The Ogun State Government, through its OG-CARES scheme, has initiated the disbursement of the second tranche of a N1 billion operational grant to micro and small enterprises (MSMEs) in the state.
This move follows the first disbursement conducted in 2023, during which 1,000 entrepreneurs in the micro-enterprise category received N100,000 each, while those classified as small-scale enterprises were granted N350,000 each.
Speaking at the event held at the Obas’ Complex in Oke-mosan, Abeokuta, Governor Dapo Abiodun highlighted that the grant marks another significant stride in his administration’s blueprint, aimed at supporting the expansion and development of MSMEs, particularly in the face of challenging global economic conditions.
Governor Abiodun, represented by his deputy, Noimot Salako-Oyedele, revealed that beneficiaries were selected through a strategic and inclusive approach, involving key stakeholders such as local government chairmen, market associations, Community Development Associations, private sector organizations, the National Youth Council, and the Association of People Living With Disabilities.
Expressing gratitude to President Bola Tinubu for initiating the scheme, the governor assured that its continuity beyond June 2024 is guaranteed. He urged beneficiaries to utilize the grants judiciously to drive positive change and contribute to economic growth.
The Speaker of the State House of Assembly, Rt. Hon. Oludaisi Elemide, urged beneficiaries to use the funds responsibly and inspire the government to undertake further initiatives, rather than viewing it as a national entitlement.
Earlier, Mr. Dapo Okubadejo, the Commissioner for Finance and Chairman of the OG-CARES Steering Committee, emphasized that the grant serves as social protection for the poor and vulnerable while also supporting agricultural businesses to enhance the food supply chain.
In their testimonies, representatives of business associations, Femi Egbesola and Alhaja Yemisi Abass, commended the Abiodun-led administration for its developmental efforts, particularly in empowering MSMEs, youths, farmers, and market traders. They noted that the OGCARES scheme had elevated many beneficiaries into employers of labor.
