Survival fund: Kano, Abia, Lagos Get More Beneficiaries From N75bn

The federal government has said states like Lagos, Kano and Abia will get a larger sunk of its 75b naira survival fund due to their high number of MSMEs register, VAM News has gathered.

The Survival Fund of the federal government is a part of the Economic Sustainability Plan’s (ESP) drawn by the Buhari-led government, which is to be coordinated by Vice President, Yemi Osinbajo, SAN, as part of federal government’s efforts to cushion the bad effects of the Coronavirus (COVID-19) Pandemic outbreak.

The disclosures were contained in an updated report of the Federal Government on implementation of the Survival Fund scheme, as the ESP scheme continues to gain attention with the emergence of beneficiaries on the first set of states across the country.

The Senior Special Assistant in the office of the Vice President on Media and Publicity, Mr. Laolu Akande, confirmed in a report that Lagos, Kano and Abia had more MSMES activities than the rest of the states in Nigeria, which explains why they got slightly higher numbers of beneficiaries.

The report disclosed the Steering Committee, led by the Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum is 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.

The report reads; “A detailed distribution procedure for the five tracks under the Survival Fund is as follows: Payroll Support – Lagos gets 25, 000 beneficiaries; Kano, 17,000; Abia, 16, 000; other states 13, 000 etc; General MSME Grants – Lagos, 3, 880; Kano, 3,280; Abia, 3,080; other states, 2,640 each.

“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.

“Guaranteed Off take Stimulus Scheme (MSMEs) – Lagos, 3,880; Kano, 3,280; Abia, 3080 and other states 12,640 each.”

The report indicates that Abia, Lagos, and Kano States were separated in the distribution of slots for beneficiaries because of their special status in the MSMEs space, having a larger number of small businesses in the country.

“The report allays any fears of marginalisation of States in the distribution of slots for the five tracks of the Survival Fund,” the report said.

On the ongoing disbursement of grants under the Artisans Track, in the first set of states, the report indicates 66% of the total number of registered potential beneficiaries are male artisans while 34% are female artisans.

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