Senator Abiru Unveils N300Million Revolving Loan For Lagos East MSMEs Thursday

Kunle Adelabu

In fulfillment of the promise made to his constituents, Senator Tokunbo Abiru, the Senator representing the Lagos East Senatorial District, will, on Thursday, September 15, 2022, formally launch the N300Million (Three Hundred Million Naira only) Constituency Revolving Loan at 6% Interest Rate Per annum.

The scheme is part of the Senator’s business support for residents of the Lagos East Senatorial District.

In a statement released at the weekend by Enitan Olukotun, the Senator’s Special Adviser on Media & Publicity, Abiru, who is the Chairman, Senate Committee on Industries charged all Micro, Medium andSmall Enterprises (MSME) in Lagos East to apply for the N300 Million Constituency Revolving Loan.

“Recall that on 14 November, 2021, the #DoingGood Senator, in partnership with The Fate Foundation and Standard Chartered Foundation, organized a one-day MSME Clinic/Workshop for over 1,000 MSMEs drawn across 98 wards in the 16 LGAs/LCDAs in the Lagos East Senatorial District”, the statement said.

“The training, which attracted Executive Leadership of business-related regulatory agencies and partners like; BOI, SMEDAN, CAC, LIRS, NAFDAC and LSETF, greatly enhanced the capacity of MSMEs in the district.

“In addressing the dearth of knowledge which is one of the major reasons why MSMEs fail, a knowledge pack containing seven valuable books covering areas like; Financial Management, Human Capital, Legal, Strategy, Marketing and Communication, Digital Technology and Tax Management authored by reputable corporations including Deloitte, KPMG, Verraki among others, were given free of charge to all participants.

“Participants also received Enterprise Development Certificates after the training.

“It is also worth mentioning that in June 2022, he empowered about 1,250 market women and traders with the sum of N50,000 each as financial grants totalling N62.5 million to support their businesses. Hand-planters and financial grants of N20,000 were also dolled out to 200 rural farmers in the agrarian part of the district.

HOW TO APPLY:

Log on to https://www.tokunboabiru.org/app-1/lagoseastmsmeloan

OR Simply walk-in to any LSETF liaison offices within the 16 LGA/LCDAs in Lagos East with the following requirements:

1. Recent tax clearance
2. Duly registered business with CAC (For loans above N500,000)
3. NIN (National Identification Number)
4. Registered with LASRRA
5. A mobile phone with an internet subscription (Optional)
6. Bank account details
7. ATM card with at least a one-year expiry date
8. A certificate of attendance from a business workshop or training from any recognized institution or body.

LSETF Liaison Office: Ikorodu

Ikorodu Local Government Secretariat. Otunba T.O.S Benson Road Ikorodu, Lagos

LSETF Liaison Office: Epe

Epe Local Government Secretariat. Ita Marun, Epe, Lagos.

LSETF Liaison Office: Kosofe

Kosofe Local Government Secretariat. Ogudu Road, Ojota, Lagos.

LSETF Liaison Office: Somolu

Shomolu Local Government Area Office. Humuani Street, Shomolu, Lagos.

LSETF Liaison Office: Ibeju-Lekki

Ibeju Lekki Local Government Secretariat. Igando Oloja, Ibeju-Lekki Lagos.