Small businesses in Nigeria can now apply for the Federal Government’s N15 billion MSME Grant and Guaranteed Offtake Scheme (GOS).
In line with the National Economic Sustainability Plan (NESP), the general MSME Grant and Guaranteed Offtake Scheme are aimed at supporting vulnerable micro, small and medium-sized enterprises (MSMEs) post-COVID-19.
A total of 100,000 businesses across the 36 states of the country will benefit from the MSME grant. This is according to the Minister of State for Industry, Trade and Investment, Ambassador Mariam Katagum. She disclosed that each qualified MSME will be provided with a one-off grant of N50,000 as direct cash injection into their enterprise.
Like the MSME grant, a total of 100,000 micro and small businesses will benefit from the guaranteed offtake scheme. This will include 3,880 from Lagos, 3,280 from Kano, 3,080 from Abia and 2,640 from all the other 34 states.
The scheme is targeted at MSMEs in the production sector including those dealing in sanitisation/cleaning and processed foods. Beneficiaries will be equipped with funds to encourage direct local production, ensure the sustenance of their income and guarantee the off-take of their products.
Businesses applying for the MSME Grant and/or GOS must be duly registered with the Corporate Affairs Commission (CAC) and possess a valid bank account and Bank Verification Number (BVN).
For the GOS, applicants must be ready to produce under specifications stipulated by the National Agency for Food & Drug Administration and Control (NAFDAC) and Standards Organisation of Nigeria (SON).
GOS applicants should also have at least two (2) employees.
How to Apply
Here are the steps involved to apply for the MSME Grant and Guaranteed Offtake Scheme (GOS).
Step 1: Register Through the MSME CRM Portal
Step 2: Enter Personal Details
At this stage, fill in your personal information including full name, email and residential address. Accept terms and conditions the tap “Register” to continue.
Step 3: Input Organisation Details
After you register successfully, enter your business type – limited liability, non profit or sole proprietorship, CAC registration number and your registered business name. Click Verify to proceed.
Once your CAC details are verified, fill in additional information including CAC year of registration and number of employees. Also state why you need the grant and how COVID-19 has affected your business in the spaces provided. All asterisked (*) sections are required.
Step 4: Add Bank Account Information
This is the final stage of your application. Provide your business account number, bank (account) name and BVN. Click Add Account to finish.
Note that your details cannot be edited once you submit. Double check to confirm that there are no errors.
Technext wishes every applicant a successful exercise.
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