February 26, 2023 – Survival Fund Nigeria

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Lukewarm budget for cluster development

Msme

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This is not the official website for the Survival Fund Program. The official website of the Federal Governmant of Nigeria’s Survival Fund Program is www.survivalfund.ng and www.survivalfundapplication.com.
(also registration portal login and application)

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Our website was only created to help disseminate accurate information about the MSME SurvivalFund program.

The COVID-19 crisis and its attendant restriction on movement of people and border closures is causing all components of aggregate demand to fall. The fall in household consumption in Nigeria stems from restrictions on movement, thus causing consumers to spend primarily on essential goods and services; low expectations of future income and the erosion of wealth and expected wealth.

Movement restrictions have not only reduced the consumption of nonessential commodities in general, but have affected the income-generating capacity of the population, thus reducing their own consumption expenditure.

Nigeria has a large informal sector which contributes about 65 percent of its economic output and a large proportion of the population is clustered around the poverty line thus making them highly vulnerable to falling into poverty due to shocks.

The the Federal Goverment through the Ministry of Trade and Investment have flaged-off the National MSME Survival Fund and the Guaranteed
Off-take Stimulus Schemes under the Nigeria Economic Sustainability Plan (NESP). This program is part of the Economic Sustainability Plan, which aims to support and protect these businesses from the potential vulnerabilities brought about by the COVID-19 pandemic. The program includes Payroll Support, Guaranteed Offtake and MSME Grant.

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.

The Payroll Support Scheme is aimed at MSMEs adversely affected by the pandemic. The scheme will provide Payroll Support to a maximum of 10 employees per qualifying MSME.