Ogun State Launches Ambitious Economic Empowerment Program: Boosting Private Sector Participation and Enhancing Business Environment

By: Amadi Vincent Uzoma

The second phase of a N1 billion operational grant from the OG-CARES scheme is now being distributed by the Ogun State Government to micro and small enterprises in the state.

The initial disbursement took place in 2023. During this round, 1,000 entrepreneurs in micro-enterprises were given N100,000 each, while small-scale enterprises received N350,000 each.Governor Dapo Abiodun, speaking at the event held at the Obas’ Complex in Oke-Mosan Abeokuta, highlighted that this grant is a crucial part of his administration’s plan to support the growth and development of medium-sized and micro enterprises (MSMEs) amidst challenging global economic conditions.The beneficiaries were carefully chosen through a collaborative effort involving various stakeholders from different sectors, including local government chairmen, market associations, Community Development Associations, the private sector, the National Youth Council, and the Association of People Living With Disabilities.Governor Abiodun expressed gratitude to President Bola Tinubu for starting the scheme and assured that its continuation beyond June 2024 is planned.

He encouraged recipients to use the grants wisely to bring about positive changes and contribute to economic growth.Speaker Rt. Hon. Oludaisi Elemide urged beneficiaries to utilize the funds for their intended purposes and inspire the government to launch new initiatives rather than view it as a handout.Commissioner for Finance and Chairman of the OG-CARES Steering Committee, Mr. Dapo Okubadejo, highlighted that the grant will provide social protection for the underprivileged and support agricultural businesses to strengthen the food supply chain. Recipients were encouraged to make effective use of the funds.

Representatives from various associations, including Femi Egbesola from the Association of All Business Owners of Nigeria and Alhaja Yemisi Abass, praised the administration for empowering small and medium-scale enterprise owners, youths, farmers, and market traders through the OGCARES scheme, turning many beneficiaries into employers.