By Abimbola Joseph
CITIZENS COMPASS— A member of the Lagos State House of Assembly representing Ikorodu 1, Gbolahan Ogunleye, yesterday, disbursed N5 million interest-free loan to the second batch of traders in his constituency.
Ogunleye stated that the initiative sought to empower small-scale enterprises at the grassroots level, bolster young women’s businesses, and facilitate their path to financial independence.
The Citizen Compass reports that the lawmaker collaborated with First Bank of Nigeria to manage the process.
He had earlier disbursed N5 million in the first phase to traders in Ikorodu Central, bringing the total to N10 million, with 97 traders benefiting. The second phase targeted traders from Ikorodu North.
Ogunleye reaffirmed his commitment to creating opportunities for traders, especially women to thrive and strengthen their roles in governance and community development.
The lawmaker was represented by Mr Kehinde Ayanbadejo, Secretary, All Progressive Congress(APC) party in Ikorodu Central.
“We feel like the traders needed assistance to boost their businesses and the best option for us is to look for a way to make it easier for them.
“Through interest-free loans, I will be able to alleviate suffering and support them to become financially independent.
“We want the opportunity to go round the division, so that about 500 traders will benefit depending on their performance and turn around,” he said.
The lawmaker encouraged the beneficiaries to utilise the funds wisely and repay the principal amount promptly, allowing the opportunity to benefit more traders across the entire Ikorodu division.
Princess Busola Isikalu, Iyaloja-General of Ikorodu Division, commended the lawmaker for standing by them; empowering and supporting the traders in the division.
Isikalu expressed her gratitude to the leadership of APC in the division and promised that members would promptly pay back so that other traders can benefit.
According to her, a system has been established to monitor the traders and minimise defaults, allowing the gesture to benefit more people in a continuous cycle.
“This gesture will provide the beneficiaries with the needed financial support to expand their businesses,” she said.
Mrs Kudirat Tigbobo, Iyaloja of Ikorodu North, a beneficiary who spoke on behalf of others, expressed satisfaction and lauded the effort of the lawmaker in alleviating the suffering of the market women.
Tigbobo warned members to maintain the trust and not use the loan for frivolities, so the gesture can reach others.
