Ibeju Lekki Disburses First Tranche of Ten Million Naira Loan and Grant: Beneficiaries Urged to Use Funds Wisely

Ibeju Lekki Disburses First Tranche of Ten Million Naira Loan and Grant: Beneficiaries Urged to Use Funds Wisely

Ibeju Lekki, 19th July 2024– The Ibeju Lekki Local Government, in collaboration with the Lagos State Employment Trust Fund (LSETF), has successfully disbursed the first tranche of a 10,000,000 Naira loan and grant. The disbursement ceremony took place on 18th July 2024 at the Council Secretariat in Igando-Oloja, attended by prominent dignitaries and special guests.

In his address, Hon. Abdullahi Sesan Olowa, the Council Chairman of Ibeju Lekki Local Government, highlighted the administration's commitment to economic empowerment. He acknowledged that the provision of substantial funds is a critical step towards supporting and growing small businesses. Hon. Olowa emphasized that many businesses have struggled or shut down due to financial constraints, prompting the administration's intervention.

Hon. Olowa urged the beneficiaries to utilize the funds prudently, as responsible use would make them eligible for additional loans and benefits in the future. He expressed gratitude to the Lagos State Employment Trust Fund (LSETF) for partnering with the Local Government, noting that the program would significantly alleviate poverty.

The Vice Chairman, Hon. Isiaka Yusuf Olatunji, also addressed the beneficiaries, advising them to avoid frivolous spending and to be prudent and accountable. Mrs. Abisola Azeez, the Supervisor for Women Affairs and Poverty Alleviation, echoed these sentiments, encouraging beneficiaries to explore potential opportunities.

Mr. Segun Ayodele, head of the LSETF team, commended Hon. Olowa for his dedication to his constituents, noting that he is the only Council Chairman to partner with the LSETF for an interest-free loan. Mr. Ayodele urged the beneficiaries to make the most of this opportunity.

The event was attended by the Secretary to the Local Government, Hon. Adewale Adebanjo, members of the legislative council, the Council Manager, Mr. Oladipupo Otinwa, the entire management team, apex leaders, traditional royal fathers, and other dignitaries.

Akadiri Ayorinde

*Chief Press Secretary to the Council Chairman of Ibeju Lekki LGA*