This disclosure was made through the Minister of State for industry, Trade and Investment, Ambassador Mariam Katagum, at the digital commissioning of the Fashion Cluster Shared Facility for Micro, Small, and Medium Enterprises (MSMEs) tagged, Eko Fashion Hub, in Lagos.
Katagum disclosed that the initiative is borne out of the Federal Government’s persisted dedication to assisting cushion the devastating effect of the coronavirus pandemic on the financial system by saving present jobs and growing new task opportunities.
The minister stated that President Muhammadu Buhari’s administration, thru the Economic Sustainability Committee, had introduced precise programmes geared toward cushioning the effect of COVID-19 on MSME companies.
She said, “The Federal Government is fully committed to empowering Nigerians; more so in the face of the COVID-19 Pandemic. In this regard, the government, through the Economic Sustainability Committee had announced specific programmes aimed at cushioning the impact of COVID-19 on MSME businesses.
“These programmes include among others, the N75 billion MSME Survival Fund and Guaranteed Off-take Schemes of which I have the honour to chair the Steering Committee for the effective implementation of the projects.
“The Nigerian Economic Sustainability Plan which was produced through a committee headed by the Vice President, Yemi Osinbajo, is a reaction to the health and monetary challenges which foisted on the country by the outbreak of the unconventional coronavirus pandemic.
Aside from growing strong financial regulations and monetary measures to enhance oil and non-oil authorities sales and decrease non-essential spending, the plan additionally consists of a N2.3 trillion stimulus package for the economy.
Katagum stated that the schemes had been at the center of the N2.3 trillion stimulus package being carried out by the Federal Government. She stated that the commissioning of shared centers was additionally anticipated to offer succour and relief to the teeming micro-companies in need of area and infrastructural help
