Ogun to support MSEs with N1bn operational grant

Ogun State Government is set to support Micro and Small Enterprises (MSEs) across the State with N1 Billion operational grant, through the Ogun State COVID-19 Action Recovery and Economic Stimulus Programme (OGUN-CARES).

Commissioner for Finance and Chief Economic Adviser to the Governor, Mr. Dapo Okubadejo made this known in Abeokuta, during a stakeholders’ engagement session organised for entrepreneurs in Ogun East and Ogun Central Senatorial Districts, at Ijebu-Ode Local Government secretarial and Lafenwa respectively.

Okubadejo, who is also the Chairman, State Steering Committee for OGUN CARES, represented by the Program Manager for the MSE Operational Grant delivery platform, Ms. Sola Arobieke stated that the Governor, Prince Dapo Abiodun in partnership with Federal Government and World Bank is providing operational grant aimed at cushioning the effects of COVID-19 pandemic on Micro and Small Enterprise.

The Commissioner, in a statement signed by Media PR/Lead, OG-CARES, RA3.2. Mr. Ismail Oladipo, stated that the initiative is in recognition of the present administration’s significant contribution to the growth of economy of the State, particularly in the area of job creation to the Gross Domestic Product (GDP).

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He stated that the two-year programme would provide a grant to cover the payment of operational costs usually incurred by entrepreneurs such as utility bills, rent, and staff salaries, adding that MSEs who are into retail, fashion, hair/beauty care, light manufacturing and hospitality sectors had been selected for the first phase of programme, as more sectors would be considered in the subsequent phases.

Okubadejo said for an enterprise to be eligible for the operational grant, such must be located in Ogun State, be in existence for over two years, at least with three staff and profitability of the business must have been affected by the COVID-19 pandemic.

In their goodwill messages, the Chairmen Odogbolu and Ijebu-Ode Local Governments, Honourables Shuaib Ladejobi and Emilola Gazal respectively, appreciated the State, Federal Governments and World Bank for the laudable initiative, adding that the operational grant would assist the SMEs to stabilise and reposition their businesses.

Also speaking, the Chairman, Ijebu Chamber of Commerce, Prince Rafiu Osiyemi and the President, Association of Small Business Owners of Nigeria (ASBON), Dr. Femi Egbesola thanked Governor Abiodun for the opportunity given to  MSEs, to boost their businesses, urging beneficiaries to use the grant judiciously.

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In their remarks, Chairmen Abeokuta North and Odeda Local Government Honourables Adebayo Ayorinde and Folashade Adeyemo respectively, urged the micro and small business owners to key into the programme, adding that the grant would boost the beneficiaries’ businesses, as well as have a positive impact in their livelihood.

Speaking on behalf of traders’ associations, artisans, and promoters of formal and informal business enterprises, the Iyaloja of Ewusi Market, Sagamu, Chief (Mrs.) Toyin Bello commended the State Governor for the people-oriented programme, saying she is optimistic that beneficiaries would make good use of the grant.

The stakeholder engagement session continues on Thursday, June 2, 2022, at Ado-Odo/Ota Local Government Secretariat for Ogun West Senatorial District.