The Chairman of Iru-Victoria Island Local Council Development Area, Aminat Oluwakemi Alabi, has empowered 200 petty traders and artisans with a total sum of ₦50 million under the council’s mega cash empowerment programme.
Each beneficiary received ₦250,000 to support and expand their businesses.
This represents an increase from the ₦50,000 given to beneficiaries during a similar exercise in November last year.
Speaking at the event, chairman said the beneficiaries were selected without external influence or bias.
She urged them to utilise the funds judiciously to grow their businesses and improve their livelihoods.
Some of the beneficiaries expressed gratitude to the council chairman, saying the financial support would help expand their businesses and provide for their families.
In his remarks, the APC Chairman in the local government, Ezekiel Agbohinu, urged Alabi to sustain the initiative and continue serving residents irrespective of their political affiliations.
Also speaking, a former chairman of the LCDA, Princess Rasheedat Abiodun Adu, advised beneficiaries who do not already have businesses to conduct proper feasibility studies before investing the money to ensure its judicious use.
The APC Vice Chairman in Lagos State, Muyideen Abayomi Daramola, described the programme as an offshoot of the policies of the Bola Tinubu administration, which he said had revamped the economy and made more funds available to subnational governments.
Daramola, however, expressed concern that empowerment programmes introduced by governments at different levels often fail to achieve their objectives because of what he described as the insincerity of some beneficiaries.
He dismissed the perception that government is insensitive to the plight of the people, arguing that such views do not reflect the efforts being made through various interventions.
He urged residents to make proper use of empowerment opportunities by investing in viable businesses, saying such initiatives could promote financial independence and enable beneficiaries to contribute to the national economy.
Arobadade also praised President Bola Tinubu for the foundations he laid during his tenure as Lagos State governor, saying his foresight had positioned the state for continued development.
