Rotary Club of Falomo lifts 15 Lagos traders
No fewer than 15 traders have received financial support from the Rotary Club of Falomo, as part of efforts to strengthen small businesses. Each beneficiary got N30,000, separate from about
No fewer than 15 traders have received financial support from the Rotary Club of Falomo, as part of efforts to strengthen small businesses.
Each beneficiary got N30,000, separate from about N2.5 million interest-free loans earlier given to the Police Officers’ Wives Association (POWA) in Ikoyi.
At the presentation at the Bonny Camp Mammy Market in Lagos, the President of the club, Ibrahim Sule, said the initiative was part of the club’s programme for small-scale entrepreneurs.
According to him, the empowerment scheme began several years ago, in collaboration with the POWA in Falomo and Nigeria Police Microfinance Bank, through which beneficiaries received the loans.
“This project was started by about four presidents, and we had always done it with the Police Officers’ Wives Association in Falomo, in conjunction with the Nigeria Police Microfinance Bank.
“We had always given out interest-free loans repayable within a period. This time we extended it to traders in the Bonny Camp Mammy Market.”
He explained that the loans were aimed at 15 people, adding that in future the number of beneficiaries would expand.
“This time we have 15 beneficiaries and each received N30,000. By next year, the fund would have reached about N3 million that we have given out as interest-free support,” he added.
Sule said the programme was designed to support grassroots entrepreneurs, particularly market women, whom he described as critical drivers of the local economy.
“Anybody who knows Lagos knows that without market women, Lagos cannot move. From early morning till late evening, rain or shine, they keep businesses running and ensure families get what they need,” he said.
The Iyaloja of Mammy Market, Bonny Camp, Mrs. Sade Ahmed, said: “This gesture from the Rotary Club of Falomo came to us unexpectedly and it will go a long way to boost our businesses. We are grateful and promise to use the grant judiciously,” she said.
The Chairman, Mammy Market, Mr. Demean Adinum, added: “We are expressing our gratitude to the Rotary Club of Falomo for this kind gesture. However, we would urge the club to extend this support to the men in the market in future programmes.
“The market is made up of men and women, so it is important that everyone gets a feel of such support.”
At the ceremony were the incoming President of the club, Paul Ofienbor, and immediate past President, Sandra Ovie, among other members.
