naptu2: [size=14pt]LASMI to partner financially capable microfinance banks[/size]

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March 21, 2011 | 3:53 pm

Finance

By  Amaka Abayomi

In its bid to eradicate poverty and financially empower Lagosians, the Chairman of Lagos State Microfinance Institution (LASMI), Bashorun Alabi-Macfoy, has said the Institute is willing to partner with financially capable microfinance banks, MFBs, that have good assets and customer base to achieve total self empowerment of the poor.

Speaking to Vanguard, Alabi-Macfoy said government has set aside a huge sum of money for micro lending and this would need MFBs to facilitate it.

“For 2011, we are looking at continuation with MFBs because LASMI is looking for financially capable MFBs that have good asset and customer base, particularly those that are good at group or cooperative lending to partner with.

“To this end, we have sent out our monitoring officers to watch their activities and visit their customers to see how they are performing because these would serve as pointers for us to know how to deal with them this year. But we would mainly deal with MFBs that concentrate on group rather than individual lending because the group pressure would force all the members not to default on payment.”

Alabi-Macfoy said government, through LASMI, has been doing a lot to eradicate poverty and 250,000 people were empowered in 2010.

[b]“In 2010, we extended our activities to the taxi cab operators who needed micro_funding because they get people to buy used vehicles for them and they deliver an agreed amount daily. At the end, they are poorer and the vehicles don’t belong to them.

“Government to come up with a programme to partner with the taxi operators through the driver-owner scheme and at the same time, put new taxis on the road that would suite the mega city programme of the state government.

“We went into agreement with some commercial banks for loan facilities and First Bank gave about N350 million for the purchase of 150 taxi cabs which we paid equity contribution on. The operators were registered through the Ministry of Transport and were asked to repay the loans monthly.

We charge them 12 per cent which is far lower than the 22 per cent First Bank charged us. Also, LASMI single-handedly purchased 100 taxi cabs at the cost of N270 million and they are to repay the loan over 3 years.

“The second major project was the Agric-YES programme, which is a youth empowerment scheme in agriculture in Epe, Lagos and N500m loans have been given through the Agric-YES project. There, young school leavers and graduates are trained in farming, poultry and fishing and it is affiliated to the University of Agriculture, Israel.

“Some Israeli and Nigerian agriculturist teach them and some of the best students among the first 100 that started the programme were given scholarship to Israel for further studies.

“Government did this for them to be able to produce enough food for sale and to groom young farmers. After the training, they form themselves into cooperatives and government gives them land and loans to buy the equipment that they will need.”[/b]

Alabi-Macfoy said because the state government wants to ensure that as much people benefit from these revolving loans, LASMI intends to increase the number of beneficiaries through its partnership with MFBs.

Though the state chairman of the National Association of Microfinance Bank, Mr. Olufemi Babajide, said they have received 183 applications from MFBs that want to partner with LASMI, Alabi_Macfoy said LASMI is capable of working with as much MFBs as possible, though the institute has not received any application.

“Though we have not received any application from the state executives, but government has set aside a huge amount of money for micro lending. But we would mainly deal with MFBs that concentrate on group rather than individual lending because the group pressure would force all the members not to default on payment.

“That said, our lending process is in two stages. First, applications are made here and management would review the financials of the MFBs and make recommendations which would be passed to the Board. From there, they are sent to the Investment Committee of the Board which again reviews them and recommends those we would partner with and how much would be committed based on their financials.

“The second stage is seeking the governor’s approval for the release of fund. But we would try as much as possible to first consider those operating in rural areas.”

He urged MFBs to employ the use of biometric system of identification of customers to mitigate the occurrence of bad debts.

“The major reason for the huge bad debt they face is that they rushed into microfinancing without doing thorough customer identification and this is the cause of the bad loans. Most times, they do not go to where their customers conduct their businesses to know if they are doing what they said they do.

