The Minister of State for Industry, Trade and Investment, Mariam Katagum has said a total of 174,574 applicants have successfully registered for the N75 Billion National MSME Survival Fund aimed at rejigging businesses that have been affected by the negative impact of COVID-19 within 48 hours.
Mrs Katagum explained that the scheme targets 500,000 individual beneficiaries, 45 per cent of which will be given to female-owned MSMEs and five percent to special needs-owned MSMEs.
The Minister, who disclosed this on Thursday during a press briefing on the National MSMEs Survival Fund and Guaranteed off-take Stimulus Scheme in Abuja, stressed that the first will sustain 300,000 jobs in 10,000 MSMEs by guaranteeing off-take of priority products while the second will sustain at least 500,000 jobs in 50,000 SMEs.
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It would be recalled that the federal government had earlier announced that the scheme, designed to save jobs and sustain local production amidst COVID-19, will come in two tracks.