The Minister of Industry, Trade, and Investment, Richard Adeniyi Adebayo revealed this in a recent statement signed by his Special Assistant on Media and Publicity, Mr. Julius Toba-Jegede.
According to him, plans are currently underway to save about 1.4 million jobs of Nigerians, with 40 percent of them in female-owned MSMEs and 10 percent in businesses belonging to people with special needs.
He added that 3 programs, The MSME Survival Fund, The Guaranteed Offtake Stimulus Scheme, and the Credit Support to MSMEs and Priority Sector will it possible for more citizens to be employed.
His words, “These interventions will save and create about five million jobs, support continued operations, and increase in production capacity in priority sectors and protect MSMEs from the shocks of the COVID-19 pandemic.
”We expect that the Survival Fund will save 1.4 million jobs across the country with 40% of them in the female-owned MSMEs and 10 % in businesses owned by persons with special needs.
”The Guaranteed Offtatake Stimulus Scheme’s objective is to protect jobs, stimulate economic activities across the country and protect the income of vulnerable MSMEs by guaranteeing offtake of items produced by these businesses. The scheme will save an additional 300,000 jobs in MSMEs nationwide.”
“The Credit Support to MSMEs and Priority Sector will provide affordable finance to key sectors impacted by the pandemic and enable an increase in manufacturing capacity in priority sectors. This scheme will save and create an additional three million jobs and will be implemented through N50 billion MSME de-risking facility, N100 billion intervention fund for priority sectors.
”These sectors include healthcare, agro-processing, creative industry, local oil and gas, and exports.
“There will also be N150 billion Capitalization Fund and an N50 billion Export Expansion Facility.”
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