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Nigerian govt extends MSME survival fund to 4,500 transporters in each state

Kayode Pitan, Managing Director Bank of Industry

A total of 4,500 transport operators in each state of the country now have the chance to benefit from the Micro, Small and Medium Enterprise (MSME) survival fund of the Nigerian government, Kayode Pitan, managing director of Bank of Industry said on Monday.

Pitan said at the inauguration of the transport sector track of the initiative in Lagos that the MSME fund had been set up to support transporters, who owned taxis, motorcycles, buses and tricycles or those engaged in other types of transport business.

“This fund is for people whose transport businesses have been affected by the pandemic and the Federal Government would be disbursing N30,000 grant to 330,000 self-employed people in the country.”

The Nigerian government had in October commenced the disbursement of N30,000 one-off grant to 330,000 artisans with the launch of the first phase in Lagos, Abuja, Kano and nine other states.

Read also: N2.3trn stimulus package will save MSMEs from collapse –Presidency

“We will be working with the unions and we are also using this medium to encourage their members to apply for the fund (MSME) as it would be on first come, first serve basis,” Pitan said.

Nigerian transporters with verifiable Bank Verification Numbers, registered with transport associations and who are self-employed in the transport business are eligible for the MSME scheme.

Anyagawa Tolani, president of Ladies on Wheel Association of Nigeria, said the MSME initiative would provide the buffer needed against the impact of the pandemic on businesses.

“I am very sure that this would attract more women to join our association because we have more than a thousand women that re not registered,” she said.

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