The Ikoyi-Obalende Local Council Development Area (LCDA) of Lagos State has empowered 1,020 residents of the area with grants to start and grow businesses of their own.
The empowerment programme tagged: “Business Empowerment Initiative,” the fourth in the series, was held on Monday on the premises of the Lagos State Waterways Authority (LASWA), Falomo, Lagos.
The LCDA Chairman, Hon. Fuad Atanda-Lawal, said this year’s edition of the initiative was more impactful because of the number of beneficiaries as well as the endowment amounts-Some beneficiaries received grants of up to N100,000 to boost their businesses.
Atanda-Lawal said the empowerment would take the businesses of the 1,020 residents of Ikoyi-Obalende LCDA to the next level.
He said: “This initiative is designed to ensure that we do our part in achieving Article 8 of the Sustainable Development Goals.”
The chairman also reiterated the commitment of his administration to raise the standard of living of all residents of Ikoyi-Obalende LCDA.
Atanda-Lawal noted that a significant number of people had fallen into despair over the years as economic growth slowed; and unfortunately these individuals had no recourse to any form of help that could return them to a position to grow their businesses.
He added: “The council has identified some of them and has made it priority to bring such out of the dark place and help them see the light of hope, which will in turn bring improvement as the days go by.”