SMEDAN to Provide N200 Billion Palliative to Eligible Businesses
The Small and Medium Enterprises Development Agency (SMEDAN) is currently compiling a list of eligible businesses to receive a N200 billion palliative from the Federal Government. The palliative is aimed at easing the economic hardship caused by the removal of fuel subsidy and exchange rate unification on small-scale businesses. CONTINUE READING….
In a recent statement, the Director-General of SMEDAN, Mr. Olawale Fasanya, said that the agency is working to update its current data to ensure that there are no duplicates and that the funds are judiciously allocated to the actual recipients.
Eligibility criteria
To be eligible for the palliative, businesses must meet the following criteria:
- Be registered with SMEDAN
- Have a valid tax clearance certificate
- Have a turnover of less than N500 million
- Have been in operation for at least one year
How to apply
Businesses that are interested in applying for the palliative can do so by visiting the SMEDAN website. The application process is simple and straightforward. Businesses will need to provide their basic information, as well as information about their business operations and financial performance.
What to expect
Once the application deadline has passed, SMEDAN will review all of the applications and select the eligible businesses. The selected businesses will be contacted directly and provided with instructions on how to receive their palliative payments.
Significance of the palliative
The N200 billion palliative is a significant investment in the small and medium-scale enterprise (SME) sector. SMEs are the backbone of the Nigerian economy, accounting for over 90% of businesses and employing over 50% of the workforce.
The palliative will help to provide SMEs with the support they need to weather the current economic challenges and continue to grow and create jobs.
Conclusion
The SMEDAN palliative is a welcome initiative that will help to support SMEs during this difficult time. Businesses that are interested in applying for the palliative should do so as soon as possible.
Source: https://punchng.com
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