Kosofe Local Government in Lagos State has launched a N100 million empowerment scheme aimed at supporting small and medium-scale enterprises, strengthening livelihoods, and promoting economic self-reliance across communities within the council.
The launch event drew beneficiaries, community leaders, youth groups, artisans, and market associations, reflecting wide interest in the initiative.
Speaking at the programme, the council manager praised the chairman's leadership and noted that the scheme aligns with the federal government's economic inclusion drive under the Renewed Hope Agenda.
She urged beneficiaries to apply the funds responsibly, adding that the council would continue to expand opportunities that support growth and stability for residents.
Chairman of Kosofe Local Government, Moyosore Ogunlewe, said the intervention represents a bold investment in the economic future of the area. He explained that the fund is targeted at traders, artisans, youth entrepreneurs, and vulnerable residents who need capital to expand their businesses or improve their livelihoods.
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Ogunlewe stated that beneficiaries would receive their payments instantly, eliminating bureaucratic delays and ensuring quick access to financial support.
"This is the first time a direct and massive financial empowerment is being implemented in Kosofe Local Government. We are rewriting history, and we are doing so with the people at the centre of our mission," he said.
He assured residents of a transparent and accountable process, emphasising that the selection was fair, inclusive, and reflective of the needs of the communities. Ogunlewe encouraged recipients to use the funds wisely, noting that the success of the programme would pave the way for more impactful initiatives in the future.
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