By Linus Akomolafe
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has empowered 100 women and youths in Lagos with a sum of N100m grant to boost Micro, Small & Medium Enterprises.
The empowerment, facilitated by a member of the House of Representatives representing Oshodi/Isolo2 Federal Constituency, Hon Ganiyu Johnson had women and youths drawn from various wards, tribes across the constituency to receive the funds.
SMEDAN in Collaboration with MICROVIS MICROFINANCE BANK transferred the funds to the beneficiaries accounts at HillCrest event center by Ago Palace Way, Okota, Lagos on Tuesday.
Speaking at the event, the representative of SMEDAN, Mr. Olaiya Olagoke said the sole mandate and responsibility of the agency as contained in the enabling 2003 Act of the Federal Republic Of Nigeria is to Stimulate, monitor and coordinate the development of the MSMEs sub-sector in Nigeria while urging beneficiaries to invest the funds in their businesses.
He said: “the 100 beneficiaries should not look at this money as free money. It won’t be nice to see your faces worse than this next time we meet. Please let us make use of the funds to expand our business. Use the money wisely.”
One of the beneficiaries, Mrs. Mary Adebawo, a trader said she has been facing difficulties in purchasing goods and hoped that this would change the mode of her operations.Mary said: ” I sell provisions and what I normally do is to buy goods on credit from wholesalers and pay for the goods after sales. Sometimes I am unable to pay back. But what I plan to do now is to acquire with my money and sell with no fear of paying anyone back when sales reduces.”
While speaking on the selection process for beneficiaries, Hon Ganiyu said, it encompases traders, youths and different tribes in the region, appealing to them to avoid the urge to spend the funds on Christmas and new year celebration.
“ I want to congratulate the beneficiaries of this prog who have been meritoriously selected among numerous constituents of Oshodi/Isolo Federal Constituency 2. It is not wise to use the money for Christmas or new year celebrations. It is required of you to invest this money in whatever you are into so that your business will have a facelift in 2023. I have designed this programme to give financial support to our SMES which will automatically accelerate the economic growth of Oshodi /Isolo after the strike of COVID-19 pandemic” he said.
Reeling out plans to tackle environmental challenges among host communities of airport in the state in 2022, Ganiyu stated that he has sponsored a bill to amend the Federal Airport Authority of Nigeria (FAAN) act CAP F5 to allow airports authorities capture Ejigbo, Ikeja, Isolo and Alimosho in their Corporate Social Responsibilities plan.
“I have been able to sponsor a bill for an act to amend the FAAN act CAPF5 to empower the authorities to recognise the environmental challenge facing all the communities around Nigeria airport, therefore engaging and involving the communities in their development plan. We are asking FAAN to empower communities around Ejigbo, Isolo, Ikeja and Alimosho in Lagos. We are hoping that Mr. President passed it. That would mean that you will be considered for CSR and engagement,” he said.
He also added that expansion of Isolo/Mushin road from Oke Afa to Lagos State Polytechnic would commence. Noting that a two-lane road network on both sides of the road has been drawn and work would commence after the year’s budget proposal.
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