Ogun begins 2nd phase disbursement of N1bn grant to micro, small enterprises 

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Aimed to alleviate poverty and mitigate the impact of COVID-19 on businesses, the Ogun state governor has announced the second phase disbursement of the N1 billion grant to micro and small enterprises (MSEs).

This was made known on Monday in a statement by the Adebola Sofela, Commissioner for Industry, Trade, and Investment and a member of the Ogun State COVID-19 Action Recovery and Economic Stimulus (OGUN CARES) Steering Committee.

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Sofela noted that Governor Dapo Abiodun had directed the immediate commencement of the disbursement which will benefit entrepreneurs across the state.

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He said that a stakeholder engagement session will be held for legitimate business owners in the Ogun Central Senatorial District at the Obas Complex Hall, Ministry of Local Government and Chieftaincy Affairs, Oke-Mosan, Abeokuta, on Tuesday, November 21, 2023, to kick-start the second phase.

The commissioner stated that the purpose of the seminars is to enlighten participants about the qualifying requirements and application process.

He added that the time and date of the stakeholder engagement meetings in the East and West Senatorial Districts of Ogun would be announced later.

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More than 1,000 micro and small business owners across the state’s twenty (20) local government areas who received approximately N120 million in funding from the state government in the first phase thanked the governor in a letter of appreciation.

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.

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They drew attention to the sharp rise in operating costs, the difficulty in covering employee salaries, and the expenses associated with running equipment, utilities, and leasing space.

Responding Sofela said “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”.

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