InfoStride News reports that the Ogun State Government has unveiled a N1 billion grant aimed at supporting over 1,000 Small and Medium-scale Enterprises (SMEs) as part of ongoing efforts to alleviate the impact of COVID-19 on the sector.
As disclosed in a recent statement, this N1 billion grant marks the second phase of disbursement for eligible applicants. The initial phase, executed under the Ogun State COVID-19 Action Recovery and Economic Stimulus Programme, saw over 1,000 SMEs benefiting from a N120 million grant distributed in July.
Mr. Dapo Okubadejo, Chief Economic Adviser to Governor Dapo Abiodun and Chairman of the State CARES Steering Committee, outlined the operational modalities for accessing the N1 billion grant for SMEs. He emphasized the government’s commitment to fostering economic growth and development within the state by supporting businesses.
Okubadejo highlighted the grant’s broader purpose, aiming not only to assist SMEs but also to aid vulnerable individuals, those with physical impediments, and struggling business owners across various sectors such as trade, agriculture, and artisans.
The Chief Economic Adviser assured that this initiative would be an ongoing process, extending across the state’s three senatorial districts. He encouraged potential beneficiaries to apply through the designated portal, stressing certain criteria such as having a business operating in the state for at least three years, membership in a notable association within the state, regular tax payments, and possessing valid means of identification.
Underlining the crucial role SMEs play in economic development and job creation, Okubadejo acknowledged the positive impact of the state government’s efforts, particularly in infrastructural development, attracting investors to the region.
Ms. Sola Arobieke, the Special Adviser to the Governor on Investment, Promotion And Facilitation Agency (Ogun Invest), and Programme Manager for OG-CARES, urged interested parties to apply, commending the governor for greenlighting the second phase of the grant.
In expressions of support, the Chairmen of the House Committee on Transportation, Daisi Elemide, and Industry, Trade, and Investment, Bisi Oyedele, lauded the state government for fulfilling its promises. They noted that various beneficiaries had already testified to receiving the grant.
Testimonials from stakeholders further underscored the positive impact of the Prince Dapo Abiodun-led government. Mrs. Ganiyat Ogunleye, the Iyaloja of Aseese Market in Obafemi Owode Local Government, along with representatives from the Leather Artisans Association of Nigeria and Community Development Council, Mrs. Olabisi Babalola and Mr. Rasheed Emilia, confirmed that their members had been benefiting from the government’s initiatives.
The unanimous appreciation from beneficiaries and stakeholders reflects the tangible impact of the Ogun State Government’s commitment to supporting SMEs and fostering economic resilience in the face of challenges posed by the COVID-19 pandemic. InfoStride News will continue to monitor and report on developments related to this initiative.
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