Kogi State Government has begun disbursement of funds to the Micro and Small business owners in the State in order to boost entrepreneurial development across the state.
The Micro Small Business Owners begin the New Year with alerts from the Kogi State Government as KG-CARES, Result Area 3 commences disbursement to beneficiaries; a project been implemented by Kogi Enterprise Development Agency.
The fund is the COVID-19 Action Recovery and Economic Stimulus (KG-CARES) targeting businesses that were adversely affected by the Covid 19 pandemic.
The Kogi Enterprise Development Agency, KEDA through His Excellency, the Executive Governor of Kogi State Alhaji Yahaya Adoza Bello had promised to make Kogi State a business hub through its various intervention programs, one of the thematic areas of his administration.
The funds are meant to facilitate the recovery of MSEs and enhance the capacities of small businesses in the operational sector, not leaving behind those who took loans from financial institutions and for ICT enhancement. DLI 3.1 is a Credit Grant, DLI 3.2 is an Operational Grant while DLI 3.3 is an ICT Enhancement Grant.
Managing Director/CEO KEDA, Hajia Rekiya Onaivo Sanni expressed gratitude to the Governor for keeping to his promises and putting smiles on Kogites’ faces even as the new year begins.
She said the Governor has shown “unparalleled commitment” to business growth and wealth creation in the State.
“The Governor put us on our toes and gave us a marching order to ensure business owners get the funds in the first week of January. She went futher to explain that “as aatter of fact, this is a grant and not loan given to beneficiaries and they are not expected to pay back.
“My staff went to work to deliver on the mandate of His Excellency because we know and understand his passion for business growth in the state. Let me reiterate the fact that KEDA is desirous in monitoring the application of the funds to ensure they are used for the purposes they are meant for”.
She added that this is just an iceberg of supports queued by the New Direction Government to Kogi Business Communities.
One of the beneficiaries, Mr Eniola Jethro told reporters that he received a huge sum of money to expand his business, thanking the State Government for making the year prosperous from the beginning.
He said: “I woke up to alert from the KG-CARES this morning and I was wondering if it was a dream. But it is a reality. While we were celebrating during the Christmas and New Year, our Government was busy working to put smiles on our faces. Thank you Yahaya Bello”, he said.
Another beneficiary who simply introduced herself as Oyiza said she will deploy the funds to expanding her dry cleaning services.
“I was already gathering money for my rent, but now, I can pay the rent and still have enough to buy a few things I need to improve my business. This Governor has made us so happy this year already”, she said.
The National Youth Council of Nigeria Deputy Coordinator for Kogi West, Comrade Eniola Olayemi hailed the Kogi Enterprise Development Agency for the “sterling transparency in selecting beneficiaries”, saying the nation will be better if people with genuine needs and business plans are treated the manner Kogi State is currently doing.
“With the mechanism KEDA set up in line with the Governor’s principle of equity and transparency, it was so seamless and everyone is satisfied”, he said.