Politics

Survival Funds: 1.3 Million Jobs Sustained – FG

In a bid to eradicate poverty in the country, Yemi Osinbajo has disclosed that over one million Nigerians have so far benefitted from the Survival Fund scheme under the regime’s Economic Sustainability Plan.

This was reportedly disclosed by the SSA to the Vice President on Media and Publicity, Laolu Akande, in a statement titled, ‘N200bn facility for social housing ready as ESP Payroll Support, Artisan, Transport Tracks and Free Business Names Beneficiaries Now Over One Million.’

According to earlier reports, the ESP was approved by  President Muhammadu Buhari on the 24th of  June 2020, and N2.3 trillion was released to tackle the socio-economic effects of the Covid-19 pandemic on Nigerians.

According to the statement,  “Over one million Nigerians have so far benefitted from the Survival Fund scheme under the Buhari administration’s Economic Sustainability Plan, with about 500,000 Nigerians beneficiaries from the MSMEs Payroll support track, 44,500 beneficiaries under the one-off General MSME Grant, and another 265,425 under the artisan support track.”

The statement read further that, “It would be recalled that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. So far, under the ESP there are now over one million beneficiaries nationwide from the various schemes.”

In respect to the  Payroll Support track, Akande stated that  there are so far 459,307 successful beneficiaries. Under the scheme, beneficiaries receive payment of the N30,000 or N50,000 grant per month for three months. He also said that about 44,500 successful beneficiaries have so far received payment for the one-off grant of N50,000 each.

The statement further reads that, “202,494 businesses have so far benefitted under the ESP Survival Fund formalization support track, which is aimed at registering 250,000 new businesses for free with the Corporate Affairs Commission.”

It stressed that, “The formalisation support scheme had commenced on the 26th of October, 2020, with the registration by aggregators (CAC registration agents) across the 36 states and the FCT.”

“The MSME Survival Fund, a component under the ESP is designed to support vulnerable Micro Small and Medium Enterprises in meeting their payroll obligations and safeguard jobs in the MSMEs sector,” the statement added.

Akande also disclosed that the scheme has saved at least 1.3 million jobs across the country and had a specific impact on over 35,000 individuals per state.

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Esther Ifeoluwa

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