Ayobo: Ayobo Ipaja Local Council Development Area (LCDA) has taken a significant step to support local entrepreneurs by distributing N100 million to 1,000 traders, artisans, and other residents. Each beneficiary received a cash grant of N100,000 to bolster their businesses.
According to News Agency of Nigeria, the empowerment initiative, held at the council secretariat, was spearheaded by LCDA Chairman Mr. Ladi Oluwaloni. He emphasized the administration’s dedication to promoting economic prosperity and improving the lives of those in the council area. “Today we are here to launch Ajumose Season 1, the Growth Together Entrepreneur Empowerment Grant,” Oluwaloni stated, highlighting the initiative’s goal to provide non-repayable grants that symbolize the administration’s commitment to fostering a vibrant and inclusive community.
The beneficiaries of this program include tradesmen and artisans, transport union members, Community Development Association officials, among others. Mr. Oluwaloni underscored the importance of small and medium-scale enterprises in the local economy, describing them as the backbone of any thriving community. The grants aim to encourage innovation, create jobs, and alleviate poverty in the region.
Traditional ruler Oba Ahmed Orelope-Laka, Elegbeda of Egbeda, expressed gratitude for the council’s efforts, noting the unprecedented nature of such an empowerment initiative in the Ayobo/Ipaja Community. He praised Oluwaloni for his impactful leadership since assuming office and acknowledged the potential long-term benefits for local businesses.
Mr. Wole Aina, the All Progressives Congress (APC) Party Chairman in the LCDA, also lauded the initiative, marking it as a first for the community in terms of scale and reach. He encouraged residents to support the chairman in the upcoming local government elections to ensure continued development and urged beneficiaries to utilize the grants wisely to enhance their businesses.
One of the beneficiaries, Mrs. Taibat Awosika, expressed her gratitude, sharing plans to use the N100,000 grant to restock her shop and expand her trade.