Lagos shares out loans to SMEs

Today, Monday, November 26, the Lagos State government shared out loans to small and medium scale businesses.

Many small business owners had smiles on their faces as they went home with accredited loans of between N50,000 and N500,000.
They first received offer letters. Then their accounts were credited. 

The Executive Governor of Lagos State, Mr Akinwumi Ambode made a celebrated entrance to the event.

The loan disbursment, being handled by the Lagos State Employment Trust Fund LSETF, was not limited to indigenes. There was national spread among the names of beneficiaries.

The loan scheme is meant to empower Lagos state residents with much-needed capital. The logic is that when businesses have more funds to finance their businesses, they will employ more people.

Kudos to LSETF and the Lagos State Government for this.