Lagos Commissioner Empowers 100 residents through Loan Facility

The Lagos State Commissioner for Tourism, Arts & Culture, Pharm (Mrs) Uzamat Akinbile-Yussuf, has empowered no fewer than 100 residents in Alimosho Federal Constituency through a financial loan facility.

This is the third in series of the Commissioner’s empowerment programs which are earmarked for her constituency in the year 2020.

She had hitherto empowered youths of her constituency by unleashing their potential via leadership training and also convened a community engagement stakeholders meeting to intimate the residents of the Federal Constituency about the T.H.E.ME.S. agenda of this administration and area of collaboration with government agencies early this year.
The Commissioner disclosed that the residents of her constituency are sole beneficiaries of this loan facility.

According to her, “This loan is interest-free with three (3) months moratorium before repayment and the beneficiaries are residents in Alimosho that are desperate need of little amount of capital to start-up or support their business”.

The Commissioner said,” The act of giving back to the society especially through empowering the less privileged is part of my callings which I dare cherish a lot. This time around, about 100 residents would be the beneficiaries after successful verification of their credentials and confused that they are in dire need of the Fund”.

She noted that this will further complement the efforts of the present government to cushion the effect of Covid-19 on their businesses which has significantly affected all sectors of the economy globally.
The Commissioner stated that the loan facility is without collateral, but it is expedient on the borrowers to pay promptly as at when due.

“Though this loan is without any collateral. However, we expect the borrowers to pay back according to the terms and conditions agreed with the handlers so that other people can equally benefit in the nearest future.”, she added.

Speaking with one of the beneficiaries, Sodeeq Lateefat, said that this is a welcoming initiative coming from the Commissioner. This will be a great opportunity for me to boost my businesses.”.

The loan facility is expected to be refunded within Six-months period after the expiration of 3 months moratorium.