A total sum of N645 million grant has been distributed to 2,219 beneficiaries across the three senatorial districts of Edo State in the last two years under the NG-CARES programme, by the Edo State government.
Director of Entrepreneurship Development at Edo State Skills Development Agency, Edojobs, who also doubles as Result Area 3 lead, NG-CARES Project, Segun Majekodunmi, disclosed this at the grand finale of the second phase of the disbursement of the grants to beneficiaries in the state.
The grants were presented to beneficiaries in Auchi, Edo North, Ekpoma in Edo Central and Benin in Edo South senatorial districts respectively.
Majekodunmi said the grant, which is a support for businesses in the state, was part of the Nigeria COVID-19 Action Recovery and Economic Stimulus programme, funded by the World Bank, the Federal Government and the Edo State government.
He said N235 million was disbursed to 506 beneficiaries across the 18 local government areas in the state in the first phase, while N410 million was disbursed to 1,713 beneficiaries across the state in this second phase.
He said the 1,713 beneficiaries were selected from 12,000 applicants who applied for the programme in 2023.
He explained that in the second phase, N292.1 million was disbursed to 919 beneficiaries in Edo South, N66.7 million to 474 beneficiaries in Edo North and 51.2 million to 333 beneficiaries in Edo Central senatorial districts respectively.
Majekodunmi informed that the beneficiaries were categorized into three businesses, which are: nano, micro and small scale enterprises.
He said the successful beneficiaries were those who meet the criteria laid down by the World Bank, which include correct and valid bank verification number, bank account details, among others
He added that over 7,000 business owners are expected to benefit from the third phase of the programme before it ends in June 2024.
Commending the World Bank, the Federal Government and Edo State government for the empowerment, Majekodunmi urged beneficiaries of the grant to make judicious use of the funds, noting that it should be utilized for what it was intended for, and not for frivolous projects.
He said, “The intention of the grant is for businesses to be able to pay salaries, rent, equipment, such as laptops, printers, among others to work with.
“The beneficiaries were also trained in different business rudiments, which include business continuity, marketing, business finance, business compliance, risks management, among others.”
Coordinator of NG-Cares in Edo State, Ifueko Alufokhai, noted that the programme is aimed at protecting the livelihoods and food security of poor and vulnerable families.
Alufokhai, who is also the Permanent Secretary, Edo State Ministry of Social Development and Gender Issues, said it was also geared towards facilitating the revitalization of local economic activities across the state, through special intervention to support nano, small and medium-scale enterprises.
She added, “I urged the beneficiaries to utilize all resources, both monetary and intellectual, acquired in the course of the training and programme to invest and build their businesses for a better future.”
Micro Enterprises Director in the Bank of Industry, Akan Ekure, in charge of South-South zone and Enugu State, also commended the Edo State government for keying into the programme to ameliorate the adverse effect the COVID-19 pandemic had on businesses across the country.
Managing Director, Edojobs, Itohan Anita Eribo, on her part, also appealed to the beneficiaries to make good use of the grants.
One of the beneficiaries, Anaza Momoh-Jimoh, commended the state government for ensuring that the programme was devoid of political and tribal sentiments.
