Abeokuta, Ogun State – In a bold move to revive the economy following the devastating impact of the COVID-19 pandemic, Governor Dapo Abiodun has unveiled a groundbreaking initiative that will provide N1 billion in grants to thousands of Micro, Small, and Medium-scale Enterprises (MSMEs) operating in Ogun State.
The grants, part of an economic stimulus program developed by Governor Abiodun in collaboration with the Federal Government and World Bank, commenced last week with the meticulous screening and assessment of over 1,500 MSME operators carefully selected from across all 20 Local Government Areas in the state.
During the Enumeration and Vetting Exercise held in Abeokuta, Dapo Okubadejo, Chief Economic Adviser to Governor Abiodun, emphasized that the objective is to mitigate the negative impact of COVID-19 on MSMEs and their operators. The N1 billion grants will provide a much-needed boost to these businesses and contribute to their sustained growth.
As the Chairman of the Steering Committee for the Ogun State COVID-19 Action Recovery and Economic Stimulus Programme (OG-CARES), Okubadejo highlighted that the initiative is also aimed at eradicating poverty by injecting funds into the economy and creating intensive economic activities.
So far, over 16,000 applications have been received from business owners across various sectors in the state’s three Senatorial Districts. Out of this, 1,500 deserving beneficiaries have been selected for the first batch, with funds set to be disbursed within 24 hours.
Okubadejo emphasized that the grants are not limited to indigenes of the state but also extend to business owners who have established their enterprises in Ogun State.
The announcement of the grants has garnered widespread acclaim from key stakeholders in the business community. Oluwayemisi Abass, Iyaloja-General of Yewaland and President-General of Market Men and Women Associations of Ogun State, lauded Governor Abiodun’s administration, stating that such a generous initiative has never been witnessed in the state’s history.
Leaders of prominent trade associations including the Nigerian Association of Small Scale Industrialists (NASSI), Association of Small Business Owners of Nigeria (ASBON), Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), and Community Development Councils (CDCs) have all commended Governor Abiodun for his remarkable efforts in fostering economic growth and development.
Artisans across the state’s 20 Local Government Areas and the Joint National Association of Persons Living With Disability (JONAPWD) have also expressed their gratitude to the state government for the timely intervention in their businesses.
Beneficiaries of the grants, such as Israel Ariyo, a boutique owner from Ijebu-Ode Local Government, and Olamide Olatunde, owner of a Beauty and Cosmetics Shop in Ado-Odo, Ota Local Government, acknowledged that the grants will alleviate the burden of seeking loans from commercial banks and accelerate the growth of their businesses.
