COVID-19:  LAGOS MINISTRY EMPOWERS 170 BUSINESS OWNERS

170 business owners in Lagos State have benefited from the Nigerian COVID-19 Action Recovery Economic Stimulus Programme (NG-CARES) under the Ministry of Women Affairs Poverty Alleviations (WAPA) Delivery Platform 1:3 which is targeted at alleviating the status of residents who were adversely affected by the pandemic.

Speaking at the Financial Literacy training for participants, the Permanent Secretary of WAPA, Mrs. Oluyemi Kalesanwo stated that the move was part of social inclusion at restoring businesses for the purpose of revitalisation challenges brought about by the COVID-19  pandemic.

She said, “This programme is the third of its series since 2022, aimed at providing support and assisting residents in rebuilding their lives and businesses with the proper skills and knowledge. Participants will also be empowered with cash grants. Remember your success and the success of this programme will serve as a testament to the resilience and determination of the Nigerian people”,

While reiterating the relevance of the training, Kalesanwo stated that the financial literacy knowledge was designed to equip participants with resources for informed decisions on economic advancement based on budgeting, savings, investment and debt management for valuable insights into economic growth.

She implored beneficiaries to be disciplined with the cash grants since verification agents will pay unscheduled visits to them to ensure the judicious use of the money for their identified project.

In her address, the Facilitator/Financial Expert of the training, Mrs. Lawal Olanrewaju advised participants to have a profiled bank statement in their chosen trades for financial development.

She said, “Your business account should be focused on your tradesmanship and not personal transactions. You need to put yourself on salary so you do not kill your business. You are part of a larger vision to rebuild and revitalise our nation. Your knowledge fosters the growth of the nation, hence, make sure your account details align. Irregularities affect businesses, so make sure you synchronise your account with the necessary information, even as you consider insurance for backup upon the growth of your businesses.

Also speaking, the Statistical Expert at the training, Mrs. Risikat Adeyanju spoke extensively on the need for the participants to build values with judicious use of stock-taking for business expansion processes.

The highlight of the event was the presentation of Certificates of Completion and cash grants to beneficiaries at the training.

Recall that previous training under this programme had been held in the five divisions of Lagos State for 2,676 beneficiaries who had received cash grants between N60,000:00 – N150,000:00 to boost their various ventures.