Ogun Disburses N1bn Grant to SMEs

The Ogun State Government has announced a N1 billion grant for over 1,000 Small and Medium-scale Enterprises to further mitigate the effects of COVID-19 in the sector.

In a statement on Sunday, it was revealed that the N1 billion grant was the second phase disbursement for applicants.

The first phase of the grant disbursement under the Ogun State COVID-19 Action Recovery and Economic Stimulus Programme was disbursed in July and had over 1,000 SMEs benefiting from the N120m grant.

The Chief Economic Adviser to the Governor, Mr Dapo Okubadejo, who is also the Chairman State CARES Steering Committee, revealing the modalities for accessing the N1bn operational grant for SMEs, said the Governor Dapo Abiodun-led administration was determined to uplift businesses with the aim of enhancing economic growth and development of the state.

Okubadejo disclosed that the grant was also to help vulnerable, people with physical impediments and business owners who were struggling to survive.

He added that the initiative cut across various sectors of the economy, such as trade, agriculture artisans, among others.

Okubadejo assured that the scheme would be a continuous exercise and that it would cut across the three senatorial districts of the state.

He enjoined the beneficiaries to apply through the designated portal, noting that applicants must have a business outfit in the state which they had been running for not less than three years, belong to a notable association within the state, be a regular taxpayer, and have means of identification.

Okubadejo pointed out that SMEs play an important role in the economy, as they are major contributors to job creation and global economic development.

Also speaking, the Special Adviser to the Governor on Investment, Promotion And Facilitation Agency, Ogun Invest, who doubles as the Programme Manager for OG-CARES, Ms Sola Arobieke, urged people to apply and commended the governor for approving the commencement of the second phase of the grant.