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MSME Funds: How To Access FG’s Business Survival Loans




The Federal Government of Nigeria has released criteria for accessing the general Micro, Small and Medium Enterprise (MSME) grant.

On Thursday, February 4, the government announced that registration for the guaranteed offtake stimulus scheme would commence on Tuesday, February 9.

Through the guaranteed off-take stimulus scheme and general MSME grant, 100,000 MSMEs would benefit from GoS 100,000 and Nigerians would benefit from a one-off N50,000 MSME grant.

The Minister of Trade and Investment, Mariam Katagum, who is also the steering committee of the MSMEs survival fund and guaranteed off-take stimulus scheme said the programme is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products.

According to the Minister of State for Industry, Trade and Investment, Mariam Katagum, the portal would be opened on February 9.

Further, she said that a total of 100,000 Micro and Small Enterprises would benefit from the scheme, adding that a total target national number of beneficiaries is 100,000.

Breakdown of beneficiaries is as follows:

1. Lagos – 3,880

2. Kano – 3,280;

3. Abia – 3,080

4. Other states – 2,640

To qualify for the MSMEs applicants must do the following:

1. Applicant must be a Nigerian National.

2. Applicant must be registered under the Corporate Affairs Commission (CAC) with at least a business name certificate

3. Applicant must have a verifiable BVN and Bank Account

4. Applicant must have at least 2 staff

5. Applicant must be ready to produce under NAFDAC and SON specifications.

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