The MSMEs Survival Fund of 60 billion naira is an initiative by the Federal Government of Nigeria.

It was launched to help support struggling Micro, Small, and Medium Enterprise (MSMEs) cushion the effects of the coronavirus.
MSMEs Survival Fund what you need to know

The purpose of the scheme is to support 1.3 million jobs and an average of 35,000 people across the 36 states of the country and the federal capital territory Abuja.

It is not a loan that you need to pay back, rather, it’s a grant.

You probably already know the portal for registration opened Monday 21 September 2020 but there is a lot more to just visiting the website and submitting your application.

Below are the facts you should know about Nigeria’s Federal Government Survival Fund

The website to apply for the fund is www.survivalfund.ng

Update: It appears the main site is not available, you can also register using this website: https://survivalfundapplication.com/

The website opens for registration by 10 pm Nigerian time on 21 September.

But not everyone can apply, at least for the first week.

The first category of people who can register are those who fall under the “payroll support”.

What is Survival Fund “Payroll Support”?

The “payroll support” under the survival fund scheme is for businesses that have 1-10 people on their payroll and have struggled to pay salaries in the last three months.

The federal government is targeting 500,000 business owners in this category.

The salary range must be between 30,000 and 50,000 naira.

Those in the Education sector have access to apply from 10 pm Monday 21 September 2020

Those in the hospitality sector like cinemas, restaurants, hotels, bars, etc will have access from midnight, Friday, 25 September.

From Monday 28 September 2020, other business owners can visit the website to submit their application.

What You Will Need & Need to Know Before You Apply for the Fund

You must be a Small business owner with staff or be self-employed.

Proof of business registration (CAC).

For those without CAC, the government through its “Formalization Support” will help register 250,000 businesses for free.

Bank Verification Number(BVN) of the company’s owner.

45% of the grant will benefit women owned enterprise.

5% goes to businesses owner by people with special needs.

You will also need to submit other details like your email address, date of birth, and phone number.
Survival Fund Scam or Not?

People have asked if this Survival Fund scheme is legit, and the answer is a big YES.

The Nigerian government knows the economic impact of the COVID-19 is not unique to the western world and has decided to help citizens.

They plan to make this as easily accessible as possible, this is why the application is done online.

Facts About Nigeria's Government Survival Funds

Good initiative

Hi thank for breaking this down. I have a business but don't have a payroll support.

My business is registered with CAC. Am I eligible to apply?

I did my registration already, my company status is now showing activated, what does that mean?