Nigerian Government Disburses N56.84 Billion Survival Fund to 835,161 Beneficiaries


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The Minister of Industry, Trade and Investment, Chief Niyi Adebayo, has disclosed that a total of N56.84 billion had been disbursed to operators of micro, small and medium scale enterprises (MSMEs) in Nigeria, out of the N75 billion Survival Fund earmarked by President Muhammadu Buhari’s government.

The minister said this yesterday, during the opening of the technical session of the 13th meeting of the National Council on Industry, Investment and Trade held at Ado-Ekiti, Ekiti State.

The minister who was represented by the Permanent Secretary in the Ministry, Dr. Evelyn Ngige, said the scheme was targeted at strengthening ordinary Nigerians and reduce the poverty index to the nearest minimal.

Adebayo said: “On the N75 billion MSME Survival Fund, the programme has disbursed N8.80 billion to 293,336 beneficiaries under the Artisan Support & Transport Scheme; N43.92 billion to 459,334 beneficiaries under the Payroll Support Scheme, and N4.12 billion to 82.491 beneficiaries under the MSME Grant Scheme.

“In total, the sum of N56.84 billion has been disbursed to 835,161 beneficiaries under the MSME Survival Fund scheme.”

Adebayo revealed that the ministry has begun full activation of the six private sector-led Special Economic Zones (SEZs) at Lekki, Eyimba, Funtua, lbom, Kano, and Benue, saying the government was working through the Nigeria Export Processing Zones Authority, to ensure the Authority delivers the establishment of three SEZs in 2022,

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