Ogun begins disbursement of grants to micro, small businesses

The Ogun State Government, through its OG-CARES scheme , has begun the disbursement of the second part of a N1 billion operational grant to micro and small enterprises in the state

Recall that the first disbursement was done in 2023, during which, 1,000 entrepreneurs in micro enterprises received N100,000 each, while those in the small-scale category received N350,000 each.

Speaking at the event held in the Obas’ Complex, Oke-mosan Abeokuta, Governor, Dapo Abiodun, said the grant was another significant step in his administration’s blueprint, which outlined a social contract s to support the expansion and development of medium-sized and micro enterprises (MSMEs), especially in light of the challenging global economic conditions.

The governor, represented by his deputy, Noimot Salako-Oyedele, disclosed that beneficiaries were selected through the same strategic, all-inclusive and methodical approach by carefully identifying genuine entrepreneurs nominated by key stakeholders in the society.

She explained that the stakeholders are chairmen of local governments, market men and women associations, Community Development Associations, the organiSed private sector, National Youth Council and Association of People Living With Disabilities, among others.

While appreciating President Bola Tinubu for initiating the scheme, the governor assured that it would be extended beyond June 2024, urging beneficiaries to use the grants wisely and responsibly, to drive expected positive change, as well as contribute to the growth and development of the economy.

In his contributions, Speaker of the state house of Assembly, Rt. Hon. Oludaisi Elemide, implored beneficiaries to use the money for its intended purpose and to inspire the government to take on new initiatives rather of viewing it as a national cake.

Earlier, Mr Dapo Okubadejo, the Commissioner for Finance and Chairman of the OG-CARES Steering Committee, stated that the grant would also serve as social protection for the poor and vulnerable in the society, as well as support agricultural businesses to boost food supply chain, while urging beneficiaries to make judicious use of the grant.

In their separate testimonies, Chairman, Association of All Business Owners of Nigeria, Femi Egbesola and the Iyaloja General of Ogun State, Alhaja Yemisi Abass, represented by the Iyaloja Obafemi Owode, Ganiyat Oyelakin, commended the Dapo Abiodun-led administration for its developmental strides in the state, especially on empowering small and medium scale business owners, youths, farmers, market men and women, saying the OGCARES scheme had elevated many beneficiaries into employers of labour.