Over 300,000 benefits from N10bn MSMEs Fund

10 Dec Over 300,000 benefits from N10bn MSMEs Fund

The Federal Government says the Micro, Small and Medium Enterprises (MSMEs) Survival Fund scheme has  benefited 300,000 directly, a total of  about to N10 billion.

Tola Johnson, Special Assistant to Vice President Yemi Osinbajo on MSMEs, said this on Wednesday in Abuja, at the Physical/Virtual 12th meeting of National Council on Industry, Trade and Investments.

Johnson, who is also the Project Coordinator of the fund, in a keynote address with the theme: “Impact of Survival Fund on the Economy of the Country ’’, said the numbers ramped up weekly once approved.

“As we speak, the Corporate Affairs Commission (CAC) is currently ramping up registration of new business names (250,000) for free to the MSMEs.

“By the end of December, we would have paid up 500,000 beneficiaries. It also means that we would have saved up to half a million jobs by December 2020 and will be on track to save additional 1.2 million by the end of the scheme,’’ Johnson said.