Ogun N1bn business grant extended to more MSMEs, beneficiaries

Hundreds of business owners and operators of the Micro, Small and Medium-scale Enterprises (MSMEs) have again been registered in Ogun State for the N1 billion business grant under the COVID-19 Action Recovery and Economic Stimulus Programme, code-named OG-CARES.

Ogun State Government in a tripartite scheme with the Federal Government and World Bank is making available a N1 billion grant for business owners with a view to expanding their capital base as part of economic response to negative impacts of COVID-19 and other financial risks suffered as a result of the economic crunch.

Under Ogun State COVID-19 Action Recovery and Economic Stimulus Programme, hundreds of business owners across the 20 local council areas of the State have accessed the N1 billion grant, ranging from N100,000 to N350,000 per business owner and a total of N120 million was disbursed in the first tranche while the second phase is currently being assessed for onward disbursement to the beneficiaries.

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Speaking at a stakeholders’ engagement held in Abeokuta, the State Capital on Friday, Dapo Okubadejo, the Commissioner for Finance and Chief Economic Adviser, conducted a business session with the would-be beneficiaries of the grant which centred on rules of business, micro and small business management as well as the terms and conditions attached to the N1 billion grant.

Okubadejo, who doubles as the Chairman, OG- CARES Steering Committee revealed said that Dapo Abiodun-led Administration in Ogun State is determined to uplifting businesses towards enhancing economic growth and development of the State, adding that the grant is also being extended to help the vulnerable and people with physical impediments as the grant cuts across various sectors of the State’s economy.

Represented by Adebola Sofela, Commissioner for Industry, Trade and Investment, Okubadejo assured the residents and thw business owners that the business grant would be a continuous exercise in as much as the beneficiaries have running businesses, registered in the last three years with the Corporate Affairs Commission (CAC); evidence of tax payments and means of identification.

While appreciating Governor Dapo Abiodun for the initiative, Okubadejo noted that MSMEs play an important role in the economy of a nation as they are major contributors to job and wealth creation, job opportunities, global economic growth and development, saying “the strides of the present government, particularly in the area of infrastructural development has continued to attract investors into the State’’.

Earliet, Sola Arobieke, Programme Maanger and Special Adviser on Investment, Promotion and Facilitation Agency (OgunInvest) displayed OG-CARES link and urged people to apply via https://www.ngcaresbusiness.org by selecting Ogun State with an upload of business profile and personal data, saying mistakes committed might hinder the seamless grant process, just as she appealed to would-be beneficiaries to revalidate their bank accounts.

Both Daisi Elemide and Bisi Oyedele, Chairmen, Ogun State House Assembly Committees on Transportation, as well as Industry, Trade and Investment, respectively, noted that various beneficiaries had testified to the collection of the grant, applauding the State Government for the gesture, but warned would-be beneficiaries to use the fund to improve their capital base rather than squandering the money on frivolous ventures.

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Responding on behalf business owners and market women, Ganiyat Ogunleye, the Iyaloja of Aseese Market in Obafemi-Owode; Olabisi Babalola and Rasheed Emilia, representatives of Leather Artisans Association of Nigeria and Community Development Council, confirmed that their members were already benefitting from the N1 billion grant, commending Dapo Abiodun-led Government for fulfilling promises made during the electioneering.