“Another factor is the high level of poverty in the land and the lenient collateral on MFB loans which made most people to take advantage of the situation and disappeared with their money. Even their staffs are not left out as some of them disappear with customers’ money

“So, for them to overcome the issue of bad loans, they need to instill proper corporate governance by ensuring that their staffs take their supervisory roles serious. They should also avoid the temptation of going for big offices, flashy cars and the likes.

“That is why we are looking for MFBs that concentrate on group lending because the members know each other and would urge the other person to pay up to enable them apply for another loan. For instance, the Agric-YES loans are given to groups of farmers and are insured by the Agricultural Cooperative Bank, which was set up by government.

“Despite the fact that government trains and makes money available to them, they are required to register as cooperatives and the money given to them is supervised by those who train them in the farm.

http://www.vanguardngr.com/2011/03/lasmi-to-partner-financially-capable-microfinance-banks/

naptu2: Through the LASMI cabs scheme, taxi drivers are able to lease and own brand new taxis. Governor Fashola launching the LASMI cabs scheme.

naptu2: Students of the skills acquisition centres make the costumes that are used for the annual Lagos Carnival, while sponsors of the carnival bear the cost (participants in the carnival are given the costumes for free).

Upon graduation they are given interest free loans by the Lagos Micro-Finance Institution (LASMI).

naptu2: Do you know that Lagos State has acquired farmland in Ogun State and is in discussions with Kogi and other states to acquire more farmland in those areas? Do you know why it is doing this? That's the story of the YES Agricultural Empowerment Scheme for unemployed school leavers and others.

Programmes like these are not as sexy as cable stayed bridge and Eko Atlantic City, so they don't get as much column inches in the newspapers.

GARRI (x7):
[size=14pt]Lagos acquires 50 hectares of land in Abuja, and Ogun to cultivate food[/size]

The Governor of Lagos State, Mr Babatunde Fashola (SAN) has revealed that the state government has acquired about 50 hectares of land in Abuja and neighbouring Ogun State for cultivation of food to support its agriculture and job-creation scheme.

Fashola made this known on Wednesday while he was speaking about the state government’s agricultural scheme as he was presenting the states 2013 budget estimated at N497.277billion to the State House of assembly.

Admitting the challenge of limited land in the coastal city, the governor stated that “due to the limited amount of land the State has to cultivate, the administration is pursuing a radical alternative of acquiring land for farming outside Lagos.”

According to the Governor, “the administration has already secured 50 hectares in Abuja, and Ogun State which is four times bigger than Lagos in land size for cultivation.” He added that “other States such as Bauchi, Osun, Ekiti, Oyo and Katsina are favourably considering the State’s requests for farm lands.”

The administration is also cultivating 75 hectares of land for rice under its Rice for Jobs programme while the irrigation project to improve, yield and produce rice per hectare is progressing positively in Badagry.

Reeling out his administration’s further achievement in the agricultural sector, the governor stated that the 500 hectares of land was recently allocated for rice farming to feed the Imota Rice mill just as his administration has successfully completed the Imota Rice Mill in Ikorodu, the Erikorodo Feed Mill, the Erikorodo Chicken Processing Plant, also in Ikorodu and revitalized Ikorodu Fish Farm Estate.

The governor added that in Epe, the Agric Youth Empowerment Scheme is progressing with the training of a new batch of 200 graduates for whom the Executive Council recently approved the release of N500M that will be given to them shortly along with one hectare of land per farmer to enable them start formal production.

www.channelstv.com/home/2012/10/31/lagos-acquires-50-hectares-of-land-in-abuja-and-ogun-to-cultivate-food/?utm_source=&utm_medium=twitter

miqos02: The Ogun State Government on Wednesday allocated 500 hectares of land to the Lagos State Government for agricultural purposes.

The government said this in a statement jointly signed by the governors of Ogun and Lagos states, Ibikunle Amosun and Babatunde Fashola, at the end of a meeting between the two states.

The meeting which lasted about one hour was held at the Government House, Oke-Igbein, Abeokuta.

The statement added that the land in Eggua, Yewa North Local Government Area would be used for agricultural development.

It also said the letter of allocation for the land was presented to Fashola during the meeting.

