Lagos state govt pays indigent residents N20,000 for business

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The Lagos State Government has started disbursing funds to indigent residents as start-up capital for small scale businesses.

The empowerment scheme is under the Eko Cares Initiative.

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.

According to a statement on Thursday, 217 beneficiaries of the scheme, who are part of the 2,000 people earmarked for the first phase, were at the Adeyemi Bero Auditorium, Alausa, Ikeja, to receive the cash payment.

The Special Adviser to the Governor on Civic Engagement, Aderemi Adebowale, said through the programme, more Lagosians, particularly the less privileged and the vulnerable, would have funds for micro-businesses and vocations.

She noted that the government also hoped the funds would improve their standards of living and quality of lives.

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