The Ikoyi-Obalende Local Council Development Area of Lagos State, on Tuesday, disbursed N50m as grants to 1,000 women in the area to support their businesses.
The “Empowering Her Fortune Initiative 2.0” held at the MUSON Centre, Onikan, the News Agency of Nigeria reports.
The chairman of the council, Fuad Atanda-Lawal, said the initiative was supported by MTN Momo, the fin-tech subsidiary of MTN Nigeria, supported the initiative.
Atanda-Lawal, who noted that his administration acknowledged the challenges faced by small businesses, said the decision to give the grants was to change the narrative.
He said: “In April, we intensified our efforts, empowering 400 women with N50,000 each.
“Today, we will be providing support to over 1,000 women through grants of N50,000 each also. This financial assistance is not merely symbolic, it is a transformative force aimed at helping their small businesses flourish, offering a lifeline during these challenging times, and paving the way for new opportunities.”
According to him, the council is equally empowering 10 outstanding beneficiaries of the April empowerment programmes with N100,000, based on their success stories.
The News Agency of Nigeria reports that lawmakers, traditional white cap chiefs, former Deputy Governor, Femi Pedro, and the Commissioner for Youth and Social Development, Mobolaji Ogunlende, attended the programme.
Also present was the Special Adviser to Governor Babajide Sanwo-Olu on Housing, Barakat Odunuga-Bakare.