You can access the National MSMEs Survival Fund portal via https://survivalfund.ng if you want to apply for the payroll support and the Guaranteed Offtake Scheme.
The National Survival Fund is designed to aid Nigerian MSMEs in surviving the shock of COVID-19 and its adverse effect on the economy. It will ensure that 45% of beneficiaries are female-owned businesses and 5% are owned by persons with special needs.
To benefit from National MSMEs Survival Fund, your business must:
—Be Nigerian-owned —Be CAC-registered —Business owner must have a BVN —Staff strength of not less than 10 for Payroll Support and 3 for GoS.
Under the National Survival Fund is a Payroll Support Scheme, vulnerable registered businesses will be supported in meeting their payroll obligations of between N30,000 to N50,000 per employee to safeguard the jobs of a maximum of 10 employees over a 3-month period.
In addition to registered businesses, the National MSMEs Survival Fund will also cater to a second category of Nigerians: the Self-employed, including:
- Service providers in the transportation sector, i.e. Bus/Taxi drivers, Rideshare drivers, Auto-Mechanics
- Artisans (Electricians Plumbers etc)
The artisans and transport business operators will receive a one-off N30,000 operations grant to reduce the effects of income loss caused by the COVID-19 pandemic.
As part of the National MSMEs Survival Fund, there is a Formalization Support for 250,000 businesses in Nigeria, which will be offered CAC free business name registration.
According to the HMS @TradeInvestNG, every State in Nigeria (and the FCT) will benefit from the MSMEs Survival Fund. Lagos, Kano and Abia will receive special focus, on account of their status as leading MSME hubs, but no State will be left out.
How To Register or Apply for National MSMEs Survival Fund In Nigeria
Registration for the National MSMEs Survival Fund will begin on 21st September 2020
Visit the National MSMEs Survival Fund portal or website at – www.survivalfund.ng to fill and submit your application form and to get more info about the initiative.
Follow the #SurvivalFundNG on Twitter: @SurvivalFund_ng for updates.