The Ogun State Government has commenced the second phase of its N1 billion Operational Grant for Micro and Small Scale Enterprises under the OG-CARES scheme. This phase follows the initial disbursement in 2023, where 1,000 micro-entrepreneurs received N100,000 each, and small-scale enterprises received N350,000 each. The current phase aims to support 2,822 entrepreneurs.
Governor Dapo Abiodun, represented by his Deputy, Engr. Noimot Salako-Oyedele highlighted that the initiative aligns with the administration’s “Building Our Future Together” Agenda. The scheme underscores the government’s commitment to fostering the growth of MSMEs, which are essential for entrepreneurship, innovation, and inclusive economic development.
Governor Abiodun noted that the grants aim to support businesses facing global economic challenges. Beneficiaries were selected through a methodical and inclusive process involving stakeholders like local government chairmen, market associations, and the organized private sector.
He also appreciated President Bola Ahmed Tinubu for initiating the scheme and announced that the disbursement period would extend beyond June 2024. The governor urged beneficiaries to utilize the grants effectively to drive economic growth.
Speaker of the State House of Assembly, Rt. Hon. Oludaisi Elemide emphasized the responsibility that comes with receiving the grants and urged beneficiaries to use the funds for their intended purpose.
Mr. Dapo Okubadejo, the Chairman of the OGCARES steering committee and Commissioner for Finance, noted that the scheme started in 2022 to mitigate the effects of the COVID-19 pandemic by supporting small and medium-sized businesses. He highlighted that the grants also serve as social protection for the poor and vulnerable, and support agricultural businesses.
Hon. Emilola Gazal, ALGON Chairman and Ijebu Ode Local Government Chairman, commended the state government for its grassroots development efforts. He stressed the timeliness of the grants amid current economic hardships.
Representatives from business and market associations, including Dr. Femi Egbesola of the Association of All Business Owners of Nigeria and Chief (Mrs) Ganiyat Oyelakin representing the Iyaloja General of Ogun State, praised the government for its efforts in empowering business owners, youths, and farmers. They noted that the OGCARES scheme has helped many beneficiaries become employers of labor.
