Federal Government has announced that it is launching a new support scheme for Nigerians that will make funds available for Micro, Small and Medium Enterprises (MSMEs).

This was confirmed in a tweet from the official twitter account of the federal government on Monday, 10th August, and also retweeted by the presidency.

The scheme according to the government statement, will make support available to save jobs and sustain local production.

“The Federal Govt is rolling out, under the NESP, support schemes for MSMEs nationwide, including a Guaranteed Offtake Scheme (guaranteeing off-take of priority products); and an MSMEs Survival Fund that will make payroll support available to save jobs & sustain local production,” the statement read.

The committee that will work on the execution of the scheme is headed by the Minister of State for trade and investment, Amb Mariam Katagum while the Vice-Chairman will be Mrs. Ibukun Awosika of First Bank.

The federal government added that details on how to access these MSME Support initiatives will be unveiled soon, by the Implementation Committee.