FG Set To Empower Small Businesses With 50,000 Each

Coastal News

Special Assistant to President Muhammadu Buhari on Micro Small and Medium and Medium Enterprises(MSMEs), has said 100,000 small businesses will get N50,000 each.

NAN reports that the gesture is part of COVID-19 economic stimulus.

The presidential aide made the announcement at the inauguration of the Implementation of Survival Fund and Guaranteed Off-Take Stimulus Schemes for MSMEs on Thursday in Abuja.

Johnson, the Project Coordinator, said that the schemes were part of the Economic Sustainability Plan drafted by Vice President Yemi Osinbajo-led committee and approved by President Muhammadu Buhari.

“The Payroll Support targets 100,000 businesses. However, the number of individuals who will benefit from this is 500,000. What the government has done is to say that there a lot of MSMEs that have been affected by the COVID-19 pandemic lockdown.

“Afterward, there is a CAC (Corporate Affairs Commission) free registration; it is free for the MSMEs but the government is paying the CAC for this. What the government has done is to say to the CAC, you do this regularly to the MSMEs at about N12,000 or thereabout; give it to us at half price, we will give it to the MSMEs free”.

Johnson added that under the National MSMEs Clinic, Osinbajo and the Minister of Industry, Trade and Investment went to no fewer than 26 states.

He said it was discovered that very creative businesses were not registered.

“They will tell you they don’t have N10,000 to N12,000 to register their businesses. The government had promised that at some point, we will do and I think the opportunity has come now; the opportunity cannot be better than now.’

The official also announced that under the Survival Fund, the last strap would be the Transport and Artisans Support.

At least 333,000 beneficiaries will get a one-off N30,000 grant, Johnson said.

He added that the government will work with associations, individuals and the Ministry of Transportation to implement the scheme.

Source: Mouthpiecengr.com

About Coastal Times

COASTAL TIMES ( THE CREEK WAY ) Coastal Times is an Online News platform that brings you all Breaking News, Analysis, Exclusive Interviews and Stories, from the Coastal Region of Niger Delta. With Coastal Times, you do not need to worry on how to search or source for the latest News. As we will be bringing direct to you, every News as it breaks. Our reportage is most professional, simple and well detailed, to enhance easy comprehension. We report News ranging from LOCAL, NATIONAL AND INTERNATIONAL. In order to keep you informed at all times. At Coastal Times, we are also into Events promotion, Business promotion, Brands promotion and other related services, at an affordable rate. So do well to contact Coastal Times, for your Breaking News, Analysis, Exclusive Interviews, Events, Business and Brands promotion. It is our topmost priority at Coastal Times, to keep you informed. As well as satisfying your demands. To get all our Breaking News, Analysis, Exclusive Interviews and Stories at your fingertip, follow us on our social media handles. FACEBOOK https://www.facebook.com/Coastal-Times-News-109483043893758 TWITTER https://twitter.com/TimesCoastal?s=08 & INSTAGRAM https://www.instagram.com/coastaltimesnews?r=nametag For Promotion of your Event, Business and Brand, contact us at, 08145845113 08103147502 08139808901 07047331011 You can as well send us an email via: coastaltimesnews1989@gmail.com To check out our website, Visit WWW.COASTALTIMESNG.COM. Thanks and God bless you. Signed: Comrade Freeborn Abraye CEO COASTAL TIMES, For The Management. © Coastal Times.

View all posts by Coastal Times →

Leave a Reply