Ekiti govt begins disbursement of N400m grants to MSEs

Ekiti State Government has commenced the second phase of disbursement of over N400 million grant to 922 Micro and Small Enterprises (MSEs) across the 16 Local Government Areas of the state.

The disbursement according to the government is to alleviate and mitigate financial constraints and other social economic challenges occasioned by the COVID-19 pandemic.

The state commissioner for Industry, Trade, and Investment, Mrs Tayo Adeola, who made this known in Ado Ekiti, said that the disbursement is being carried out under the Ekiti State COVID -19 Action Recovery and Economic Stimulus (EK-CARES) programme.

She noted that the state governor, Biodun Oyebanji approved the disbursement to the qualified Micro and Small Enterprises(MSEs) in the state in a bid to boost the growth of the economy.

Adeola explained that the phase will benefit over 170 businesses on Disbursement Link Indicator, (DLI) 3.1 which is credit grant, 652 businesses on DLI 3.2, operation grant, and 100 beneficiaries on DLI 3.3, Information Technology enhancement grant.

Emphasising the importance of empowering MSEs as a key driver to economic growth and poverty alleviation, the Commissioner said the grants are expected to provide the much-needed lifeline for businesses, enabling them to expand their operations, create job opportunities, and contribute to the overall development of the state’s economy.

While calling on the beneficiaries to use the grant for their intended purpose, she said Governor Oyebanji remained committed to the shared prosperity agenda of his administration by fostering a conducive business environment and supporting local enterprises in the state.

She maintained that the programme is one of the Governor’s many initiatives to enhance the standard of living of the citizens and eradicate poverty in the state.