Amosun also handed over Certificate of Occupancy of Iju Water Works to Fashola during the meeting.

The statement reads in part, “The request for agricultural land by Lagos State Government has been granted and a letter of allocation in respect of 500 hectares in Eggua (Yewa North) was presented by Amosun to Fashola.

“The Certificate of Occupancy (CofO) in respect of Iju Water Works was also handed over to the Lagos State Governor, while re-connaissance of Adiyan Water Works land area is ongoing.”

The two governors re-affirmed their committment towards regional integration of the South-West.

src: http://www.punchng.com/news/amosun-fashola-meet-over-boundary-dispute/

naptu2: Now the question is, do these skills acquisition centres, farms, loan schemes, etc produce successes? I'll show you a success story.

[size=14pt]Street-Kid Turned Vulcanizer Makes N5,000 Daily.[/size]

by berem(f): 12:01pm On May 29

About 13 years ago, Samuel Tanimola ran away from home in Ifo, Ogun State, at the age of 10 years. He came to Lagos and settled down in Dopemu area of the state.

Tanimola, who is now a vulcaniser, told our correspondent that he was fed up with the living condition at home.

However, things were not as easy as he had hoped. He had no friend and knew nobody in the new place he found himself, yet he had to feed.

Tanimola joined hordes of street children roaming the streets and feeding through the use of their wits until he was eventually arrested by the Environmental Task force on Special Offences in 2004.

He said, "I ran away because I was not happy at home; it was a polygamous setting and my mum was not living with us.

"Although things were tough on the street, it was better than home. I even tried to escape when the police raided Dopemu that day. They grabbed as many of us as they could lay hands on and took us to the remand home at Oregun. I was so scared that I imagined the worst."

For two years, Tanimola remained at the Oregun Juvenile Centre under close supervision without any contact with the outside world.

Then in March 2006, Tanimola was transferred to the Correctional Centre for Senior Boys, Isheri, where he stayed another three years.

He said, "The centre at Isheri was much better than the one in Oregun. We were allowed to go out and then return to the centre. But at Oregun, we could not go out. It was while I was staying at Isheri that I decided to learn a trade and become a vulcanizer. I have no interest in school."

PUNCH Metro learnt that Tanimola was reunited with his family in 2009. His father did not, however, return to the centre after his first visit until November 2010, when his son was formally empowered to become self reliant.

Now 23 years, Tanimola plies his trade at the Vehicle Inspection Office at Ojodu, a place which he secured through the efforts of a permanent secretary at the Lagos State Ministry of Youths, Sports and Social Development.

He said, "I have moved out of the centre; I now live at Akute. Business is good; there are just two of us here. On a good day, I make as much as N5,000; sometimes N3,000, and on some days, nothing at all.

"On the whole, I can take care of myself. I used to think that it was over for me but now I am happy."

The Special Adviser to Lagos State Governor on Youths, Sports and Social Development, Dr. Enitan Badru, said, "About 10 to 20 children come into our correctional centres monthly- most of them minors, caught roaming the streets or even committing crimes. Those caught committing crimes, usually face the justice system.

"These children often run away from home or were brought to Lagos by relatives. Others, fed up with life in the village, heard of a place called Lagos and got into a bus to come here, sleeping under the bridges and motor parks.

"When these children are brought in, we try to trace their families and reunite them. When we are not able to do that, we go to the courts and secure the right to keep the child and find the best means to help the child live a fulfilled life."

He said Tanimola was an example of the fact that street children could be made to become useful citizens with love and patience.


http://mobile.punchng.com/output.php?link=http://www.punchng.com/metro/i-make-n5000-daily-street-kid-turned-vulcaniser/

[size=14pt]Fashola visits Remand Home, Skills Acquisition Centre.[/size]

We've Provided A Better Option To Begging - Fashola

…Says everyone has an opportunity to contribute to the economy as he visits Remand Home, Skills Acquisition Centre

Feb 14, 2013

Lagos State Governor, Mr Babatunde Fashola (SAN) on Thursday paid a visit to the Eko Transport Company in Oshodi and the State Remand Home and Skill Acquisition Centre, Isheri, stating that for the State government, nothing is impossible to achieve.

