The NG-CARES program under the Edo State government has disclosed that a total sum of N645 million grant has been distributed to 2,219 beneficiaries across the three senatorial districts of the State in the last two years.
Led by Segun Majekodunmi, Director of Entrepreneurship Development at Edo State Skills Development Agency, Edojobs, the NG-CARES Project announced the completion of the second phase of grant disbursement at a grand finale ceremony.
The grants were presented to beneficiaries in Auchi, Ekpoma, and Benin, representing the Edo North, Edo Central, and Edo South senatorial districts, respectively.
The N645 million grant was a collaboration between the World Bank, the Federal Government, and the Edo State government as part of the Nigeria COVID-19 Action Recovery and Economic Stimulus program.
According to the director, “in the first phase, N235 million was disbursed to 506 beneficiaries across the 18 local government areas, while N410 million was distributed to 1,713 beneficiaries in the second phase.”
Majekodunmi highlighted that the selection process was rigorous, with 1,713 beneficiaries chosen from a pool of 12,000 applicants.
The grant aimed to support nano, micro, and small-scale enterprises. The beneficiaries received training in various business aspects such as business continuity, marketing, finance, compliance, and risk management to ensure effective utilization of the funds.
The NG-CARES program plans to benefit over 7,000 additional business owners in the third phase before its completion in June 2024.
Coordinator Ifueko Alufokhai emphasized the program’s objective to protect the livelihoods and food security of vulnerable families while revitalizing local economic activities.
Akan Ekure, the South-South zone and Enugu State Micro Enterprises Director in the Bank of Industry, commended the Edo State government’s involvement in the program to alleviate the adverse effects of the COVID-19 pandemic on businesses nationwide.
Itohan Anita Eribo, Managing Director of Edojobs, appealed to the beneficiaries to make prudent use of the grants.
