35,000 Enterprises in Kogi to Benefit from MSME Survival Fund – Olofu

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Kogi state government has called on Micro, Small and Medium Enterprises in the state to take of advantage of the Federal Government MSME Survival fund.

The Kogi state Commissioner for Commerce & Industry and State Focal Person of the MSME Survival Fund, Chief Gabriel Olofu stated this in his office during a meeting with the heads of business clusters and MSME associations operating in the state.

According to the State Focal Person, the MSME survival fund comprises of a range of post COVID-19 economic recovery programs created to support the informal sector particularly micro, small and medium enterprises that are most vulnerable to economic effects of the pandemic. 

He said that the MSME Survival Fund has been designed to support over 35,000 MSMEs in Kogi state across different spheres of intervention.

The interventions include payroll support aimed at meeting payroll obligations, general MSME grants, formalization support through free CAC registration for new businesses, one off grants to artisans and service providers in the transport sector and a guaranteed off-take stimulus scheme to sustain the income of MSMEs by guaranteeing the off-take of their products. 

The Commissioner noted that the state government working towards putting  robust mechanisms in place that will ensure that all MSMEs across the three senatorial districts in the state benefit from the scheme.

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