The Micro Small and Medium Enterprises’ Survival Fund is a conditional grant set up by the President Muhammadu Buhari led administration to support vulnerable businesses in meeting their payroll obligations from the shock of the COVID-19 pandemic. The scheme which was flagged off by the Minister of State for Industry, Trade and Investment, Mariam Katagum is estimated to save about 1.3 million jobs across the country, by targeting an average of thirty five individuals per state. Addressing a news conference in Abuja, the Minister said in keeping to its promise to support businesses overcome challenges posed by the COVID-19 pandemic, sixty billion naira was earmarked as Survival Fund while fifteen million for Guaranteed Off-take Scheme. She said both schemes are at the core of the N2.3 trillion stimulus package also known as the Nigeria Economic Sustainability Plan, being implemented to help cushion the impact of the pandemic with a view to boosting the economy and creating new opportunities. The Special Assistant to the President on MSMEs, Tola Johnson and the Director General, Small and Medium Enterprises Development Agency of Nigeria, Dikko Radda also spoke on the importance of the Schemes in resuscitating the already battered economy. The two schemes are expected to be implemented over an initial period of 3 months in order to provide immediate relief from the economic impact of the pandemic.
