FG Begin Paying 500,000 Beneficiaries Of The ESP Survival Fund This Week

The Federal Government To Begin Paying 500,000 Beneficiaries Of The ESP Survival Fund This Week

The federal government will start paying N50,000 to each of these individuals.

other beneficiaries of its Economic Sustainability Plan (ESP) Survival Fund, which will benefit approximately 500,000 Nigerians.

This complements the support provided to small businesses by the administration of President Muhammadu Buhari during the COVID-19 pandemic through the ESP Survival Fund Salary Support Program and a one-off general grant from MSME.

According to vice president of media assistant Laolu Akande, 319,755 Nigerians used the Payroll Support route and 265,425 the Artisan and Transportation Support route.

Of the 265,425 beneficiaries, 118,581 are on the Artisan road and 146,844 on the Transport road.

He stated that the wage support program aims to help 500,000 beneficiaries pay up to 50,000 N50 per employee over three months.

He explained that the MSME Survival Fund is part of Nigeria’s Economic Sustainability Plan (NESP) and is designed to help vulnerable micro, small and medium-sized enterprises (MSMEs) meet their wage obligations and preserve jobs in the MSME sector.

In addition, Akande said in a press release:

“The general MSME scholarship is a one-time payment of N50,000 for each qualified MSME. This trail benefits more than 100,000 people across the United States.

Similarly, the Craftsman Support Scheme will provide a one-off grant of N30 000 to 333 000 to craftsmen and transport business operators across the country to mitigate the effects of the loss of revenue due to the COVID-19 pandemic.

“Applications for the guaranteed removal incentive scheme are currently being processed and the start date of this route will be announced later.

The guaranteed release incentive scheme aims to protect and maintain the income of vulnerable micro and small enterprises by guaranteeing the sale of their products. In total, 100,000 micro and small enterprises will benefit from this program.

President Muhammad Bukhari in 2020 June 24 Approved the Economic Sustainability Plan (ESP). The ESP is an N2.3 trillion stimulus package designed to mitigate the socio-economic impact of the COVID-19 pandemic. The plan was prepared by the Economic Sustainability Committee, chaired by Vice President Yemi Osinbayo.

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Thank you – Npower