N37bn Survival Fund released to Nigerians – Presidency

Ø  SMEs got N106bn

The presidency has confirmed the release of N37billion for Nigerians in its programme, the “Survival Fund”.

In a statement, presidential spokesman, Laolu Akande, said ministers and heads of agencies reported further progress in the implementation of the Economic Sustainability Plan of the Buhari administration.

Vice-President Yemi Osinbajo presided over a meeting of the ESP on Monday at the Presidential Villa.

The N37billion Survival Fund released covers N50,000 Payroll Support for three months to over 300,000 beneficiaries, one-time grants of N30,000 to 100,000 artisans, and 100,000 business name registrations paid for by the federal government.

The Central Bank of Nigeria, (CBN), Governor, Godwin Emefiele reported the disbursement of over N192billion for household/MSMEs grants to 426,000 beneficiaries across the country, with plans to do over N100billion more in that category, named: “Targeted Credit Facility”.

He disclosed that under the collateral-free Agric-Business/Small & Medium Enterprise Investment Scheme, there are ongoing grants of concessionary loans from between N150,000 to N2.5million. Over N106 billion has been disbursed so far to over 27,000 beneficiaries, the presidency noted.

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