SURVIVAL FUND OFFTAKE SCHEME:
The MSME Revolving Guaranteed Off-take Scheme is one of the Federal Government’s economic support measures to assist micro and small businesses affected by the pandemic.
75 Billion Naira MSME Survival Fund and Guaranteed Off-Take Schemes (GOS) For MSMEs
In keeping with its promise to support businesses overcome the challenges posed by the COVID-19 pandemic, the Federal Government, is set to commence nationwide implementation of two MSME initiatives namely; the MSME Survival Fund with the Payroll (60 Billion Naira) and the Guarantee Off-take Scheme (15 Billion Naira)
Both schemes are at the core of the N2.3 trillion stimulus package (also known as the Nigerian Economic Sustainability Plan, NESP) being implemented by the Buhari administration to help cushion the impact of the COVID-19 pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.
GUARANTEED OFF-TAKE STIMULUS SCHEME
The scheme will protect and sustain the income of vulnerable micro and small enterprises from the economic disruption of the COVID-19 pandemic through the implementation of various initiatives aimed at boosting the production capacities of small businesses as well as the provision of grants.
The main objective of this particular scheme is to boost the production capabilities of small businesses with the view of ensuring that they remain in business.
Registration commencement date February 9, 2921
LIST OF PRODUCTS CAPTURED IN THE GUARANTEED OFFTAKE STIMULUS SCHEME
CATEGORY A (LOT 1)
(HAND SANITIZERS & CLEANING)
CATEGORY B – LOT 2
(PROCESSED FOODS & GRAINS)
Rice (Raw Paddy)
LOT – 3 (FLOUR PRODUCTION)
Soya bean flour
LOT – 4 (OIL PRODUCTION)
LOT – 5 (SPICES PRODUCTION)
Dry locust beans
THE GENERAL GRANT IS A ONE OF GRANT OF N50,000 THAT WILL BE GIVEN TO EACH QUALIFIED MSME AS DIRECT CASH INJECTION INTO THEIR BUSINESS ENTERPRISE. THE TOTAL NUMBER OF OF BENEFICIARIES IS 100,000 ACROSS THE STATES.
A total of 100,000 Micro Small Enterprises are to benefit from the scheme.
Other states: 2,640 beneficiaries each
ELIGIBILITY & REQUIREMENTS
** MUST BE REGISTERED WITH CAC
** MUST HAVE BVN & BANK ACCOUNT
Step 1: Head straight to the official portal of survival fund (survivalfund.gov.ng)
Step 2: On the top right-hand side, click on “Start Here”
Step 3: From the four options under survival fund, select “Guaranteed Offtake Stimulus Scheme”
Step 4: Receive an activation code
Step 5: Log in to the portal to complete the registration
Step 6: Once fully registered on the platform, complete the onboarding process
Step 7: Add your Organisation, Bank, and Employees details.
Step 8: Allow Project Delivery Office to verify you
Step 9: Finally, get paid