Ogun Govt To Give N1b Grant To Boost Micro, Small Enterprises Operations - EDU-BIZNEWS


Tuesday, October 11, 2022

Ogun Govt To Give N1b Grant To Boost Micro, Small Enterprises Operations

Ogun State Government says it will soon commence the first phase payment of N1bn operational grant to Micro and Small Enterprises (MSEs), selected across the 20 Local Government Areas of the State, under the Ogun State COVID-19 Action Recovery and Economic Stimulus (OG-CARES) programme.

The State Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo who revealed the incentives at a stakeholders’ engagement in Abeokuta, explained that the World Bank-assisted grant was to facilitate recovery and enhance capabilities of business operators for employment retention and job creation,  after the  COVID-19 pandemic.

Okubadejo, who is also the Chairman, Steering Committee, OG-CARES,  revealed that over 3,500 successful MSEs applicants would get a maximum of N100,000 and N350,000 respectively, assuring that the selection process will be transparent and fair

He added that women, youths and persons living with disabilities would be given priority.

According to him, "we will ensure that all the beneficiaries are carefully selected and represent a broader spectrum of the people that have been specifically affected”.

The Commissioner maintained that the reverberating effect of COVID-19   had affected several businesses, especially Micro and  Small Enterprises across the world, saying there would be periodic verification by independent agents after disbursement to ensure that beneficiaries utilise the grant judiciously.


No comments:

Post a Comment