Ogun State Government says the present
administration has empowered more than 12,000 Micro, Small and Medium Enterprises (MSMEs) as well as Small and Medium Enterprises (SMEs) with grants ranging from ₦100,000 to ₦500,000 to support business start-ups and expansion.
Governor Dapo Abiodun made this known at the MSME Business Clinic 3.0, themed: ‘Empowering Businesses, Shaping the Future,’ at the June 12 Cultural Centre, Abeokuta, noting that over 54,000 women entrepreneurs had benefited from revolving grants across the State which showed his administration’s commitment to the growth and sustainability of small businesses.
Represented by the State Head of Service, Mr. Kehinde Onasanya, the Governor said government had continued to provide infrastructure, funding and incentives aimed at strengthening MSMEs.
“It is gratifying to note that our administration has demonstrated a strong commitment to MSME development in Ogun State. We have supported over 10,000 MSMEs with grants ranging from ₦100,000 to ₦300,000 while more than 2,000 SMEs have received ₦500,000 each to scale their businesses and unlock new opportunities’’
“Beyond this, we have deliberately empowered women, youths, artisans and trade groups through bold social initiatives. Our flagship Oko’owo Dapo Women Empowerment Programme, aligned with the Nigeria for Women Project, has empowered over 54,000 women and disbursed more than ₦560 million in revolving grants, while over ₦1.8 billion has been saved collectively through Women Affinity Groups (WAGs)’’,the Governor said.
He added that, as part of the administration’s support for businesses, government had sustained ₦500 million annually in revolving loans to cooperative societies, while youths had benefited from financing, ranging from ₦500,000 to ₦10 million through the Ogun State Youth Empowerment and Entrepreneurship Scheme (OG-YES).
The Governor further disclosed that the Small and Medium Enterprises Industrial Land Acquisition Scheme (SILAS), designed as a modern industrial hub offering incentives, tax rebates and affordable access to land and infrastructure, is underway to further enhance the growth of small businesses in the State.
Abiodun also revealed that through strategic partnerships with organisations such as Getfunded Africa Technologies, Microsoft and Google, over 100,000 SMEs and youths had been exposed to emerging technologies to improve their productivity and competitiveness, adding that the MSME Business Clinic was organised as a practical, solution-driven platform to address real business challenges and provide direct support services for entrepreneurs.
Earlier, Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, said the clinic remained a platform for providing practical solutions to business challenges, urging participants to take full advantage of the opportunities available at the event to grow their enterprises.
According to him, participants would have the opportunity to register their businesses, obtain Tax Identification Numbers (TIN) and access other services that would support their operations.
In his presentation, a guest speaker and tax expert, Mr. Olawale Abiola, who spoke on “Understanding Nigeria’s New Tax Regime: What MSMEs Must Know, Avoid and Take Advantage Of,” said the new tax laws are designed to support small businesses, stressing that businesses earning below ₦800,000 annually, as well as agro-processing firms registered with the Nigerian Investment Promotion Commission (NIPC) were exempted from tax payments under the current provisions.
Abiola advised entrepreneurs to obtain their Tax Identification Numbers, file annual tax returns promptly and avoid transacting with unregistered entities, warning that doing business with such entities could attract a penalty of up to ₦5 million.
Reacting on behalf of the beneficiaries, Mrs. Odunayo Okudero and Mrs. Olamide Oyedunle, commended the State government for organising the Business Clinic, noting that the programme was delivered in a clear and practical manner that enhanced understanding.
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