Lagos State Government has assured small-scale business entrepreneurs of its commitment to providing an enabling environment to grow their businesses.
Giving the assurance at the presentation of cash grants to 1,020 beneficiaries of the Ikoyi-Obalende Local Council Development Area Business Empowerment Grant, the State Deputy Governor, Dr. Kadri Obafemi Hamzat said the State Government would continue to provide assistance to business men and women in the State as a strategy to reduce poverty.
While commending the Chairman of Ikoyi-Obalende Local Council Development Area for the initiative, Dr. Hamzat disclosed that the State Government will continue to come up with initiatives aimed at enhancing the wellbeing of Lagosians.
Maintaining that the amount of money some people think is small had helped to move a lot of people away from poverty, the Deputy Governor noted that the initiative was to empower people at the grassroots to grow their various businesses and to make them self-dependent.
Hamzat urged the beneficiaries to make judicious use of the grant as usage will determine their ability to get additional grants to boost their businesses, emphasising the need for a database that “will help to monitor those that are empowered in order to encourage them to use the money judiciously”.
In his address, the Chairman of Ikoyi-Obalende Local Council Development Area, Mr. Fuad Atanda-Lawal explained that the programme was initiated to provide grants ranging between N10, 000 and N100, 000 to residents of the council to support the entrepreneurial growth of the area.
He added that the programme also aims at encouraging hardworking and resilient entrepreneurs in the LCDA to alleviate their challenges and bring smiles to many faces in line with the promises of his administration.
The Chairman emphasised that micro, small and medium enterprises are important contributors to job creation and economic development, thereby playing a major role in most economies by contributing to the GDP, especially in developing countries.