Survival Fund: Government distributes over N56.8bn to more than 1 million Nigerians
The Federal Government has distributed funds to more than 100,000 Nigerians under the Survival Fund
The government has created a program to support markets and factories that have been damaged by Corona
Maryam Katagum, Minister of State for Industry, Trade and Investment, described the success
Abuja – Maryam Katagum, Minister of State for Industry, Trade and Investment, says the federal government has distributed 56.8 billion naira to more than 1 million people – including those registered under the Companies Regulatory Commission (CAC).
The minister, who is also the chairperson of the Survival Fund, made the remarks at a press conference in Abuja on Tuesday, August 31, The Cable reported.
She also launched the program, which she said is the latest in a series of micro and small enterprises (MSMEs).
The program is part of the Nigerian Economic Sustainability Program (NESP) developed by a committee chaired by Vice President Yemi Osinbajo.
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Katagum explained that the program targeted 100,000 beneficiaries, but as at the time of closing the application, only 65,976 people had been recruited, of whom 50,032 had passed the qualifying test and been assessed.
She said: “To date, we have successfully distributed N56,842,780,000.00 to 1,079,323 people including those registered under the CAC.”
“The federal government is planning to roll out the final phase of the program known as the GOS emergency support system).”
The minister said the Korona outbreak had led to a decline in the demand for companies and domestic products and services, adding that the program was designed to help small businesses.
Katagum explained that the delay in starting the project was due to issues of non-payment, non-payment of dues and balance between the states.
On the issue of eligibility assessment, the minister said the beneficiaries must be Nigerians with BVN and a strong workforce of no less than three. The minister said the program has also made great strides in some areas.
Minister of Relief and Humanitarian Affairs Sadiya Farouq said more than six million people had expressed interest in benefiting from the program.
She said Group C will take 510,000 people to benefit from the first phase program and 490,000 people in the second phase.
Update: N-Power Candidates Go to ‘Biometric’ In another development, the Federal Government, through the Ministry of Humanitarian Affairs and Social Development, has released new information on N-Power Batch C (stream 1).