The Federal Government and the Ogun State Government have given grants to more than 17,000 Micro, Small and Medium Enterprises and traders in the state.
According to a statement from the Ogun State Government on Sunday, Vice President Kashim Shettima announced this during the second Expanded National Micro, Small and Medium Enterprises Business Clinic, which was held in the state recently.
The Office of the Vice President in collaboration with the Ogun State Government organised the MSMEs clinic in Abeokuta.
Speaking at the event, Shettima said that 200 entrepreneurs at the Modern Adire Shared Facility would each get a grant of N100,000 each and an exemption from paying rent for one year.
He also added that each exhibitor at the Expanded National MSMEs Business Clinics would get N150,000 grant to further boost their businesses.
“The consolidated efforts serve as a facilitator which would lead to a robust environment for our MSMEs to grow. Ogun State has been impressive with its roles in improving the lots of MSMEs,” he said.
In his address, The Ogun State Governor, Dapo Abiodun, disclosed that the state government, given the present economic condition, would support small businesses with a N2bn conditional grant, through which 10,000 MSMEs would be empowered with N100,000 in grants each.
He added that 2,000 SMEs would each get a N500,000 grant to aid their businesses.
Abiodun added that as part of his administration’s first phase of intervention, the informal sector would also benefit as 5,000 market women, who would each get N50,000 to boost their trading activities and students would also benefit from the government cash grant.
He revealed that the state in its drive to harness the benefits of the African Continental Free Trade Agreement, would through its SME Industrial Land Administration Scheme establish a 1,000-hectare SME industrial park.
The governor said that the park would be available to small business owners at lower market rates, with benefits such as Certificates of Occupancy and other incentives, including rebates on taxes and land use charges.
In his response, the President of Organised Private Sector Network and Association of Small Business Owners of Nigeria, Dr Femi Egbesola, lauded the Federal and Ogun State Governments for the grants, describing it as timely help, which would ultimately enhance businesses and result in improved revenue generation for the government in the long run.
