In a bid to fortify local businesses, the Chairman of Odiolowo-Ojuwoye LCDA, Hon Rasaq Olusola Ajala (HRA), delivered on his commitment as over five hundred micro, small, and medium enterprises (MSMEs) and petty traders received a total of 100 million naira in loans and grants.
The auspicious event unfolded yesterday on the LCDA premises, sparking celebration among beneficiaries as they collected their cheques.
Addressing the gathering, HRA underscored his dedication to the welfare of LCDA residents.
“Today’s event is the fulfillment of our promise to support businesses within our LCDA,” he declared, acknowledging initial skepticism.
He emphasized the importance of loan repayments for sustained community benefit and announced grants of fifty thousand naira and twenty-five thousand naira for eligible recipients.
The selection process, he clarified, was based on thorough screenings of individuals’ businesses to determine financial viability, assuring fairness and transparency.
Encouraging regular banking transactions, HRA highlighted the potential for future loan access and business benefits.
The chairman revealed plans for subsequent loan and grant programs, marking the second and third seasons in the coming quarters.
The event’s highlight featured the symbolic presentation of dummy cheques to the beneficiaries.
Community leaders, including CDC Chairman Otunba Adekunle Adebayo and religious figures such as Rev.
Durowoju, expressed gratitude for the unprecedented program, commending Ajala for elevating the LCDA’s economic landscape.
Former local government chairmen lauded the initiative as unparalleled in the LCDA’s history.
Beneficiaries, such as Ramata Titilayo Dosunmu, Adesanya Adepoju George, and Megida Kudirat Funmilayo, expressed appreciation for the loan facility’s potential impact on their businesses.
Dosunmu particularly praised the absence of interest, emphasizing the opportunity for growth.
Dignitaries present included the LCDA Vice-Chairman, Hon Seyi Jakande, legislative leader, Hon. Rilwan Ola Ajenifuja, and various council members.
The event drew support from political figures, party leaders, and former government officials.
Notable community leaders and religious representatives added their presence, showcasing a unified front in endorsing the LCDA’s economic empowerment initiative.
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