The last phase of the survival fund grant application for micro, small and medium scale enterprises (MSMEs) begins on Tuesday February 9, 2021. The Nigeria Government calls it the guaranteed off-take stimulus scheme and general MSME grant. Furthermore, the survival fund portal is set to reopen for the last phase of registration by MSMEs in Nigeria. But,, the exercise will last for just about two weeks. In this publication, we shall outline all you need to know about the MSME Survival Fund and how to apply. These includes;
- Number of Micro, small and medium enterprise (MSME) businesses to benefit.
- the Number of beneficiaries or Quota for each state of Nigeria
- Qualification criteria for successful application
- Categories of businesses and products to get top considerations
- Amount Government shall pay o each beneficiary
- How and where to Apply for the Survival Fund Off-take stimulus grant
We shall now roll out all the facts about the ongoing Federal Government of Nigeria’s MSME off-take stimulus package and grant.
How Many MSME Businesses to benefit from the Fund
The Survival fund has targeted over 100,000 businesses within the micro, small and medium scale enterprises level. As a result, over 100,000 Nigerians are to benefit from the one-off 50,000 Naira MSME grant.
The Steering Committee of the MSMEs Survival Fund and guaranteed Off-take Stimulus Scheme made the announcement recently. According to reports, the announcement came to inform Nigerians on the reopening of the portal. The Hon. Minister of State, Federal Ministry of Industry, Trade and Investment, Amb. Mariam Y. Katagum chairs the committee. She announced the commencement of the Guaranteed Off-take Stimulus Scheme and the MSME Grant portal opening from February, 9th, 2021.
Furthermore, she added that the Off-take Stimulus Scheme aims at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the off-take of their products. This is another measure to ensure the survival of all small businesses to keep the micro economy of Nigeria afloat.
Quota Allocated to Each States for the MSME Survival Fund
With 100,000 small businesses to benefit, here is the breakdown of the quota allocated to each of the 36 states of the Nigerian Federation.
- Lagos, 3,880
- Kano, 3,280
- Abia, 3,080
- other states will each have 2,640 beneficiaries
Consequently, only businesses with addresses in these states shall benefit from the federal Government grant scheme. But how would anyone classify a business as having come from Lagos? The question is simple. If your business address is in Lagos, your business will benefit under the Lagos quota. However, you may also benefit from Imo State if your CAC certificate business address reflects Imo State. Therefore, I advice that you fill your application form with care to reflect the correct state of domicile.
Business Qualification Criteria for MSME Survival Fund Application
For your business to qualify for the MSME off-take stimulus scheme, here are lists of qualification criteria you must meet up to.
- Applicant must be a Nigerian National.
- The Applicant must register under the Corporate Affairs Commission with at least a Business Name certificate
- Business owner or Applicant must have a verifiable BVN and Bank Account
- Applicant must have at least 2 staff
- The business must be ready to produce under NAFDAC and SON specifications.
Categories of Businesses and Products most considered for the Survival Fund
All MSMEs originally qualify to apply for the one-off grant scheme. However, there are categories of products and businesses which attract higher considerations during the assessment of applicants for the grant scheme. They are;
CATEGORY A: Sanitation and cleaning Businesses / Products
- Face Masks
- Liquid Soap
- Disinfectant
- Hand Sanitizer
CATEGORY B: Processed Foods
Grains
- Beans
- Garri
- Acha
- Alkama
- Brabusco
- Rice (Parboiled)
- Rice (Raw)
Flour
- Yam Flour
- Plantain Flour
- Soya Bean Flour
- Garin Danwake
- Cassava Flour
Oil
- Palm oil
- Groundnut Oil
- Coconut Oil
- Honey
- Soyabean Oil
Spices
- Dry Locust beans
- Curry Powder
- Tumeric Powder
- Ginger Powder
- Garlic Powder
Amount Government shall Pay to Beneficiaries
The General MSME Grant is a one-off grant of N50,000, which each qualified MSME shall benefit from as direct cash injection into their enterprise. Nevertheless, the total number of beneficiaries in this track is 100,000 spread across the States.
How to Apply for the MSME Survival Fund Scheme
You can apply for the Federal Government Survival fund scheme by clicking on the blue button below. Recall that the portal comes alive from 12:01 a.m. on February 9, 2021.
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Guild to Register for the MSME Survival Fund Grant Scheme
When you click the “Apply now” button above, it takes you to the Official portal for the MSME Survival Fund of the Federal Government. There are two basic procedures to register for the Grant scheme. One is the REGISTER tab and the other is the START HERE tab. Below are the registration procedures, which ultimately bring you to the same expected end.
Using the REGISTER tab Option
Step 1: REGISTER
Once you click on the blue “APPLY NOW” button above, it takes you to the official portal. At the top of the site, you will see “Register”. Click on it to register your bio or personal information on the survival fund application portal. Upon submitting, the portal shall send you a code via email or phone number. Therefore, you will immediately return to the platform to activate your activate with the code sent to you. After a successful activation, you may now log in normally to proceed to the next stage. This next stage is known as the “ONBOARD” stage.
Step 2: ONBOARD
After registering on the platform, the next is to complete the onboarding process. To ONBOARD is to add up your business or organization’s details, Bank and Employees information. Furthermore, ensure that all bank account details for you and you staff each has a verifiable BVN as directed by the Government. However, do not disclose your BVN to any third-party. This is why it is the best practice to fill this application form by yourself or the official from your organization.
Step 2: GET PAID
Once your application has been successfully verified, you are then eligible to get paid under the scheme applied for. However, the verification process may take some time depending on the Survival Fund procedure. But one measure remains to contact all your employees via phone call in order to ask them certain questions concerning your organization. This is a part of the integrity test that helps to ensure the credibility of every organization that registered for the MSME Survival Fund program.
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Using the START HERE Option
- click on the “Start Here” tab at the top-right of the portal.
- 3 program opportunities pop up the screen
- Remember the ongoing program is the “Guaranteed Off-take Scheme”
- On this section, click the “Guaranteed Off-take Scheme Register” at the bottom of the section tab as seen in the picture above.
- Fill the form, receive the code, activate your account, onboard and other registration procedures as explained in the first option above. Afterwards, relax and wait for verification and subsequent payment.
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Congratulations as I wish you the best of good luck.
