333,000 Artisans and  Transporters to Receive N30,000 Survival Fund Each

The Federal Government on Thursday, October 1st, 2020 officially launched 333,000 artisans and transporters survival fund of N75 billion announced by the Central Bank of Nigeria on Wednesday.

According to Miriam Katagum, the Minister of State for Industry, Trade and Investment, who flagged off the scheme in Abuja, said 9,009 beneficiaries will be picked from each of the 36 states of the federation and the Federal Capital Territory.

She explained that the fund would be disbursed through registered and recognised associations so that members and the bodies can attest to its transparency.

The artisans and transport support scheme was introduced to provide one time N30,000 to 333,000 artisans and transport business operators.

She said, “One-off payment of N30,000 will be given as grant to each beneficiary. The categories of self-employed individuals eligible to participate in this track of the Survival Fund Scheme include mechanics, taxi drivers, ride share drivers.

“Others include hairdressers, ‘Keke NAPEP’ riders, Okada riders, plumbers and electricians.”

Katagun added that starting from Monday, free registration of 250,000 new businesses with the Corporate Affairs Commission would commence.

“This will be at no cost to the MSMEs. The Federal Government will pay CAC N6,000 for each registration and this is under the formalisation support and it is for all MSMEs that require formalisation,” Katagum stated.