The Chairman Senate Committee on Industries and Senator representing Lagos East Senatorial District, Distinguished Senator Mukhail Adetokunbo Abiru, FCA has unveiled and called on all Micro, Medium, and Small Enterprises (MSME) living or doing business in Lagos East to apply for the N300 Million Constituency Revolving Loan at 6% Interest Rate Per Annum.
Recall that on 14 November 2021, the #DoingGood Senator, in partnership with The Fate Foundation and Standard Chartered Foundation, organized a one-day MSME Clinic/Workshop for over 1,000 MSMEs drawn across 98 wards in the 16 LGAs/LCDAs in the Lagos East Senatorial District.
The training which attracted Executive Leadership of business-related regulatory agencies and partners like; BOI, SMEDAN, CAC, LIRS, NAFDAC, and LSETF greatly enhanced the capacity of MSMEs in the district.
In addressing the dearth of knowledge which is one of the major reasons why MSMEs fail, a knowledge pack containing seven valuable books covering areas like; Financial Management, Human Capital, Legal, Strategy, Marketing and Communication, Digital Technology, and Tax Management authored by reputable corporations including Deloitte, KPMG, Verraki among others were given free of charge to all participants.
Participants also received Enterprise Development Certificates after the training.
In fulfillment of the promise made to constituents at the event, Senator Abiru will on Thursday, 15 September 2022 formally launch the N300Million (Three Hundred Million Naira only) Constituency Revolving Loan at a 6% Interest Rate Per annum.
It is also worth mentioning that in June 2022, he empowered about 1,250 market women and traders with the sum of N50,000 each as financial grants totalling N62.5 million to support their businesses. Hand-planters and financial grants of N20,000 were also dolled out to 200 rural farmers in the agrarian part of the district.