The federal government has rolled out schemes to support Micro, Small and Medium Enterprises (MSMEs) in the country.
In a tweet on Monday, the federal government said the schemes – Guaranteed Offtake Scheme and MSMEs Survival Fund – would save jobs and sustain local production.
It said details on how the MSMEs could be accessed would soon be unveiled by the implementation committee.
“The Federal Govt is rolling out, under the NESP, support schemes for MSMEs nationwide, including a Guaranteed Offtake Scheme (guaranteeing off-take of priority products); and an MSMEs Survival Fund that will make payroll support available to save jobs and sustain local production,” it tweeted.
“Details on how to access these MSME Support initiatives will be unveiled soon, by the Implementation Committee.”
It said the chair of the Committee is the Minister of State, Trade and investment, Mariam Katagum, while the Vice Chair is the chairman of First Bank, Ibukun Awosika.
The scheme comes in two tracks.
The objective of the first track is to sustain 300,000 jobs in 10, 000 MSMEs by guaranteeing off-take of priority products such as processed food, personal protective equipment, hand sanitizers, face masks, face shield, shoe covers and pharmaceuticals.