N75bn ESP: Lagos, Kano, Abia on priority list – Presidency 

N75bn ESP: Lagos, Kano, Abia on priority list – Presidency 

Big trouble, as more Nigerians sink deeper into poverty
A map of Nigeria

By Johnbosco Agbakwuru

ABUJA–THE Presidency has said that Lagos, Kano and Abia states will be treated differently from other states of the federation in the distribution of palliatives under the N75 billion Economic Sustainability Plan (ESP) MSMEs Survival Fund because they will have more beneficiaries.
The Presidency also said that other states and the Federal Capital Territory, FCT, would have lesser but equal number of beneficiaries of the fund.
It explained that it was adopting the approach based on the number of MSMSEs in the various states.

READ ALSO:Organise National Convention now or quit, Senator Marafa tells Buni

It affirmed that the three states were separated from the others in the distribution of slots for beneficiaries because of their special status in the MSMEs space, having a larger concentration of small businesses in the country.
This was contained in an updated Federal Government report on the implementation of the Survival Fund scheme which was confirmed by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr. Laolu Akande.
Akande said that Lagos, Kano and Abia would get more share because of the larger presence of MSMES activities in the states than the rest.
According to the report, the Steering Committee led by the Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, was working to ensure smooth implementation of the programme across the states and FCT as focal persons are enlisted by the Project Delivery Office (PDO) to drive the operationalization of the schemes in communities within the states.
A detailed distribution procedure for the five tracks under the Survival Fund shows that for Payroll Support,  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 CAC 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.
The government report allayed fears of marginalization of states in the distribution of slots for the five tracks of the Survival Fund.
On the ongoing disbursement of grants under the Artisans Track, in the first set of states, the report shows that 66% of the total number of registered potential beneficiaries are male artisans while 34% are female artisans.
It said, “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 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.”

The post N75bn ESP: Lagos, Kano, Abia on priority list – Presidency  appeared first on Vanguard News.

RELATED:  Okonjo-Iweala set to be first woman named WTO bosss
Receive Updates

No spam guarantee.

I agree to have my personal information transfered to GetResponse ( more information )