February 28, 2024

Ogun State Allocates N1 Billion Grant to Small Business owners

Ogun State Allocates N1 Billion Grant to Small Business owners

Ogun State Allocates N1 Billion Grant to Small Business owners

 

By: Ogunleye Oluwapelumi

 

Ogun State has allocated N1 billion to 1,500 business owners across the 20 councils as an operational grant for micro and small-scale enterprises. The grant is aimed at cushioning the effects of the pandemic on micro and small-scale business owners. About 16,000 business owners have been nominated to benefit from the grant across the three senatorial districts, and the first set of 1,500 entrepreneurs will receive notifications within 24 hours.

The Project Manager of the state’s COVID-19 Action Recovery and Economic Stimulus Programme (OGUN CARES), Mrs. Olusola Arobieke, explained that the beneficiaries may not necessarily be indigent, but they will benefit as long as they have a business establishment in the state. The initiative has been ongoing for some time, and the main idea of the N1 billion grant was to serve as relief from the COVID-19 pandemic for micro and small enterprises in all the three senatorial districts of Ogun.

The move is expected to boost the state’s economy and support small business owners who have been adversely affected by the pandemic. The Ogun State government has been at the forefront of providing support for small businesses in the state, and this latest initiative is expected to provide a lifeline for many entrepreneurs who have been struggling to keep their businesses afloat.

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