How You Can Benefit from Ogun State’s ₦1 Billion Small Business Loan Funding? Based on the report, there are two possible channels through which you may be able to benefit from Ogun State’s ₦1 billion small-business loan funding.
How You Can Benefit from Ogun State’s ₦1 Billion Small Business Loan Funding
1. Apply through a cooperative society
The Ogun State Government reportedly disbursed more than ₦500 million to cooperative societies through the Ogun State Cooperative Federation (OGSCOFED) revolving loan scheme.
What you can do:
- If you already belong to a cooperative society, ask its management whether it participates in the government-backed revolving loan scheme and whether members can currently access funding.
- If you are not a member, contact the Ogun State Cooperative Federation (OGSCOFED) to ask how to join a registered cooperative and whether new members can qualify for any available loan scheme.
Official channels:
2. Enquire about the Oko ‘Owo’ Irinse Dapo Soft Loan Initiative
The report says another ₦500 million was provided through the Oko ‘Owo’ Irinse Dapo Soft Loan Initiative to support artisans, traders and small-business owners across Ogun State’s 20 local government areas.
What you can do:
- If you are an artisan, trader or small-business owner in Ogun State, contact the state’s Ministry of Community Development and Cooperatives.
- Ask which office handles the initiative, whether applications are currently being accepted, and what documents and eligibility conditions apply.
Official channel: Ogun State Government website
Which channel should you try?
| Your situation | Where to start |
|---|---|
| You already belong to a cooperative | Ask your cooperative management about the revolving loan scheme. |
| You want to join a cooperative | Contact OGSCOFED for guidance. |
| You are a trader or artisan | Enquire about the Oko ‘Owo’ Irinse Dapo initiative. |
| You run a small business | Enquire about both schemes to find out which one you may qualify for. |
Important: The report confirms that the funds were provided or disbursed, but it does not announce a new application window or provide an official loan application form. Contact the relevant office to confirm whether you can apply now before submitting your personal details or paying anyone.
Other Loans for business owners in Ogun State you should consider
If you need business funding in Ogun State, you can explore several options beyond the government’s ₦1 billion small-business loan schemes.
The Ogun Economic Development Group (OGEDG) lists small-business grants, farmer grants and soft-loan support. Check its official website for application updates.
You can also explore the Bank of Industry (BOI), which provides financing to eligible businesses for expansion, equipment and production. Visit the MyBOI application portal to check the available financing options and check their requirements here.
Another option is SMEDAN, which runs programmes supporting micro and small businesses through grants, business development and other interventions. Visit its official programmes page to check which opportunities are accepting applications.
You can also contact the Ogun State Government through its official website to ask about current state-funded business grants and MSME support programmes.
Please note: These programmes have different eligibility requirements, and not all are necessarily accepting applications now. Confirm the current status before applying.