Ogun State Government says it will soon commence the first phase payment of one billion naira operational grant to micro and small business operators selected across the 20 local government areas of the state.
The State Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo, who stated this at a stakeholders’ engagement in Abeokuta, explained that the World Bank-backed grant was to facilitate recovery and enhance capabilities of MSEs for employment retention and job creation, post-COVID-19.
Mr Okubadejo pointed out that over 3,500 successful micro and small business applicants would get between 100 and 350 thousand naira respectively, under the Ogun State COVID-19 Action Recovery and Economic Stimulus, OG-CARES programme.
While assuring that the selection process would be open, transparent and fair, the Finance Commissioner noted that priority would be given to women, youth and persons living with disabilities.
Mr Okubadejo, who is also the Chairman, Steering Committee, OG-CARES, maintained that the effect of COVID-19 which was yet to abate and had affected several businesses, especially small and micro enterprises, not only in the state, but the world at large, informed the State government intervention.
He noted that there would be periodic verification by independent agents after disbursement to ensure that beneficiaries deploy the grant judiciously and ensure the continuity of their businesses.
Olusegun Folarin
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