MSME Survival Fund: 500,000 Nigerians To Benefit As Payment Continues

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Following the successful verification of applicants, the Federal Government has said that it has paid 101,567 verified employees drawn from 16,250 businesses under its payroll support scheme (MSME Survival Fund) for small businesses, Brainnews can confirmed.

MSME Survival Fund

The Federal Government will support small businesses to meet their payroll obligations of between N30,000 and N50,000 to cushion the economic effect of the Covid-19 pandemic.

A maximum of 10 employees will be paid over a 3-month period.

MSME Survival Fund

On the verified Twitter account of President Muhammadu Buhari, it reads:

“I am pleased to announce that 101,567 beneficiaries drawn from 16,253 businesses today received their first monthly payment from our Payroll Support Program. The program is a @SurvivalFund_ng
Covid-relief initiative to support qualifying MSMEs with staff salaries for 3 months.”

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