Ambode creates 4,000 fresh millionaires
By Bode Adeokun
No fewer than 4,000 millionaires have been created through the Lagos State enterprise fund aimed at helping residents in need of resources to start a new business or nurture to growth an old enterprise. Observers see this as one of the most revolutionary decisions a state government had ever taken and a practical way of making a huge difference in the lives of ordinary people.
Investigations by Irohinoodua revealed that the 4000 residents of Lagos received between 300,000 to 5,000,000 (Five million naira) as loans which conditions for repayment are liberal. Over 4,000 beneficiaries have been recorded making the scheme the most effective and decisive means of creating and circulating wealth among the people.
The project which is on-going has about 25billion naira set aside to assist focused residents who want to grow their businesses and impact on the local economy.
“I got a loan of 5million naira. I did not know anyone in the board. I sent a proposal as required. I was shocked that I was invited for an interview. After looking at my papers and the business I wanted to use the money for, they gave me a pass mark. I got an alert of 5million in an account that had not seen a million in the past 10 years. I’m now a millionaire. I will use the money very well, I’m also going to employ at least three young people who will earn a living through my venture”, Ibiam Okechuckwu told Irohinoodua today.
Another recipient, Musa Kareem from Bornu state, said he was displaced from Bornu state following the Boko Haram crisis. “I applied for the loan. I got 2 million. I’m investing the money in my agriculture business. I was surprised that I got the money because I did not lobby at all for the loan”.
Mrs Aminat Adekunle said her husband got a loan of 5 million and that since then “Our lives have changed. We have used the money to procure a fabricating machine. We are looking up to a turn over of about 10 million naira every year. Already we have employed 5 people as permanent staff, Before now, we had only one staff.”
Sources told our correspondent that the board of the Trust Fund was so strict that efforts by politicians to bring their wards as beneficiaries were rebuffed by members of the board.
“This project is a success because the yardstick was that you must present a good business plan. You must have good and verifiable plans. You must have credible guarantors. There was nothing like political party affiliation. There was nothing like religion or ethnicity. It is a project that I think other states should emulate”, Udom Emmanuel who got a loan of 5 million told Irohinoodua today. He praised the governor of Lagos State, Mr Akinwunmi Ambode describing him as “a genius” that has brought creativity into governance.

please what's the name of the site to access the loan so that I can apply as well and equally send NY business proposal. thanks