Nigeria targets transport operators in its survival fund for small businesses

The Federal Government has said its Micro, Small and Medium Enterprise survival fund for the transport sector will benefit 4,500 transport businesses in each state across the federation.

The Managing Director, Bank of Industry, Kayode Pitan, said this at the launch of the transport sector track of the scheme in Lagos on Monday.

He said the transport fund was available to transporters driving buses, taxis, tricycles, motorcycles or in any other kind 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,” he said.

He said the Federal Government had plans to support over 330,000 self-employed people that had been affected by the pandemic with this scheme.

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

He said to qualify for the fund, transporters must be Nigerians with a verifiable Bank Verification Number; must be registered with a transport association, and self-employed in the transport business.

Call 0803 239 3958 for free financial consulting advice for your businesses. Attend our bi-monthly Peachtree Sage 50 accounting and reporting seminar.
Reach us or send your financial updates and articles to info@skytrendconsulting.com.