N75b Survival Fund: Registration For Payroll Support Scheme Resumes

Mariam Katagum straightnews
Mariam Katagum

So far, 296,032 persons have benefitted from the Federal Government’s N75 billion under Payroll Support Scheme.

The payroll support scheme is designed to assist vulnerable micro, small and medium enterprises (MSMEs) by paying the salaries of their staff for a period of three months.

Under the scheme, 242,746 youths or 82 per cent benefitted while 53,246 other persons or 18 per cent got it.

Meanwhile, the federal government has extended registration for the payroll support scheme to enable some states to meet their quota.

A statement signed by the project delivery office, and the steering committee of the MSME survival fund and guaranteed off-take scheme was chaired by Mariam Katagum, Minister of State for Industry, Trade and Investment.

The payroll support portal (https://survivalfund.gov.ng/) opens from January 27 to February 2 for different categories of businesses – educational, hospitality and other sectors.

According to the committee, Benue, Plateau, Bauchi, Kano, Kaduna, Rivers and the Federal Capital Territory (FCT) met their quota.

The requirements needed for the application include: Business must have Corporate Affairs Commission (CAC) registration; must have a bank verification number (BVN);  must have staff strength of at least 10 persons and maximum of 50; must be owned by a Nigerian.

It noted that the scheme provides for 45 per cent female participation and five per cent special needs participation.