Nigeria Newspapers

Ogun disburses second phase of N1b operational grant to businesses


Ogun State Government, yesterday, commenced the disbursement of the second phase of the N1 billion operational grant for Micro and Small-scale Enterprises (MSEs) in the state under its OG-cares scheme.

The first disbursement was done in 2023, during which 1,000 entrepreneurs in micro enterprises received N100,000 each, while those in the small scale categories received N350,000 each.

About 2,822 entrepreneurs are expected to benefit from the second phase. The state governor, Dapo Abiodun, who spoke at the event, which was held at the Obas’ Complex, Oke-Mosan, Abeokuta, said that his administration’s blueprint specifies a social contract with the people of the Gatewey State as encapsulated in the “Building Our Future Together” Agenda, stressing that the second phase marks another milestone in his government’s commitment to supporting growth and development of the state’s Medium, Small and Micro-scale Enterprises.

Abiodun, who was represented by his Deputy, Noimot Salako-Oyedele, added that these enterprises played a crucial role in promoting entrepreneurship, fostering innovation, and driving inclusive economic growth.

He said that the operational grant disbursement was aimed at supporting businesses within the state, particularly in the face of the harsh economic realities around the world. Besides, he said that beneficiaries were selected through the same strategic, all inclusive and methodical approach.

which his administration is known for by carefully identifying genuine enterpreneurs.

nominated by key stakeholders in the society, such as chairmen of local councils, market men and women associations, Community Development Councils (CDC), organised private sector, National Youth Council, Association of People Living with Disabilities, among others.

Abiodun, while appreciating President Bola Ahmed Tinubu for initiating the scheme, said that the disbursement would be extended beyond June 2024 when it was initially supposed to end, urging beneficiaries to use the grant wisely and responsibly.