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Federal Government Set To Lunch Survival Fund For Small Businesses

The federal government is set to launch a Survival Fund, targeting small and medium-scale businesses across several sectors.

Tolu Ogunlesi, the Special Assistant to President Muhammadu Buhari on Digital and New Media said the fund will include a Payroll Support scheme that will pay up to N50,000 monthly per qualifying and selected beneficiary.

He added that the Fund was part of the issues discussed during the first Year Ministerial Performance Review Retreat held at the State House on Monday, September 7.

According to Ogunlesi, Ministers, Heads of Ministries, Agencies and Departments, MDAs, senior government officials were in attendance while the Vice President, Professor Yemi Osinbajo presided over the meeting.

He, however, added that 34 projects have been funded with 37 billion naira disbursed while N191 billion have been disbursed out of the 1 trillion Naira Fund for manufacturing.

The presidential aide, stated that the disbursement is part of the Nigerian government’s Economy Stimulus which was launched, early 2020.

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