Lagos State Governor, Mr. Babajide Sanwo-Olu has presented the sum of N40 million grant as start up capital for businesses to assist 2, 000 residents, mainly youths and women.
According to IgbereTV reports, the presentation was made in a ceremony organised by Office of the Civic Engagement, as part of activities for the “Civic Week, “ held at LTV Ground, Agindigbi, Ikeja.
In the ceremony, Governor Sanwo-Olu explained that the grant was mainly to assist the beneficiaries who are entrepreneurs to improve the status of their businesses towards earning more profits and making them self reliant.
Princess Aderemi Adebowale, Special Adviser to the Governor on Civic Engagement, also explained that the grant was part of the activities lined up for this year Civic Week designed by the Lagos State government through her office to engage residents, alongside the ‘Sanwo-Olu Cares’ initiative, a program to cater for the less-privileged.
She said: “Beneficiaries of the social welfare inclusive initiative would be encouraged to invest 50 per cent of the grant received in a small-scale business. The office of Civic Engagement has partnered with some companies to assist our citizens to actualize these goals by planning and monitoring the growth of their small-scale business.” Adebowale added.
She said that the event also serves as a means of inculcating social values in children and youths.
She said, “We aim at building a people-centered Lagos by adopting a variety of engaging activities as a channel to inspire individuals to be active participants in the process of nation-building. Engaging citizens remains our ultimate goal. We can only improve Lagos through our collective effort.”
The selected beneficiaries, received the sum of N20,000 each from the State Government to help them expand their business.
