Oyo State government, on Monday, commenced a two-day enumeration of small-scale business applicants for the NG-CARES/Oyo-CARES project.
The initiative, through OYO-CARES, in collaboration with the World Bank and the Bank of Industry, was aimed at providing financial assistance to businesses affected by the COVID-19 pandemic that broke out in the country in February, 2020.
The enumeration exercise is being conducted in clusters across three locations in Ibadan North, Ogbomoso North and Ibadan South-West local government areas.
Farayola AbdulRasheed Adetunji, the Coordinator and Disbursement Link Indicator Lead 1 for Oyo State NG-CARES in Ibadan South-West Local Government Area, Ibadan, addressed the press on the essence of the enumeration exercise, on Monday.
He said: “The enumeration exercise is a crucial step in ensuring that the right applicants receive the necessary financial support to revitalise their businesses.”
NG-CARES is a $750 million Federal Government credit project, assisted by the World Bank, aimed at mitigating the impact of COVID-19 on poor and vulnerable groups.
Adetunji emphasised the importance of the programme, 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.”
He further explained that the programme, which was started in 2022, is a continuous effort to support affected small-scale business owners by the COVID-19 pandemic.
He noted that the NG-CARES offers operational grants ranging from 120,000 to 480,000 Naira and debt relief grants, ranging from ₦150, 000 to ₦300, 000 for those who have outstanding loans with microfinance banks or cooperatives.
The qualification process, Adetunji disclosed, started with an application, either online or at the NG-CARES office in Jericho, at the NG-CARES section of OYSIPA.
Applicants, it was stated, must submit necessary documents and, if nominated, will receive a link to upload credentials for their business and personal information.
The Coordinator and Disbursement Link Indicator Lead 1 for Oyo State NG-CARES in Ibadan South-West Local Government Area said those applying for debt relief must also provide details of their loan status and they will thereafter be invited for enumeration.
