Friday, November 27, 2020

Lagos, Kano and Abia on the priority list – Presidency

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The Presidency has said that the states of Lagos, Kano and Abia will be treated differently from other states of the federation in the distribution of palliatives under the MIPYMES Survival Fund of the N75 billion Economic Sustainability Plan (ESP) because they will have more beneficiaries.

The Presidency also said that other states and the Federal Capital Territory, FCT, would have a smaller but equal number of beneficiaries of the fund.

He explained that he was adopting the approach based on the number of MSMEs in the different states.

He affirmed that the three states separated themselves from the others in the distribution of quotas for beneficiaries due to their special condition in the space of MSMEs, having a higher concentration of small businesses in the country.

This was contained in an updated Federal Government report on the implementation of the Survival Fund scheme that was confirmed by the Senior Special Assistant to the President in Media and Advertising, Office of the Vice President, Mr. Laolu Akande.

Akande said that Lagos, Kano and Abia would get more participation due to the greater presence of MSMEs activities in the states than the rest.

According to the report, the Steering Committee headed by the Minister of State for Industry, Trade and Investments, Amb. Mariam Katagum, was working to ensure the smooth implementation of the program in all states and FCT, as the Project Execution Office (PDO) hires the focal persons to promote the implementation of the schemes in the communities within the state.

A detailed distribution procedure for the five tranches of the Survival Fund shows that for payroll support, Lagos obtains 25,000 beneficiaries; Kano, 17,000; Abia, 16,000; other states 13,000 each; General Subsidies for Mipymes, Lagos, 3, 880; Kano, 3,280; Abia, 3,080; other states, 2,640 each.

For the free CAC registry, Lagos, 9,084; Kano, 8, 406; Abia, 7, 906; other states 6,606 each; Grants for crafts and transportation: 36 states and FCT, 9,009; and Plan to stimulate guaranteed purchase (MIPYMES), Lagos, 3,880; Kano, 3,280; Abia, 3080 and other states 12,640 each.

The government report allayed fears of marginalization of the states in the allocation of spaces for the five tracks of the Survival Fund.

Regarding the ongoing disbursement of grants under the Artisans Track, in the first group of states, the report shows that 66% of the total number of potential registered recipients are male artisans, while 34% are artisans.

He said, “The intention of the Federal Government, under the scheme, is to increase the payroll obligations of companies in the sectors of health production, production, education, hotel and food; award N50,000 grants to 100,000 additional eligible MSMEs; register 250,000 new businesses in the Corporate Affairs Commission (CAC) at no cost to MIPYMES; y Support the self-employed like mechanics, taxi drivers, hairdressers, Keke Napep drivers, Okada drivers, plumbers, electricians, etc. with a single payment of N30,000 to each of them.

“The plan is also aimed at stimulating direct local production in the 36 states of the Federation and the FCT, empowering the MSMEs in the productive sector with funds to stimulate ‘post-COVID’ purchase products.

“Noteworthy is the fact that the program will save more than 1,700,000 jobs and special attention will be paid to 45% of women-owned MSMEs and 5% of special needs-owned MSMEs.

“The scheme comprises five clues namely; Payroll Support, General Mipymes Subsidy, Formalization Support, Craft and Transportation Subsidy, and the Guaranteed Off-Take Scheme ”.

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