Fund and Guaranteed Off take Stimulus Scheme chaired by the Honorable Minister of State (Federal Ministry of Industry, Trade and Investment), Ambassador Mariam Y. Katagum, wishes to announce the commencement of the Guaranteed Off take Stimulus Scheme and the MSME Grant portal opening from the 9th February, 2021.
The Guaranteed Offtake Stimulus Scheme is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products. A total of 100,000 Micro and Small Enterprises are to benefit from the scheme. The total target national number of beneficiaries is 100,000 (Lagos 3,880, Kano 3,280, Abia 3,080 while other States will each have 2,640 beneficiaries). Read also FG Gives Update On NYIF Loan Disbursement
The Requirements and Qualifications for this Scheme are as follows:
- Applicant must ‘be registered with the Corporate Affairs Commission (CAC) with at least a business: name.
- Applicant must be ready to produce under NAFDAC and SON specifications
- Applicant must have a verifiable BVN and Ban account number
- Applicant must have at least 2 staff members.
The list of products captured in the Guaranteed Off-take Stimulus Scheme track is as seen in image below:
The General MSME Grant is a one off grant of N50,000 that will be given to each qualified MSME as direct cash injection into their enterprise. The total number of beneficiaries in this track is 100,000 spread across the States.
All potential beneficiaries must meet the following criteria:
1. Must be a Nigerian national
2. Must be registered with the Corporate Affairs Commission (CAC) with at least a Business Name certificate
2. All applicants must have a verifiable BVN and Bank account number.
For further details, please visit: https://www.survivalfund.gov.ng
Kindly note that registration for this scheme is ABSOLUTELY FREE. Beware of fraudsters.