandemic caused disruptions in demand and supply chains, especially for corporate and household products and commodities. The Federal Government responded with the MSME Survival Fund and Guaranteed Off-take Scheme as its interventions to support micro and small businesses adversely affected by the Pandemic.

“This was borne out of the need to stimulate the economy post lockdown, especially for

small and medium-scale businesses and self-employed individuals previously gainfully employed, by creating production opportunities for MSMES and providing conditional grants to distressed businesses and self-employed individuals who have been strained with payment of salaries post COVID 19,” he said.

One of the beneficiaries, Darlington Nnamani, said the survival fund came timely when his commercial tricycle business came to halt due to an engine problem.

“It was devastating to me even as I have to go and start begging everyone in my neighbourhood in Awkunannaw in Enugu and also went to the house of enemies but to no avail.

“After two days of looking for solution, suddenly an alert of N30,000 came from the fund and that changed the story and today, the same tricycle is helping me to still fend for my family,” Nnamani said

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