Starting from February 9, 2021, 200,000 owners of Micro Small and Medium Enterprises operating across Nigeria will be able to benefit from a fresh business grant from the Federal Government.
Two initiatives, the Guaranteed Off-take Stimulus Scheme (GOS) and General MSMEs Grant, which are part of the MSME Survival Fund, plans to sustain the businesses of 200,000 beneficiaries across the country.
The Minister of State at the Ministry of Industry, Trade and Investment, Ambassador Mariam Katagum, at a media briefing on Thursday, said 100,000 beneficiaries of the General MSMEs Grant would get a one-off N50, 000 grant, especially those who did not meet the qualification of the Payroll Support or Guaranteed Offtake Scheme.
She added that said the Guaranteed Off-take Stimulus Scheme aimed to stimulate direct local production post COVID lock down stimulus products face masks, hand sanitiser, liquid soap, disinfectant and processed foods for another 100,000 MSMEs.
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She said, “The Scheme will give preference to products produced in reasonably sufficient volumes in each State of the Federation, which have the proven propensity to create jobs and have a multiplier effect on the surrounding economy.
“The products are face masks, hand sanitiser, liquid soap, disinfectant and
processed foods.
Commenting on the target beneficiaries and eligibility, the minister said only MSMEs registered in Nigeria and owned by Nigerians will get patronage from the government via procurement of products with a value of N150,000 per business entity.
Under these two initiatives, the minister said the portal would open from Tuesday, February 9, 2021 to Thursday February 18, 2021 for the Guaranteed Off take Scheme (GOS) and General MSME Grant Applications.
