How To Qualify For FG Survival Fund For Small Businesses

FG Has Revealed How To Qualify For Survival Fund For Small Businesses.

 

 

News Rain Nigeria recalls that the Nigerian federal government recently announced two important social intervention programmes which include;

1. Guaranteed Off-take Stimulus Scheme (GoS)

2. The General MSME Grant

According to reports, the GOS scheme is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises (MSMEs). In other words, the target beneficiaries are the MSMEs that are ready to launch their products.

How To Qualify For FG Survival Fund For Small Businesses

 

A total of 100,000 MSMEs are to benefit from the scheme.

To qualify for GoS, below are the qualification criteria you must meet:

1. Applicant must be a Nigerian National.

2. Applicant must be registered under the Corporate Affairs Commission with at least a Business Name certificate

3. Applicant must have a verifiable BVN and Bank Account

4. Applicant must have at least 2 staff

5. Applicant must be ready to produce under NAFDAC and SON specifications.

The total target national number of beneficiaries is 100,000.

The breakdown is as follows:

1. Lagos – 3,880

2. Kano – 3,280

3. Abia – 3,080

4. Other states – 2,640 beneficiaries

Target products under the GoS scheme

There are two categories of products to be captured under this scheme: Sanitization/cleaning and processed foods.

Category A Sanitization and Cleaning

Lot 1 (Product)

1. Face Masks

2. Liquid Soap

3. Disinfectant

4. Hand Sanitizer

Category B Processed foods

Lot 2 (Grains)

1. Beans

2 . Garri

3. Acha

4. Alkama

5. Brabusco

6. Rice (Parboiled)

7. Rice (Raw)

Lot 3 (Flour)

1. Yam Flour

2. Plantain Flour

3. Soya Bean Flour

4. Garin Danwake

5. Cassava Flour

Lot 4 (Oil)

1. Palm oil

2. Groundnut Oil

3. Coconut Oil

4. Honey

5. Soyabean

Oil Lot 5. (Spices)

1. Dry Locust beans

2. Curry Powder

3. Tumeric Powder

4. Ginger Powder

5. Garlic Powder

GoS take-off date

The GoS portal, where applicants will register, will open on Tuesday, February.

The portal is www.survivalfund.gov.ng.

General MSME Grant

As earlier stated, the second social intervention scheme for the MSMEs is General MSME Grant. This is a one-off grant of N50,000 that will be given to each qualified MSME as a direct cash injection into their business. The total number of beneficiaries in this scheme is 100,000 spread across the states.

A state-by-state breakdown of target beneficiaries

1. Lagos – 3,880

2. Kano – 3,280

3. Abia – 3,080

4. Other states (each) – 2,640

How to qualify for General MSME Grant

1. Applicant must be a Nigerian national

2. Applicant must be registered under the Corporate Affairs Commission with at least a Business Name certificate

3. Applicant must have a verifiable BVN and Bank Account.

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