MSME Survival Fund: 100,000 MSMEs up for N50,000 Grant, more reasons to be happy as a CEO

As a Chief Executive Officer and a registered Business owner who applied for the MSME Survival Fund General Grant, there is every reason to be happy as many testify to have benefited from the N50,000 General Grant payment which is on going.

The Nigerian Government, Thursday, noted that "under the @SurvivalFund_ng’s General MSME Grants track — a one-off grant of N50,000 to each qualified MSME as direct cash injection — 46,117 successful beneficiaries in the Federal Capital Territory (FCT) and 36 States have now started receiving their payments."

The statement further clarified that the 46,117 successful beneficiaries currently recieving alerts constitute 50% of the total beneficiaries of the General Grant Track.

Payment has continued under the track and the one-time N50,000 Grant is solely for CEOs, while the N30,000 - N50,000 Payroll Support is particularly for 500,000 Employees of MSMEs which will be paid for 3 months.

However, CEOs who registered themselves as part of the Employees of MSMEs during the Payroll Support registration, are very likely to get paid under the Track.

All verified applicants of the MSME Survival Fund are encouraged to remain patient as payment is on going. There is simply no need to panic.

The Project Delivery Office of the Scheme has clarified that payments are not made State by State, however, States that have exhausted their quotas will not have more beneficiaries. These States were released by the PDO before the most recent Payroll Support Application was made.

Note that exhausted quotas currently applies to the Payroll Support Track where some States have had maximum number of expected beneficiaries. The General Grant is one-time and for all States of the Federation as this is the first time payment is being made under the Track.