How your business can benefit from the FG N75b Survival Fund

How your business can benefit from the FG N75b Survival Fund

The Federal Government (FG) has released the guidelines to access the N75 billion Micro, Small and Medium Enterprises (MSME) Survival Fund and Support Initiatives, which took effect from September 21, 2020.

The scheme, which is the core of the N2.3 trillion stimulus package of the Nigerian Economic Sustainability Plan includes the N60 billion MSMEs Survival Fund and the N15 billion Guaranteed Offtake Schemes.

This disclosure was made in an official statement by the Federal Government through a series of tweet posts on its official Twitter handle.

SURVIVAL FUND: FG OPENS REGISTRATION PORTAL 10 PM, SEPT. 21

As the portal for registration of prospective beneficiaries of #SurvivalFundNG opens today, interested Nigerians in the Payroll Support scheme are to note that the site will be open from 10pm Monday September 21, 2020.

— Government of Nigeria (@NigeriaGov) September 21, 2020

The statement says that the registration for the payroll support will start with the educational institutions at 10 pm Monday, September 21, 2020, and will be followed by businesses in the hospitality industry by 12am Friday, September 25, 2020.

REGISTRATION SCHEDULE:

Registration for #PayrollSupport will start with educational institutions at 10pm on Monday Sept 21, 2020, and will be followed by businesses in the hospitality industry on Friday September 25 beginning from 12am.

— Government of Nigeria (@NigeriaGov) September 21, 2020

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The portal will also open for other categories of small businesses from 12am, Monday, September 28, 2020. It should be noted that the scheduling of the registration for prospective beneficiaries is to ensure that the process is seamless and hitch-free. The registration of every sector is to continue until Thursday, October 15, 2020.

The portal will also be open to other category of small businesses from 12am, on Mon Sept 28, 2020

Note that the scheduling of registration for prospective beneficiaries is to ensure that the process is seamless & hitch free

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The Portal: https://t.co/JXIuHZG9oN@SurvivalFund_ng

— Government of Nigeria (@NigeriaGov) September 21, 2020

To register for this initiative, the Federal Government has also provided a portal for entry. Potential beneficiaries are advised to log on to https://survivalfund.ng to complete their registration.

As part of the registration process, the beneficiaries are expected to provide personal registration details, activate their account, register their organization after they have successfully activated their account.

Corporate Affairs Commission (CAC) Number, Bank Verification Number (BVN), SMEDAN Number, a Tax ID (optional) and the organization’s bank account details will be needed.

To complete the Payroll Support Registration, beneficiaries’ first name, last name, email, mobile number and Password will be required. Also, Date of Birth, residential address and residential Local Government Area will also be provided.