Lagos brings hope to the poor, distributes loans to entrepreneur
By Ayodele Obisesan
The Lagos State Government, (LASG) this morning made good its promise when it gave out funds to assist artisans and entrepreneur in the bid to help low income ventures to grow and flourish their business concerns.
Irohinoodua was informed that the presentation of cheque to beneficiaries was the second time in two months that the State government would be giving out cheques to applicants for the scheme.
The initiative is part of the N25billion naira earmarked by the state government in the Lagos Trust Fund. The target is to reduce poverty and provide more jobs for people in the lowest scheme of the economic ladder.
Presenting the cheque to hundreds of beneficiaries today, the Lagos State Governor, Mr Akinwumi Ambode said his government will continue to provide opportunities for people in Lagos to create a positive change in their economic lives. Under the scheme, applicants are provided with between N300,000 to N5,000,000 million naira with favorable pay back conditions.
No fewer than 1000 beneficiaries attended today’s ceremony which held at Alausa, Ikeja.
A state official told Irohinoodua that the project targets now fewer than 1000 residents of Lagos in the pilot scheme.
“Today is an historic day in the annals of Lagos State. We are reaching out to the people in a unique way. This scheme targets people in Lagos. What we have is a pilot scheme. We are looking at thousands of beneficiaries,” the official said. However there was a mild drama when some of the participants threatened to disrupt the proceedings after over 20 names were read with only 4 of them being of Yoruba extraction.
He said the scheme was transparent without political considerations. “The money is being given without consideration for political leanings or creed. We look at the business plan and on that basis we give out money to the best among all the applicants”, the official told Irohinoodua.