The Federal Government has said the N2.3 trillion stimulus package under its Economic Sustainability Plan (ESP) was targeted at saving the Micro Small Medium Enterprises (MSMEs) from imminent collapse.
Special Assistant to President Muhammadu Buhari, on MSMEs, Mr. Tola Adekunle-Johnson, stated this during a live interview on Channels Television Sunrise Daily, yesterday.
Adekunle-Johnson said the intervention was aimed at cushioning the effect of the coronavirus pandemic on MSMEs over a three-month period. The Presidential Aide explained that Buhari having realised the important role played by MSMEs in terms of job creation and as engine room for economic growth wants to guard against massive job losses in that critical sector.
He explained that most MSMEs had since the lockdown in March been battling for survival as most of them have been out of jobs with no orders for their goods and services , a development that may eventually compel them to lay-off workers. He disclosed that the intervention would be in the areas of payment of salaries and Guaranteed offtake for goods and services by the Federal Government.
The Presidential aide added that the N2.3 trillion survival fund has a component tagged; Payroll Support Scheme to assist MSMEs who are finding it difficult to pay salaries. Under this scheme, he said only MSMEs that have a minimum of 10 workers and maximum of 50 are qualified to apply for the payroll support. Adekunle-Johnson explained that those that qualify for the scheme and have met the laid down requirement will be requested to send a list of workers on their payroll and after due diligence, their accounts will be directly credited for three-months ‘‘For example, for those MSMEs that are into the production of hand sanitisers and nose masks, the Federal Government will be the major offtaker for the products. By such patronage, the proceeds will help them to kick start their production again.
He added that schools and those operating in the hospitality industry would equally be supported. Government will pay the salaries of those working in those sectors for a period of three months.
No comments:
Post a Comment