Senator Oluremi Tinubu To Award 13 Million Grant

Small time traders in the 13 council areas within Lagos Central Senatorial Zone are to benefit from a N13 million grant launched yesterday by the senator representing the district, Mrs. Oluremi Tinubu.

The grant is tagged, “Petty Traders Empowerment Capital Scheme (PETECS).”

Senator Tinubu said 50 traders would be given a N20, 000 non-interest facility each to invest in their businesses.

She said the scheme is a grant and not a loan.

Senator Tinubu said  petty traders are major contributors to the sustenance of the informal sector and should be encouraged.

She said the scheme is in line with the promise of the Action Congress of Nigeria (ACN) to improve the life of the people.

Senator Tinubu said the scheme is open to all residents of the district.

On the selection process, she said: “Each applicant is expected to complete an application form with two passport photographs and present a well-known sponsor/referee, who is resident in any of the Local Government Areas or the Local Council Developent Areas (LCDAs) in the zone where such business exists.

“The completed forms are to be submitted to the office of the chairman of their local government of origin through the chairman’s wife.    

“The forms should be returned on or before December 5.”

Senator Tinubu said former Commissioner for Finance Mr. Wale Edun would chair the selection committee.

Edun will be assisted by one representative from the Community Development Council (CDC),    the woman leader and the ACN chairman  in the local government area.  

Also to serve on the committee are the Iyaloja-General of markets and wife of the councils’ helmsmen.

Senator Tinubu said the list of successful beneficiaries would be made public a day before her maiden Town Hall meeting on December 18.

The fund would be managed by Skye Bank.

Senator Tinubu said the grant would encourage a savings culture and prepare beneficiaries for the proposed cashless society.

Edun said the committee would be fair to all.

http://www.thenationonlineng.net/2011/index.php/news/27110-traders-get-n13m-grant-from-senator.html

It's a welcome development at least , but all I pray and hope for is Transparency not the normal party loyalist jumbo package, sen oluremi tinubu dats a positive move,

“The completed forms are to be submitted to the office of the chairman of their local government of origin through the chairman’s wife

democracy made simple.
naija no dey carry last,

How far has she gone with her tribunal case?

jmaine:

Poli[b]tricks[/b] at play in case of a re-election . . .anyway . . .good philanthropy . .

Well at least she is not like most ACN Politicians who promise everything but the kitchen-sink before they are elected. We all know where all this is headed, at least she is doing something and not making promises. Apathy for ACN at the grassroots is very high in recent times, Traditional ACNN loyalists at the grassroots know what happens after their vote is in the bag. What the Senator is doing is PR before 2015 (Tangible PR) If she can work with some Big Corporate Sponsors with robust CSR budget, she can actually get to the people that matter and have something to show for it rather than lofty promises. I hope she becomes better than Fashola given that the looming shadow of the 1-eyed BAT on Bourdillion is her husband.

I guess it's only for Lagos indigenes yet we pay tax like everyone else.

After stealing billions she is granting 20k each to petty traders which  they will  used in settling KAI and other unscrupulous LG thugs.

Can someone kindly remind us of the exact amount senators collect per quarter in the guise of constituency funds?

emiye:

Senator Tinubu said 50 traders would be given a N20, 000 non-interest facility each to invest in their businesses.
She said the scheme is a grant and not a loan.
The fund would be managed by Skye Bank.

It is a non interest bearing facility to be managed by a commercial bank.
Are grants repayable?

its amazing how Nigerian youths think, if she doesn't do anything, she'll be criticized and when she is people will say she's doing it to buy her second term in office, na wa oo

This is not what will need, we need credit facilities that people can depend on and walk to prosperity.

Commendable. At least she still do something.

Her position demands she does better. She's the damn senator of the freaking republic,

However, a commendable effort, someone somewhere will be getting paid,

well done madam tinubu. . .bt 20k is too small na, abi na 200k?

well done madam Tinubu Mrs. Rascal

commendable! Tho it wud be politicised into an ACN party reward scheme if not well managed

People are talking like she has already given out the 20k sef, trust me she might not give out a penny at the end of the day. These people are greedy

Is it 50 traders or 50 traders per local gov council? Because if it is 50 traders that is 1 million not 13 million as the headlines suggest!

More of that!!!half good bread is better than none!!!

I hope so

High_Chief:

People are talking like she has already given out the 20k sef, trust me she might not give out a penny at the end of the day. These people are greedy

Kai naijaaaaaaaaaaaaaaaaaa

una no dey believe anything, is dat what u wuold v done ?

In as much as this is a noble gesture, access to the grant by those who really need it might be a challenge. I foresee it being shared by local government executives (party members) and their cronies. How does Skye Bank fit into this arrangement? I suppose a micro-finance institution/co-operative society will handle it better.

Huuum! A PREPARATION TO TAKE OVER FROM FASHOLA COME 2015 AS THE FIRST FEMALE GOVERNOR OF LAGOS STATE. WATCH OUT!

Pay back tym, dis is d only way 2 return d stolen funds of d state

pls can anyone tell me hw do i get the form,

pls can anyone tell me hw do i get the form,

Great move

Eko o ni ba je lai lai

Uhmmm,let me see,,,,
3 million out of the billions her so called husband stole and is still stealing from Lagos state coffers,this is a slap on petty traders and an insult on the sensibilities of other Lagosians

^^^Expect Eko Ile to come and attack you soon

this is a good initiative by Sen Mrs Tiunbu I hope others too will follow

@Jmaine,if dem no do,na una go complain. Dem do now, u say na "politrick". Kinda love ur invention sha!

Na dem-dem.