Ogun unveils process for applying for N1 billion grant for small businesses

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Ogun unveils process for applying for N1 billion grant for small businesses
Ogun unveils process for applying for N1 billion grant for small businesses

The Ogun State Government has launched the second phase of the distribution of a N1 billion grant to micro and small enterprises, aimed at addressing poverty and mitigating the impact of COVID-19 on businesses in the state.

Mr. Adebola Sofela, the Commissioner for Industry, Trade, and Investment and a member of the Ogun State COVID-19 Action Recovery and Economic Stimulus Steering Committee, announced on Monday that Governor Dapo Abiodun has instructed the immediate commencement of the disbursement process for the second phase of the grants.

In the initial phase, the state government disbursed over N120 million to more than 1,000 micro and small entrepreneurs across the 20 local government areas of the state.

Eligible enterprises include those in retail, fashion, hair and beauty, light manufacturing, and hospitality.

The grant covers expenses such as utilities, rent, and salaries for businesses that meet specific criteria.

To apply, businesses must be located in Ogun State, have a minimum of three employees, have been in operation for at least two years, and demonstrate a reduction in profitability due to the COVID-19 pandemic.

Applicants can visit https://www.ngcaresbusiness.org/ and follow the outlined steps to submit their details.