The Lagos State Government has started disbursing funds to indigent residents as start-up capital for small scale businesses.Under the scheme, each beneficiary gets N20,000 to invest in consumer goods to generate quick turnover, which is then ploughed back into the business for a higher turnover.
The Special Adviser to the Governor on Civic Engagement, Aderemi Adebowale, said through the programme, more residents, particularly the less-privileged and the vulnerable, would have funds for micro-businesses and vocations. “With the funds provided in this scheme, beneficiaries will be exposed to businesses and investment opportunities requiring minimal start-up capitals,” she said.
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