Bayelsa govt. disburses N84 m cash grant to 420 SMEs

Nathan Tamarapreye, Yenagoa

The Bayelsa Government on Monday disbursed a cash grant of N84 million to 420 Small and Medium Scale Enterprises (SMEs) operators who hailed from the state.

It was learnt that each of the beneficiaries got a cash grant of N200,000 and, the disbursements were for June and July 2022.

Speaking at the presentation ceremony, Mrs Faith Opuene, Bayelsa, Commissioner for Women, Children Affairs and Empowerment said the gesture was born out of the need to encourage entrepreneurship amongst the people.

According to the commissioner, it is part of the government’s empowerment programme for women and youths across the state

Opuene said the SMEs were dominated by non-indigenes, hence the need to assist small business owners who hailed from Bayelsa to grow and expand their existing businesses.

The commissioner said the cash disbursement was for the months of March, April and May 2022.

She added that the gesture was in fulfilment of a pledge by Gov. Douye Diri to support 210 small business operators monthly to the end of his tenure.

“The economy of our state is not within our reach; that is because ours is a civil service state and the SMEs space is dominated by people from outside Bayelsa who drive our economy.

“As part of efforts to encourage entrepreneurship amongst Bayelsa people, our Governor approved the empowerment of one man, one woman from each of the 105 wards as part of efforts to spread prosperity amongst the people.

“Governor Diri had in the second-anniversary celebration in February 2022 directed that for the remaining part of his tenure 210 persons who are running small businesses should be supported with a cash grant of N200,000 each,” Opuene said.

She explained that the empowerment scheme was done by a seven-member committee, which had put in place, a mechanism to ensure that no beneficiary draws the cash more than once.

She said that the biometrics of the beneficiaries were being taken before the disbursement to check multiple payments and advised the beneficiaries to deploy the funds into their businesses.

She said there were plans to monitor the performance of beneficiaries and further support their businesses in various phases of development, adding that only those who grew their businesses would benefit from such future plans.

A total of 1,260 beneficiaries drawn from the 105 wards across eight local government areas have so far benefited from the scheme which commenced in February 2022