Kunle ADELABU and Seun AJAYI
-Facilitates N20million interest-free loan for constituents’ businesses
-Supports 75 widows’ businesses
Various groups, traders and business men and women in Ikorodu Constituency I, on Wednesday, August 29, 2018, have their capacities boosted with loans and materials by Hon. S.O B. Agunbiade, the Majority Leader of the Lagos State House of Assembly during his Mega Empowerment/Official Account of Stewardship ceremony.
The lawmaker, who also represents the people of Ikorodu Constituency I in the State House of Assembly, equally empowered traders, widows, commercial motorists and motorcyclists and party members at the event which was held at the Ikorodu Town hall.
While speaking at the event,Hon. Agunbiade stated that:
“Today is not only about giving account of stewardship, another reason we are present here is to assist our market men and women by granting them interest-free loan, capacity enhancement to transporters and motorcycle riders, strengthening the three local government areas and seventeen wards in the Constituency.
“We are also to support our widows with money to start or support their businesses. It’s our duty to help them live a fulfilled life.
“About a week ago, these widows were trained by professionals dealing with women issue. Our aim is to see them become independent and the only way to achieve that is by giving them help.
“We are also helping members of the National Union of Road Transport Workers (NURTW), Road Transport Employers Association of Nigeria (RTEAN) and motorcycle riders, popularly called ‘okada’ riders, to build their capacities.
“What we are giving them is what they have requested for and which they said would go a long way in improving their businesses”.
Hon. Agunbiade also stated that he has secured loan from the Lagos State Employment Trust Fund (LSETF), with the interest paid by him, to support small and medium scale businesses.
“The Lagos State Employment Trust Fund (LSETF) granted us 20 Million Naira and I have paid the interest on the loan”.
“We are providing the market women and men with N10million for them to use in increasing their business capitals. They are not to pay any interest which we have paid to the government agency. We are tecahing them how to catch fish and not offering them fish.
“We are given them N10million because they always paid back. This is the eighth edition of our loan facilities for market men and women in Ikorodu Constituency I and the marketers never default. This is what encouraged us to approach the LSETF to get them the loan.
“We are also providing N5million naira loan to the members of the Lagos State Council of Tradesmen and Artisans (LASCOTA) to assist their businesses. This is the second time the loan is being given to them and they too have not defaulted.
He added that he was also providing N1million interest-free loan each to Arewa community, Igbo community, Muslim community and Christian Association of Nigeria (CAN) who had approached him to assist their members with money to support their businesses.
The lawmaker also announced that he was providing some Community Development Associations (CDAs) with grants to support their projects.
According to him, each of the benefitting community associations were asked to pick a project which the lawmaker would provide half of the sum while the associations would also provide the remaining half as counterpart funding.
Benefitting communities were picked via raffle draws during the feedback event.
He also supported the Secretariats of the All Progressives Congress (APC) in the 3 Local Government Areas and the 17 wards in Constituency I with a modern public address system each.
While speaking with our reporter, Mr Rahman Akinwunmi, the Director of Finance and Corporate Services of the Lagos State Employment Trust Fund (LSTEF), stated that part of the functions of the agency is to give loan to people that are truly in need.
“Part of the things we do is to give loan to people that are really in need of it and because we know that people do not have access to loan and even when they do, they realize that the collateral being demanded is always out of their reach.
“In our own case, we usually partner with people that have sponsors to provide counterpart funding. This is our arrangement in helping people and that is what is happening here today.
“What Hon. Agunbiade is doing is very laudable. He has given us N10million and we are adding our own counterpart funding of N10million to make N20million available for the people in his constituency. In actual fact, he has also paid our interest.
“The beneficiaries are going through screening after which they would be given the loan for a period of one year which is a very good thing”.
