By Charles Okonji
Small and Medium Scale transporters in the country will soon heave a sigh of relief as Federal Government has concluded plans to dish out a bailout package up to the tune of Ten Billion Naira (N10B) to cushion the effects of the CoVID19 pandemic on their businesses.
The transport track fund will be available to operators of buses, taxis, tricycles, motorcycles, and other kinds of transport businesses that are deemed qualified for government assistance under the Micro Small and Medium Enterprise (MSME) Survival Fund.
Kayode Pitan, the Managing Director, Bank of Industry (BOI), who let this out at the launch of the transport sector track of the scheme in Lagos, says the federal government will soon disburse N30, 000 grant to about 330,000 small and medium scale transport business owners as part of its efforts to put smiles on the faces of many Nigerians.
“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”, Pitan stressed, adding that the MSME survival fund is targeting 4500 transport businesses in each State of the federation.
According to him, the transport track of the fund is available to every transporter who drives buses, taxis, tricycles, motorcycles or are in any other kind of transport business.
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“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 a first-come, first-serve basis,” he stated.
According to him, to qualify for the fund, transporters must be Nigerians with a verifiable Bank Verification Number (BVN), must be registered with a transport association, and self-employed in the transport business.
Also speaking at the ocassion, the president, Ladies on Wheel Association of Nigeria (LOWAN), Mrs. Anyagwa Tolani, said this is the first time her association would partake in a federal government support scheme.
She commended the federal government for the scheme, saying that the fund would help to cushion the effect of the pandemic on their businesses.
She said about 150 women in her association would benefit from this scheme.
“I am very sure that this would attract more women to join our association because we have more than a thousand women that are not registered,” she said.
The National President, Professional E-Hailing Drivers and Private Owners Association, an affiliate of Trade Union Congress of Nigeria, Mr. Shonuga Oluwaseun, said his association is unique because of every member of his association are professionals behind the wheel courtesy of its online branded taxi platform.
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