Ogun To Begin Implementation Of N1 Billion Grant To MSME
The Ogun State Government says it will soon commence the first phase payment of N1 billion operational grant to Micro and Small Business operators, whom were selected across the 20 Local Government Areas of the State.
Finance Commissioner for Finance, Mr. Dapo Okubadejo, who stated this at a stakeholders engagement in Abeokuta, said that the world bank-backed grant was to facilitate recovery and enhance capabilities of MSME for employment retention and job creation, post COVID-19.
Okubadejo revealed that over 3,500 successful micro and small business applicants would get a maximum of 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 commissioner added that priority would be given to women, youth and persons living with disabilities.
Okubadejo who is also the Chairman, Steering Committee, OG-CARES, said there would be periodic verification by independent agents after disbursement to ensure that beneficiaries deploy the grant judiciously and ensure continuity of their businesses.