Post COVID-19 Economy: Makinde Urges MSMEs To Access FG’s Survival Fund

Post COVID-19 Economy: Makinde Urges MSMEs To Access FG’s Survival Fund

Oyo State Governor, Engr. Seyi Makinde has called on Micro, Small and Medium Enterprise in the State to access the Federal Government Survival Fund in good time.

The Director-General Oyo State Investment and Public-Private Partnership Agency (OYSIPA) and the focal person for the implementation of the programme in Oyo State, Hon. Segun Ogunwuyi stated this on Wednesday at his office in Ibadan.

Governor Seyi Makinde had launched a 1BN Oyo State MSME fund in June through the Oyo State Investment and Public-Private Partnership Agency (OYSIPA) as a post- COVID-19 recovery effort for Small businesses in the State.

The OYSIPA boss said the State Governor, was encouraging the FG’s survival fund because according to him, MSMEs survival fund is a cluster of grants intended to support vulnerable, Micro and Small Enterprises in meeting their payroll obligations and to safeguard jobs within the MSME space from the shock of the Covid-19 pandemic.

Hon. Segun Ogunwuyi further hinted that, the programme was to save over One million, Seven hundred thousand (1,700,000) jobs nationwide and special focus would be given to 45% female-owned and 5% special needs owned MSMEs.

Across different spheres of interventions, the programme was designed to impact over 39,000 MSMEs in the State, ranging from payroll support, one-off General MSME grants, business formalization, support for free CAC registration for new MSMEs and self-employed individuals like bus drivers, taxi drivers, rideshare drivers and artisans.

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