Ogun Disburses Second Tranche of N1bn Operational Grant to Businesses

Ogun State Government on Wednesday commenced the disbursement of the second phase of the N1billion Operational Grant for Micro and Small scale Enterprises in the state under its OG-cares scheme. 

The first disbursement was done in 2023, during which 1,000 entrepreneurs in micro enterprises received N100,000 each, while those in the small scale categories received N350,000 each. 

About 2,822 entrepreneurs are expected to benefit from the second phase.

Speaking at the event, which was held at the Obas' Complex, Oke-Mosan, Abeokuta, Governor Dapo Abiodun noted that his administration's blueprint specifies a social contract with the people of the Gatewey State as encapsulated in the "Building Our Future Together" Agenda, stressing that the 2nd phase marks another milestone in his government's commitment to supporting growth and development of the state's Medium, Small and Micro scale Enterprises. 

Governor Abiodun, who was represented by his Deputy, Engr. (Mrs) Noimot Salako-Oyedele added that these enterprises played a crucial role in promoting entrepreneurship, fostering innovation, and driving inclusive economic growth.

He added that the operational grant disbursement was aimed at supporting businesses within the state, particularly in the face of the harsh economic realities around the world. 

He disclosed that beneficiaries were selected through the same strategic, all inclusive and methodical approach, which his administration is known for by carefully identifying genuine enterpreneurs nominated by key stakeholders in the society, such as chairmen of local governments, market men and women associations, Community Development Councils, organised private sector, National Youth Council, Association of People Living with Disabilities amongst others. 

While appreciating President Bola Ahmed Tinubu for initiating the scheme, the Prince Abiodun reassured that the disbursement will be extended beyond June 2024 when it was initially supposed to end, urging beneficiaries to use the grants wisely and responsibly.

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