Ogun to support SMEs with N1 billion grants

The Ogun state government has said it is ready to support micro and small businesses in the state with an operational grant of one billion naira under the economic recovery and stimulus package. State of Ogun COVID-19.

A statement said the Commissioner of Finance and Chief Economic Advisor to the Governor, Mr. Dapo Okubadejo, noted this in Abeokuta, during a stakeholder engagement session held for entrepreneurs from Ogun East Senate Districts. and from Ogun Central to the Ijebu-Ode Local Government Secretariat and Lafenwa. respectively.

Okubadejo, who is also Chairman of the State Steering Committee, OGUN CARES, represented by MSE Operational Grant Delivery Platform Program Manager, Ms. Sola Arobieke, said the Governor, Prince Dapo Abiodun, in partnership with the federal government and the World Bank, was providing an operating grant aimed at cushioning the effects of the COVID-19 pandemic on micro and small businesses.

The Commissioner, in a statement signed by Media PR/Lead, OG-CARES, RA3.2., Mr. Ismail Oladipo, said the initiative was in recognition of the current administration’s significant contribution to the growth of the economy, especially in the area of ​​job creation, to gross domestic product.

He said the two-year program would provide a grant to cover the payment of operational costs typically incurred by entrepreneurs such as utility bills, rent and staff salaries, adding that MSEs who were in the business of retail, fashion, hair care/beauty, light manufacturing and hospitality sectors had been selected for the first phase of the program, as other sectors would be considered in subsequent phases.

Okubadejo said that for a business to be eligible for the operating grant, it must be located in Ogun State and have been in existence for more than two years. It must have at least three employees and its profitability must have been affected by the COVID-19 pandemic. In their goodwill messages, the Chairpersons of Odogbolu and Ijebu-Ode Local Governments, Honorable Shuaib Ladejobi and Emilola Gazal respectively, appreciated the State, Federal Governments and the World Bank for this commendable initiative, adding that the operational grant would help SMEs to stabilize and reposition themselves. their businesses.

The President of the Ijebu Chamber of Commerce, Prince Rafiu Osiyemi, and the President of the Small Business Owners Association of Nigeria, Dr. Femi Egbesola, thanked the Governor for the opportunity given to MSMEs to boost their businesses and urged recipients to use the grant wisely. .

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