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  • News - South West - Ogun
  • Updated: May 23, 2024

Ogun govt commences grant disbursement to businesses 

Ogun govt commences grant disbursement to businesses 

The disbursement of the second phase of the N1bn operational grant for micro and small-scale enterprises has commenced in Ogun State.

The disbursement by the Ogun State Government which began on Wednesday is under the OG-CARES Scheme.

The first disbursement was held in 2023, during which 1,000 entrepreneurs in micro enterprises received N100,000 each, while those in the small-scale categories received N350,000 each.

About 2,822 entrepreneurs are expected to benefit from the second phase.

Speaking during the programme held at Obas’ Complex, Oke-Mosan, Abeokuta, Governor Dapo Abiodun said the second phase marked another milestone in his administration’s commitment to supporting the growth and development of enterprises.

Represented by the Deputy Governor, Noimot Salako-Oyedele, the governor added that these enterprises played a role in promoting entrepreneurship, fostering innovation, and driving inclusive economic growth.

Gov Abiodun said, “The operational grant disbursement is aimed at supporting businesses within the state, particularly in the face of the harsh economic realities around the world.

“The beneficiaries were selected through the same strategic, all-inclusive and methodical approach which our administration is known for, by carefully identifying genuine entrepreneurs nominated by key stakeholders in the society, such as chairmen of local governments, market men and women associations, Community Development Councils, organised private sector, National Youth Council, Association of People Living with Disabilities, among others.”

While appreciating President Bola Tinubu for initiating the scheme, the governor reassured that the disbursement would be extended beyond June 2024 when it was initially supposed to end.

He then urged the beneficiaries to use the grants wisely and responsibly.

The Speaker of the State House of Assembly, Oludaisi Elemide implored beneficiaries not to see the grant as a national cake but to use it for the purpose it was meant for.

The Chairman, Steering Committee for OG-CARES, who is also the Commissioner for Finance, Dapo Okubadejo, said the disbursement, which started in 2022, was to mitigate the effect of the COVID-19 pandemic by providing support for small- and medium-scale business owners in the state.

Okubadejo noted that 2,822 small and micro enterprises would benefit from the second phase.

 


 

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