ESP: 1m Nigerians benefitting from survival fund — Presidency

Nigerians

…Says N200bn facility for social housing prepared

By Johnbosco Agbakwuru

THE Presidency yesterday mentioned that over a million Nigerians have to this point benefitted from the Survival Fund scheme below the Federal Government’s Economic Sustainability Plan (ESP).

The Presidency mentioned there are 500,000 beneficiaries from the MSMEs Payroll help monitor, 44,500 below the one-off General MSME Grant, and one other 265,425 below the artisan help monitor, amongst others.

Recall that fee to new beneficiaries of the Payroll Support monitor and the one-time General MSME Grant had commenced on the finish of April.

An announcement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja final night time defined that to this point, below the ESP there are presently over a million beneficiaries nationwide from the assorted schemes.

He mentioned, for the Payroll Support monitor, there are to this point 459,307 profitable beneficiaries. Under the scheme, beneficiaries obtain fee of the N30,000 or N50,000 grant monthly for a interval of three months.

Also learn: Fashola highlights potentials, contribution of constructing/building sector to nationwide financial system

Similarly, for the General MSME Grants, the Spokesman mentioned about 44,500 profitable beneficiaries have acquired fee for the one-off grant of N50,000 every.

The whole variety of beneficiaries of the General MSME Grant will improve within the coming weeks because the Steering Committee has accredited fee to an extra 40,114 profitable new beneficiaries.

He additional said that 202,494 companies have to this point benefitted below the ESP Survival Fund formalization help monitor, which is geared toward registering 250,000 new companies without cost with the Corporate Affairs Commission (CAC).

The formalization help scheme had commenced on the twenty sixth of October, 2020, with the registration by aggregators – CAC registration brokers – throughout the 36 states and the FCT.

The MSME Survival Fund, a element below the ESP is designed to help susceptible Micro Small and Medium Enterprises (MSMEs) in assembly their payroll obligations and safeguard jobs within the MSMEs sector. The scheme is estimated to save lots of not lower than 1.3 million jobs throughout the nation and particularly impression over 35,000 people per state.

He mentioned the National Social Housing Programme (NSHP) below the ESP has acquired an extra increase.

According to him, “Following the finalization of the settlement with the Central Bank of Nigeria (CBN), on the N200 billion facility, the drawdown, with a assure from the Ministry of Finance is now commencing to fund the housing venture.

” The fund, which might be launched in tranches, is anticipated to cowl the NSHP venture execution value of the homes that might be constructed below the social housing venture.

” Under the Social Housing Programme, the Federal Government plans to help 1.5 million Nigerians to accumulate low-cost homes via mortgage choices and likewise Rent to Own choice. The scheme is anticipated to additionally generate 1.8 million jobs and ship homes to about 1.5 million Nigerian households.

“Also, the ESP Solar Naija programme, which is designed to offer electrical energy entry to five million households, serving about 25 million Nigerians in rural areas and under-served city communities nationwide, has recorded some progress.

” One of the native solar energy corporations implementing facets of the ESP Solar Power Naija scheme, A-SOLAR, which is able to ship 100,000 items throughout the nation within the first part of the venture, acquired some increase, with the completion of the disbursement of funds from the Central Bank of Nigeria (CBN).

“The A-SOLAR transaction, which entails a warranty from Niger Delta Power Holding Company (NDPHC), has been accomplished. The disbursement from Sterling Bank to A-SOLAR is anticipated to be in tranches. The first tranche has been disbursed and the Letter of Credit for the importation of the primary set of 30,000 programs is being finalized.

“Upon completion, about 30,000 photo voltaic programs are anticipated to be deployed to Kano, Edo, Delta, Kwara, Katsina and Cross River states, as a part of the 100,000 items below the A-SOLAR association.

” In the identical vein, The Development Finance division of the CBN is finalising the Approval of N20B to finance the downstream element of the programme to fund mini-grid and photo voltaic dwelling system corporations. Once the approval comes via, three corporations will get direct disbursement from the CBN to start their deployment.

“It would be recalled that the Vice President flagged off the Solar Power Naija programme in Jangefe Community in Roni Local Government Area (Kazaure Emirate) of Jigawa state in April, with the launch of 1,000 Solar Home Systems connections for the community’s about 5,000 population. The commencement of the installation in Jigawa is part of a 100,000 scheme with A-SOLAR. ”

The ESP was accredited by President Muhammadu Buhari on June 24, 2020, as an N2.3 trillion stimulus plan to sort out the socio-economic results of the COVID-19 pandemic on Nigerians. The Plan was developed by the Economic Sustainability Committee chaired by Vice President Yemi Osinbajo, SAN, who the President additionally requested to guide its implementation.

Vanguard News Nigeria 

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ESP: 1m Nigerians benefitting from survival fund — Presidency

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