The Presidency on Sunday announced that Abia, Kano and Lagos state will be treated differently from other states in the distribution of palliatives under the N75billion economic sustainability plans MSMSs survival Funds.
Mr Laolu Akande disclosed disclosed this in Lagos on Sunday, he said these states will get more beneficiaries because of the numerous MSME’s activities in the states that other states.
According to a detailed payroll report of the scheme Lagos gets 25, 000 beneficiaries; Kano, 17,000; Abia, 16, 000; other states 13, 000 each; General MSME Grants, Lagos, 3, 880; Kano, 3,280; Abia, 3,080; other states, 2,640 each.
For free business registration Lagos, 9,084; Kano, 8, 406; Abia, 7, 906; other states 6,606 each; Artisan & Transport Grants – 36 States and FCT , 9,009; and Guaranteed Offtake Stimulus Scheme (MSMEs), Lagos, 3,880; Kano, 3,280; Abia, 3080 and other states 12,640 each.
IN addition, “The intention of the Federal Government, under the scheme, is to augment the payroll obligations of businesses in the Health, Production, Education, Hospitality and Food production sectors; provide N50, 000 grants to an additional eligible 100,000 MSMEs; register 250,000 new businesses with the Corporate Affairs Commission (CAC) at no cost to the MSMEs; and support self-employed individuals like mechanics, taxi drivers, hairdressers, Keke NAPEP riders, Okada riders, plumbers, electricians etc with a one-off payment of N30,000 to each of them.
“The plan is also geared towards stimulating direct local production in the 36 states of the Federation and the FCT by enabling MSMEs in the production sector with funds to stimulate ‘post-COVID lockdown’ off-take products.
“Worthy of note is the fact that the programme is to save over 1,700,000 jobs and special focus will be given to 45% female-owned MSMEs and 5% special needs owned MSMEs.
“The scheme comprises five tracks namely; Payroll Support, General MSMEs Grant, Formalization Support, Artisan & Transport Grant, and the Guaranteed Off-Take Scheme.”