LAGOS STATE GOVERNMENT REFUNDS 145 FORMER SUBSCRIBERS OF EGAN HOUSING ESTATE
admin Ogun State government yesterday began disbursing the second phase of the N1 billion Operational Grant for Micro and Small Scale Enterprises (MSMEs) under its OG-cares scheme.
The first disbursement was done in 2023, and 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.
Governor Dapo Abiodun noted that his administration’s blueprint specifies a social contract with the people as encapsulated in the ‘Building Our Future Together’ Agenda. He stressed that the second phase marks another milestone in his government’s commitment to supporting growth and development of the MSMEs in the state.
Abiodun, represented by Deputy Governor Mrs. Noimot Salako-Oyedele, added that these enterprises played a crucial role in promoting entrepreneurship, fostering innovation, and driving inclusive economic growth.
While appreciating President Bola Tinubu for initiating the scheme, the governor promsied that the disbursement will be extended beyond June 2024 when it was initially supposed to end. He also urged beneficiaries to use the grants wisely and responsibly.
Speaker of the House of Assembly Oludaisi Elemide noted that to whom much is given, much is expected. He implored beneficiaries not to see the grant as national cake but use it for the purpose it was meant for.
Chairman of the OGCARES steering committee, who is also Commissioner for Finance, Dapo Okubadejo, said the disbursement, which started in 2022, was to mitigate the effects of COVID-19 by providing support for small and medium scale business owners.
