By Vera Anyagafu
Lagos state Eko Cares has empowered about 217 indigent residents with the sum of N20,000 (Twenty thousand naira) each to invest in economic activities that would guarantee a quick turnover.
The 217 beneficiaries are part of the 2,000 individuals earmarked for the first phase of the initiative and will be guided on investing in fast-moving consumer goods to generate quick turn-over on their funds and plough such back into the business for higher turn-over
This new set of beneficiaries emerged under the social inclusion programme initiative of the Lagos state government, created basically to empower indigent members of the society for economic independence and self-sufficiency.
The state’s Special Adviser to governor Babajide Sanwo-Olu on Civic Engagement, Princess Aderemi Adebowale, during the disbursement of the funds to the 217 beneficiaries at the Adeyemi-Bero Auditorium, Secretariat, Alausa,, said that the programme, tagged ‘EKO CARES’, is aimed at actualising the Greater Lagos project of Governor Babajide Sanwo-Olu’s administration.
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Princess Aderemi explained that the social inclusion programme, which is designed as a form of financial assistance to beneficiaries from all the Local Governments and Local Council Development Areas across the State, will grant each beneficiary the sum of N20, 000 to invest in economic activities that would guarantee a quick turnover.
The beneficiaries, are part of the 2,000 individuals earmarked for the first phase of the initiative and will be guided on investing in fast-moving consumer goods so that they could generate quick turn-over on their funds and plough such back into the business for higher turn-over, she further explained.
However, the exercise, is being supervised by her office and is expected to stimulate micro-economic activities, promote a sense of belonging, reduce tension in the communities and enhance self-reliance.
Also, the beneficiaries would be exposed to business and investment opportunities requiring minimal start-up capital.
Consequently, many companies producing fast-moving consumer product’s have keyed into the programme.
In line with the aforementioned, beneficiaries were advised not to abuse the privilege, as successful participants will benefit more from mentorship from partners, who would closely monitor each beneficiary and give progress reports and recommendations for further empowerment funds from the government.
Beneficiaries in turn, applauded the empowerment initiative from the state government and promised funds would be put into good use and for the specified purpose.