Invoice Bazaar Blog

Nigeria disburses N66bn to 1.26mn beneficiaries under MSMEs Survival Fund

By Invoice Bazaar | August 4, 2022

Nigeria’s federal government has disbursed over N66 billion to 1.258 million beneficiaries under the MSMEs Survival Fund and Guarantee Off-Take Scheme. The scheme was launched for the benefit of MSMEs and self-employed individuals who were remuneratively employed earlier, and to stimulate the nation’s economy following the Covid-19 lockdown. The Nigerian government implemented the survival fund across five tracks: Payroll Support Scheme, Artisan and Transport Scheme, Formalisation Support Scheme, General MSME Grants Scheme, and Guaranteed Off-take Scheme. This strategy has yielded positive results as it makes sure that SMEs at risk can fulfill payroll responsibilities and that their employees are not laid off from jobs.

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