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174,574 Persons Apply For COVID-19 Support Fund Within 48 Hours

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Survival Fund: 174,574 Persons Apply For COVID-19 MSME Support

More Micro Small and Medium Enterprises (MSME) has applied for Federal Government financial support under the Nigeria Economic Sustainability Plan.

According to the agency in charge of the program, within 48 hours of opening the registration portal of N75 billion National Survival Fund, a total of 174,574 applications were successfully registered for both the Guaranteed Off-take Stimulus and Survival Fund schemes.

The schemes were instituted to support businesses and individuals negatively impacted by the COVID-19 pandemic.

Mariam Katagum, Minister of State for Industry, Trade and Investment, on Thursday in Abuja said as at “8.30am this (Thursday) morning, total successful registrations stood at 174,574.”

She further stated that “the following states have the highest applications as follows, Kano, 19,895; Kaduna, 13,575; Lagos, 13,640; Katsina: 8,383; Federal Capital Territory, 8,085.

Katagum said about 138,000 applications were registered within the first 24 hours of opening the portal, these applicants created profiles and completed the first stage of registration with Kano, Kaduna and Lagos emerging as lead states.

She explained that all successful applicants were sent SMS and email verification with a list of requirements for the second stage of application which would commence on October 1, 2020.

Applicants will be required to upload details supporting their applications which will be verified and if successful, approved for disbursements,” the minister stated.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.