The Ogun State Government has advised small business owners to make transparency their watchword in their bid to accesing grants and loans to grow their economic activities. 

It also urged the small scale business operators to maximize the various financial opportunities which the State government in collaboration with Federal Government and other development partners have provided for the benefits of Medium, Small and Micro Enterprises (MSMEs) in the State. 

These admonitions were given by the Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela while delivering a keynote address at the hybrid quarterly MSMEs stakeholders engagement meeting, tagged, "Empowering MSMEs for innovation, sustainability and inclusive growth in a resilient Ogun State," held in Abeokuta. 

Sofela who was joined by the Special Adviser to the Governor on Information Communication Technology, Mr. Dayo Abiodun and Senior Special Assistant to the Governor on Industry, Trade and Investment, Mr. Sunday Oyesanya said that the Prince Dapo Abiodun-led government would not relent on issues militating against business growth, noting that the present administration will continue to provide an enabling environment for businesses to thrive in order to maintain its status as the industrial capital of Nigeria.

The Commissioner who said that government was not only interested in the growth of big industries, maintained that the well-being of small businesses remained paramout to the Abiodun led administration. 

Adding that the State government had made numerous financial opportunities available for business growth at the State level and in collaboration with the Federal Government, he pointed out that "Okowo Dapo," Nano Grants, OG-Cares Grants, Federal Government grant for manufacturers, Bank of Industry (BOI) loans which are at single interest rate, among others,were available for businesses.

The Commissioner was displeased with the incidence of failure to repay loans granted by the government or development partners in the past, the action, which he said denied others access to the funding sources.

According to him, as a forward looking government, our efforts on the availability of industrial clusters across the three senatorial districts of Ogun State would help sustain our status as the industrial capital of Nigeria. 

"We will constantly engage the Federal Government in the areas of mutual collaborations. We have also been engaging at the local, State and Federal levels respectively on tax harmonization to address the incidence of multiple taxation.

"Government intervention should not be taken as a national cake. When you default, you break the chain and you prevent others from accessing the same opportunities," he said. 

In her welcome address, the Special Adviser to the Governor on Industry, Trade and Investment, Mrs. Oluyemisi Somorin- Dawodu who joined virtually, appreciated stakeholders for their support for government's policies, just as she assured the present administration will work to ensure that businesses within the State continue to thrive and innovate. 

The meeting had an array of stakeholders in attendance including the representatives of the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), Federal Competition and Consumer Protection Commission ( FCCPC), Standards Organisation of Nigeria (SON), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Nigerian Export Promotion Council (NEPC), GFA Technology, German Agency for International Cooperation (GIZ).

Others included Bank of Industry, Raw Materials Research and Development Center (RMRDC), Technology Incubation Center (TIC), trade associations and other line Ministries.