The Governor who spoke in an interview with State House Correspondents at the Isheri Remand Home and Skills Acquisition Centre after the visit based his assertion on the successes recorded at the various vocational units including the Welding and the Electrical Pole Fabrication Department which has become a major production centre for the state's public street lighting poles and traffic light poles.

He also said the Wood Work Centre is where a lot of the State's School furniture and stuff are being made currently, adding that the major supply of the boots for Lagos State Traffic Management Authority and Neighbourhood Watch are being made at the Footwear Centre,

"We have been to the Refrigeration Unit, the Centre where they teach them basic refrigeration, maintenance, operational and management skills. We also saw the Centre where the young ladies were making foot mats, dresses and all of that. They would move on as they finish to the African Growth Opportunities Act Centre (AGOA) in collaboration with the US Government where they can begin to export some of their work", the Governor said.

Continuing, Governor Fashola explained how the centre plays a key role in developing skilled manpower even from among the indigent: "Clearly they are products of our technical colleges and also destitutes and people with drug problems taken through rehabilitation and introduced to the Centres to learn a skill and go back and become useful members of the society".

"So, when we say people should not beg on the streets, we mean it. The reason is that begging is not an option here, everybody must contribute to this economy. So those with drug problems or who are ill have the choice to go to our remand homes, where we feed them, rehabilitate them and treat them".

"So we have provided a choice and there is a law against street begging and we will enforce that law. The evidence of what that choice is has been demonstrated here. People have moved on to become very useful members of society", Governor Fashola explained.

naptu2:
The reason why nobody has been able to sue is simply because nobody has been deported.

People who violate environmental sanitation laws are given 4 options (previously they were given 3 options).

1) Go to a rehabilitation centre

2) Go to jail.

3) Repatriation/re-integration

4) Community service.

ndu_chucks: No one doubts the goodness in many of the Fashola's policies. Selling the so-called repatriation of "beggars" as some sort of family reunification is to say the least dishonest, and possibly criminal.




Sir many of those who were deported to the East did not choose to be deported, they were forcibly deported and accosted with armed guards. This act is criminalto say the least

manny4life:

Alj Ndu_chuks,

This one that you said the truth, are we safe?

2mch: Beggars wanted a ride home and they got it. How is that deportation. Why are other states complaining. Use your money wisely and your people will stay at home. Lagos cannot carry the burden of other governors who misappropriate state money.

baby_123: ^^^
Yoruba's have been taken back home as well. SO why all this noise? What are mentally ill people and beggars doing far away from home. At most, they should cue in front of aso rock. Not be running around dangerously on lagos express ways.

iphy42:



Any proof that Yorubas were taken back home? How is a mentally Ill person able to state his place of origin. Pls let us be objective.
This is still one Nigeria and until we divide every citizen is free to reside anywhere, mentally Ill or not.

yemi2plus2: Let it be noted that at the risk of sounding platitudinously humdrum,we have asseverated for the upteenth time, that the convocation of a sovereign national conference for purposesof interrogating the odoriferous vaudeville of our national jeremiad, remains the only potentand efficaciously utilitarian paspartou out of our cascading national sirocco but alas,disdain complacency to say the least and at best Olympian pococuranteismand the tedium of prescriptive poco a poco is what we have been greeted with by intellectual philistines,hig h priests of a prebendal state and their opprobrious agents...LOOK AM NOW?If this is indeed true,many more may follow and this deposits me in a state of heebie jeebies.

iphy42: God is the ultimate judge. You deported grown men who said they were from Ebonyi state to Anambra now you come here to twist and turn things to your favour.

BTW Seun, this tribalism that Nairaland is promoting should STOP. You should use Nairaland to promote peace and unity as a patriotic citizen and not insult and degredate other tribes.

Rule number 3 should be followed to the letter.

naptu2: Some even choose employment in state agencies such as LASTMA and KAI.