Ogun State Government Disburses N1 Billion Grant to SMEs

The Ogun State government has disclosed that it will give out N1 billion grant to 1000 SMEs to mitigate the effects of COVID-19 in the sector.

This was revealed in a statement on Sunday, stating that the N1 billion grant was the second phase of disbursement for applicants.

The first phase of the grant was done in July 2023, and over 1,000 SMEs benefited from the N120 million grant.

However, the Chief Economic Adviser to the Governor, Mr Dapo Okubadejo, who is also the Chairman of the State CARES Steering Committee, revealed the modalities for accessing the N1bn operational grant for SMEs and added that Governor Dapo Abiodun-led administration was determined to uplift businesses to enhance economic growth and development of the state.

Okubadejo said the grant was to help vulnerable people with physical impediments and business owners struggling to survive in the economy.

He said that the initiative will assist different sectors of the economy, such as agriculture, artisans, trade, and many more.

He assured that the scheme would be a continuous exercise and cut across the state's three senatorial districts.

He encouraged beneficiaries to apply through the approved portal, noting that applicants must have a business outfit in the state for which they had been running for not less than three years, belong to a notable association within the state, be a regular taxpayer, and have means of identification, the PUNCH reports.

Okubadejo said that SMEs are essential to the country's economy, as they help in job creation and global economic development.

He stated categorically, “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, who serves as the Programme Manager for OG-CARES, Ms Sola Arobieke, urged people to apply and commended the governor for approving the commencement of the second phase of the grant.

In their goodwill messages, the Chairmen of the House Committee on Transportation, as well as Industry, Trade, and Investment, Daisi Elemide and Bisi Oyedele, respectively, noted that various beneficiaries had testified to collecting the grant and applauded the state government for the gesture.