You are currently viewing Apply For FG 75Billion MSME Survival Fund For Payroll Support Scheme

Apply For FG 75Billion MSME Survival Fund For Payroll Support Scheme

Apply For FG 75Billion MSME Survival Fund For Payroll Support Scheme. This article will explain in detail what the Federal Government Payroll Support Scheme For MSME Survival Fund is all about! its objectives, categories, requirements,  and how to apply for the FG MSME Survival Fund. The registration portal is

The Federal Government of Nigeria has commenced the registration! for the Micro, Small, and Medium Enterprise (MSME) Survival Fund on 21st September 2020. This program is part of the Economic Sustainability Plan of the Federal Government! which aims to support and protect these businesses from the potential vulnerabilities brought about by the COVID-19 pandemic.

READ ALSO: Simple Steps On How To Register A Business Name in Nigeria 2021

Recall that the Federal Government led by President Muhammadu Buhari approved a total sum of 2.3 Trillion Naira for the Nigeria Economic Sustainability Plan (NESP). The sum of 75 Billion Naira has been set aside for the MSME Payroll Support Scheme and Guaranteed Offtake.

Objectives of The FG MSME Survival Fund

The objective of the Federal Government for the MSME Survival fund is to save not less than a 1.3million jobs across the Nation. Also, to assist more than 35000 entrepreneurs in each state with grants to support their businesses. To also reduce the effect of the COVID-19 on the economy.

The duration of this program is set to last for three months! in other to provide immediate relief to the people.

Categories of The FG MSME Survival Fund

The categories of the Federal Government targetted (Beneficiaries)  MSME Survival Funds are as follows;

  1. MSME Payroll Support: The MSME Payroll Support Scheme is a survival fund that will make payroll support available to save jobs and sustain local production. However, the MSME Payroll Support registration is currently ongoing, kindly follow the steps here, on how to register.

  2. MSME Grant: The Credit Support to MSMEs and Priority Sector will provide affordable finance to key sectors impacted by the pandemic and enable an increase in manufacturing capacity in priority sectors.

  3. Guaranteed Offtake: The MSME Guaranteed Offtake Scheme is one of the Federal Government’s economic support measures to assist micro and small businesses affected by the pandemic.

SEE ALSO: MSME Grant Registration – How To Apply For FG N27b General MSME Grant

How To Register For The FG MSME Survival Fund

To register for the Federal Government (FG) MSME Survival Fund for Payroll Support. Kindly follow the steps below,

  • Click on this link
  • Select and click on the Payroll Support Register.
  • Fill all the required details on the payroll support registration form
  • Tick on the terms and condition box.
  • Finally, click on Register.
  • Activate your account with the code that will be sent to the phone number and email address you registered with.
  • Once you activate your account, login with the phone number and email address.
  • Add your organization and account details.
  • A congratulations mail will be sent to you and the list of documents to upload from 1st October 2020.

READ MORE: Steps To Register For FG N15b MSME Guaranteed Offtake Stimulus Scheme

Requirements for MSME Payroll Support Fund

. The below documents will be required for the second stage from 1st October 2020. Kindly get them ready before the date.

  • CAC Registration No, (TIN Optional).
  • A prove of the last three salaries paid to your employees.
  • SMEDAN Registration Number.
  • Employee BVNs and Account Numbers.
  • Annual Revenue /Turnover for the past 12 months.

READ>>> How To Get CAC Number For Your Company Online In Nigeria

Please share this information with others, so they can benefits. Thank You.

Leave a Reply