By Kazeem Akande
Mr Owolabi Adele, Chairman, Apapa Local Government Area in Lagos State has offered N20 million empowerment grant to 200 Small and Medium Enterprises (SMEs) to mark 1,250 days in office.
Adele, at the cheque presentation on Wednesday, said that five million naira was given to 100 SMEs at N50,000 each.
While N15 million loan at N150, 000 each was also given to the other 100 beneficiaries.
He said that the initiative was undertaken in partnership with the Lagos State Employment Trust Fund.
“The hallmark of today’s event is the council’s empowerment grant of N5 million for 100 SMEs at N50,000 each and N15 million loan at N150,000 each for 100 people.
“Let me assure you that we shall continue to implement policies, programmes and projects that will benefit the greatest number of people,” he said.
Adele added that the council gave cash support to some petty traders and graduating students that attended various skill acquisition programmes in the council area.
However, he urged the beneficiaries to make proper use of the grants and loans so as to prequalify for future opportunities.
“We held a similar event last year but some of the then beneficiaries are not qualified for this year’s programmes because of fund mismanagement,” he said.