New Telegraph

February 26, 2024

Ogun Begins 2nd Phase Disbursement Of N1bn Grant To MSEs

Ogun State Government has commenced the second phase of the disbursement of the N1 billion grant to micro and small enterprises (MSEs).

The initiative, according to the government, aims at alleviating poverty and mitigating the impact of COVID-19 on businesses in the state.

The Commissioner for Industry, Trade, and Investment Mr. Adebola Sofela, in a statement in Abeokuta on Monday, announced that Governor Dapo Abiodun had directed the immediate commencement of the disbursement process for the second phase of the grants.

Sofela said the second phase will benefit entrepreneurs across the state.

He disclosed that a stakeholder engagement session will be held for legitimate business owners in the Ogun Central Senatorial District in Abeokuta, to kick-start the second phase.

The objective of the sessions, according to the commissioner, is to provide participants with information about the application process and criteria for eligibility.

Sofela added that the date and time for the stakeholder engagement sessions in Ogun West and East Senatorial Districts will be communicated at a later date.

In the first batch, over N120 million was disbursed by the state government to more than 1,000 micro and small entrepreneurs across the twenty (20) local government areas of the state, with the beneficiaries expressing their gratitude in an appreciation letter addressed to the governor.

Trade associations, representing the beneficiaries, including the Nigerian Association of Small Scale Industrialists (NASSI), Association of Small Business Owners of Nigeria (ASBON), Joint National Association of Persons Living With Disabilities (JONAPWD), Artisans Groups, and Market Men and Women, all commended the Governor for his support during the challenging time.

They highlighted the significant increase in operational expenses and the struggle to pay workers’ salaries, as well as the costs of operational gadgets, utilities, and renting shops.

“We believe that this grant will provide much-needed relief to businesses in our state. We appreciate your continued support and encourage you to stay informed about future updates regarding the disbursement process,” Sofela added.

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