SMEs: Ikoyi-Obalende council boss empowers 1000 women with N50m
The Ikoyi-Obalende Local Council Development Area (LCDA) in Lagos State on Tuesday disbursed N50 million grants to 1000 women to boost small businesses and promote local economy.
The Chairman of the council, Mr Fuad Atanda-Lawal, at “the Empowering Her Fortune Initiative (EHF) 2.0” held at Muson Center, Onikan, said that the event was organised in conjunction with MTN Momo, a fin-tech subsidiary of MTN Nigeria.
Atanda-Lawal, who noted that his administration had also felt pains small businesses were facing, said he had decided to work with them and to change the narrative.
He said: “In April, we intensified our efforts, empowering 400 women with N50,000 each.
“Today, we will be providing support to over 1,000 women through grants of N50,000 each also. This financial assistance is not merely symbolic.
“It is a transformative force aimed at helping their small businesses flourish, offering a lifeline during these challenging times, and paving the way for new opportunities.”
According to him, the council is equally empowering 10 outstanding beneficiaries of the April empowerment programmes with N100,000 each because of their success stories.
He said that Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) led by the Director-General, Mr Charles Odii, had also provided N100,000 each for 10 outstanding businesses in the area.
“The essence of this initiative, again, is rooted in my strong belief that denying women opportunities equals to overlooking the invaluable contributions they can offer.
“Women are multipliers. Empowering women not only transforms their lives, but also enriches the entire community.
“When we elevate women, we uplift families and stimulate economic growth within our neighborhoods.
“This initiative serves as a foundational step towards building a better eco-urbanity, to cultivate a stronger and more inclusive community.
“This initiative stands as a testament to our dedication to gender equality, economic empowerment, and community advancement.
The council boss, who also distributed 100 Point of Sales (POS) machines to women, called for a continued collaborate in empowering, uplifting, and transforming lives in the community.
The Special Guest of Honour, Sen. Wasiu Eshinokun-Sanni, representing Lagos Central Senatorial District, who commended Atanda-Lawal, said that the initiative was complementing efforts of the federal government, the state government, and the members of the National and State Assembly.
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“No doubt, N50,000 can positively impact on any nano business and go a long way in giving someone an hopeful means of livelihood if properly applied,” the federal lawmaker said.
Eshinokun-Sanni noted that he also distributed empowerment items worth N750 million recently to people of Lagos Central Senatorial District.
He said that such initiative was to provide security to the people during the current socio-economic challenges.
“I am very optimistic that if these empowerment programmes and palliatives are replicated by other public officials in Nigeria, the lives of so many will be pleasantly impacted.
“This will reduce poverty level in the country and make the effort and aspiration of President Bola Tinubu in enhancing the socioeconomic status of Nigeria a reality,” he said.
Also speaking, Mr Gbolahan Yishawu, representing Eti-Osa Constituency II at the Lagos State House of Assembly, who also applauded the council chairman for doing a lot to ease his job as the lawmaker.
Yishawu said, “the Chairman does a lot of work. He takes his leadership and representation beyond expectations. He has made us see the value and Impact not the LCDA”.
The partner, Mrs Omolara Micheal-Nwadu the Chief Financial Officer of MTN Momo, a fin-tech subsidiary of MTN Nigeria, said that the firm was also committed and dedicated to empowering women and would do more to develop SMEs to make lives better.
Also speaking, the Director-General, SMEDAN, Charles Odii, said there were approximately 40 million businesses in Nigeria, out of which 38 million were nano businesses, which the agency prioritised.
Odii, who noted that the President had committed huge sum to SMEs, saying the agency was however leverage on technologies and cooperative societies to release funds to them.
One of the beneficiaries, Miss Iyabo Adebambo, a POS agents, who commended the chairman said the grant would take her business to the “next level.”
Also, Ms Boluwatife Bello, who deals in food stuff, expressed excitement with the grant, saying, “with this money, I will move my business forward.”
The event was attended by lawmakers, traditional white cap chiefs and APC leaders like former Deputy Gov. Femi Pedro andthe Commissioner, Ministry of Youth and Social Development, Mr Mobolaji Ogunlende.”
Also present were Ms Barakat Odunuga-Bakare, Special Adviser to Governor Babajide Sanwo-Olu on Housing, Mr Tommy Akaniyene, the Chairman, Eket Local Government, Akwa Ibom among others.
