The Ekiti State Government has initiated the second phase of disbursement, allocating over N400 million to 922 Micro and Small Enterprises (MSEs) spread across the state’s 16 Local Government Areas.
The disbursement aims to alleviate financial constraints exacerbated by the COVID-19 pandemic, as part of the Ekiti State COVID-19 Action Recovery and Economic Stimulus (EK-CARES) program.
Mrs Tayo Adeola, the state commissioner for Industry, Trade, and Investment, announced the commencement of the disbursement in Ado Ekiti.
She highlighted that Governor Biodun Oyebanji approved the allocation to qualified MSEs to bolster economic growth in the state.
Adeola outlined that the disbursement would benefit various businesses under different categories, including credit grants, operation grants, and Information Technology enhancement grants.
She emphasized the significance of empowering MSEs for economic growth and poverty alleviation, expecting the grants to facilitate business expansion, job creation, and overall economic development.
The commissioner urged beneficiaries to utilize the grants judiciously for their intended purposes.
She reiterated Governor Oyebanji’s commitment to fostering a conducive business environment and supporting local enterprises to achieve shared prosperity and poverty eradication goals.
”The program is part of the governor’s initiatives to enhance citizens’ living standards and eradicate poverty in Ekiti State,” she stated.
Meanwhile, the Ekiti government recently announced the creation of a State Electricity Regulatory Bureau to supervise electricity-related issues and guarantee standards in the state’s various market segments.
This comes about as a result of the Ekiti State Electricity Power Sector Act of 2023 being signed into law by Governor Oyebanji in October 2023.
A government statement issued in Ado-Ekiti stated that the Bureau will act as the highest authority on electrical regulation in the state.