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Tag: MSMEs

We will continue to support MSMEs, says FG

We will continue to support MSMEs, says FG

Economy
The Federal Government has said it will continue to support macro, small and medium enterprises (MSMEs) and entrepreneurs to fully recover from economic recession.   The government said small-scale enterprises were the lifeblood of the economy and engine of growth.    The Head of Strategy and Growth for Government Enterprise and Empowerment Programme (GEEP), Bank of Industry (BoI), Mr. Taiwo Ajetunmobi, disclosed this while showcasing beneficiaries of the MSME Survival Fund Payroll Support scheme, which was held at Bodija, Ibadan, the Oyo State capital. The Survival Payroll Support is the Federal Government intervention programme to support MSME and entrepreneurs and their employees through the economic recovery from the COVID-19 crisis. Ajetunmobi said the plan and objective of the schem...
FG disburses N10b Survival Funds to 101,567 beneficiaries nationwide

FG disburses N10b Survival Funds to 101,567 beneficiaries nationwide

Economy
Says initial challenges are being surmounted The Federal Government said it has so far disbursed about N10billion from the Micro, Small and Medium Enterprise (MSMEs) Survival Funds, to 101,567 beneficiaries till date, as part of commitment to lift Nigerians out of poverty. The N75 billion Survival Funds, which comprises the N60 billion MSMEs as well as the N15 billion Guaranteed Off-take Schemes, became operational in September, is the core of the N2.3trillion stimulus package of the Nigerian Economic Sustainability Plan. The Minister of State for Investment Trade and Industry Ambassador Mariam Katagun, disclosed this while briefing the media on the update of the Scheme. Katagun, who is also the Chairperson Steering Committee to the MSMEs Survival Funds and Guaranteed Off-t...
ICSAN harps on innovation as panacea for MSMEs survival

ICSAN harps on innovation as panacea for MSMEs survival

Appointments
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), has described innovation as pathway to survival of Micro, Small and Medium-scale Enterprises (MSMEs) amid the COVID-19 pandemic. They argued that with the volatility associated with the pandemic, MSMEs could not be ignored in the business ecosystem. The Institute said they must be committed to ethical principles as a source of competitive advantage to them. Speaking during a webinar programme on, “Survival of MSMEs During Uncertain Times: Is Corporate Governance a Luxury or Necessity?” at the 2020 Public Lecture, organised by ICSAN, Prof. Chris Ogbechie of the Lagos Business School (LBS), stressed the need to enhance MSMEs strength to jump-start the economy. He noted that MSMEs may be hardest hit by rece...