In a significant move to bolster the Small and Medium-scale Enterprises (SMEs) sector and mitigate the impact of COVID-19, the Ogun State Government has announced the disbursement of a N1 billion grant to over 1,000 SMEs.
This financial support, revealed in a statement on Sunday, represents the second phase disbursement under the Ogun State COVID-19 Action Recovery and Economic Stimulus Programme.
The Chief Economic Adviser to the Governor, Mr Dapo Okubadejo, who also chairs the State CARES Steering Committee, outlined the modalities for accessing the N1 billion operational grant for SMEs.
He emphasized the administration’s commitment, led by Governor Dapo Abiodun, to uplift businesses with the ultimate goal of fostering economic growth and development within the state.
This grant initiative extends its reach to not only SMEs but also aims to assist vulnerable individuals facing physical impediments and struggling business owners. The sectors encompassed by the grant span trade, agriculture, artisans, and various other economic domains.
Mr Okubadejo assured that this initiative would be an ongoing effort, reaching across the three senatorial districts of the state.
Encouraging eligible beneficiaries to apply through the designated portal, he outlined criteria such as having a business operating in the state for a minimum of three years, affiliation with a notable association within the state, regular tax compliance, and possession of valid means of identification.
Highlighting the pivotal role of SMEs in economic development, Mr Okubadejo emphasized their significant contribution to job creation and global economic progress. He noted, “The strides of the present government, particularly in the area of infrastructural development, have continued to attract investors into the state.”
The Special Adviser to the Governor on Investment, Promotion And Facilitation Agency, Ogun Invest, Ms Sola Arobieke, who also serves as the Programme Manager for OG-CARES, urged eligible individuals to apply and commended the governor for initiating the second phase of the grant.
In testimonies affirming the impact of the grant, Chairmen of the House Committee on Transportation, Daisi Elemide, and Industry, Trade and Investment, Bisi Oyedele, commended the state government for its commitment to supporting businesses. Representatives of various associations, including the Iyaloja of Aseese Market, Mrs Ganiyat Ogunleye, and members of the Leather Artisans Association of Nigeria and Community Development Council, corroborated the positive influence of the government’s support on their respective members.
They expressed gratitude to Governor Prince Dapo Abiodun for fulfilling promises and enhancing the economic landscape of Ogun State.
