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Business News of Wednesday, 25 November 2020


FG disburses coronavirus survival fund to MSMEs in Bauchi

File photo: Federal Government logo File photo: Federal Government logo

The Federal Government has commenced the disbursement of the N75billion COVID-19 Survival Fund to Micro Small and Medium Enterprises (MSMEs) in Bauchi State.
At a sensitisation programme held at the Railway Market to mobilise traders, artisans and other business owners in Bauchi, the Director-General, Industrial Training Fund (ITF), Joseph Ari, said the intervention was to make the beneficiaries’ businesses return to the right track after the wave of the pandemic.
According to him, the Federal Government has approved the fund to cushion the effect of the lockdown on businesses occasioned by COVID-19 across the country.
Ari, who was represented by the Fund’s Deputy Director, SERVICOM, Gambo Nemogha, said the Federal Government embarked on the programme to mitigate the effect of COVID-19 challenges and to ensure businesses and economic activities survive among traders.
He explained that the beneficiaries were selected through their trade associations, urging other traders to register with the union’s eligibility of accessing the grant, adding that each of the benefitted traders would get N30,000 to boost his business.
Meanwhile, a representative of the ‘50Million Africa Women Speak Project’, Mrs Lami Magaji, urged women to take advantage of the programme to support themselves and their households.

She also enjoined other women traders to form associations and open bank accounts. He asked those who benefitted to use the money judiciously.
Some of the beneficiaries, Yahaya Abdullahi, a Carpenter and Hadiza Magaji, a tailor thanked President Muhammadu Buhari for the gesture and promised to use the money judiciously. The occasion had in attendance representatives of the Bank of Industry, and leaders of trade unions across the states.