The Oyo State government, through OYO-CARES, in collaboration with the World Bank and the Bank of Industry, has commenced the enumeration of small-scale business applicants for the NG-CARES/Oyo-CARES project.
This initiative aims to provide financial assistance to businesses affected by COVID-19.
The exercise was held in clusters across three locations namely Ibadan North Local Government, Ogbomoso North Local Government, and Ibadan South-West Local Government.
While addressing the journalists, Farayola Abdulraheed Adetunji, the Coordinator and Disbursement Link Indicator Lead 1 for Oyo State NG-CARES in Ibadan South-West Local Government, said, “The enumeration exercise is a crucial step in ensuring that the right applicants receive the necessary financial support to revitalize their businesses.”
NG-CARES is a Federal Government credit project, assisted by the World Bank, aimed at mitigating the impact of COVID-19 on poor and vulnerable groups. The program, which began in 2022, is a continuous effort to support affected small business owners.
Eligible applicants include small business owners whose operations were severely impacted by COVID-19.
The program offers operational grants ranging from 120,000 to 480,000 Naira and debt relief grants ranging from 150,000 to 300,000 Naira for those who have outstanding loans with microfinance banks or cooperatives.
The qualification process starts with an application, either online or at the NG-CARES office in Jericho, at the NG-CARES section of OYSIPA. Applicants must submit necessary documents, and if nominated, will receive a link to upload credentials for their business and personal information.
Those applying for debt relief must also provide details of their loan status; thereafter, they will be invited for enumeration.
Adetunji emphasized the importance of this program saying “NG-CARES is designed to provide critical financial support to those who need it most, ensuring that small businesses can recover and thrive post-pandemic.”
