LASG set up technical committee on microfinance.

Governor Fashola of Lagos State, Nigeria

LASG set up technical committee on microfinance.
Abdul Semiu Babalola, Lagos

The Lagos state government (LASG) has set up a committee on the accessibility of microfinance loans by tradesmen and women as well as other artisans in the State, in order to reduce poverty to the barest minimum.

Inaugurating the eight-member committee the State Deputy Governor, Mrs. Adejoke Orelope-Adefulire said the committee is charged with the responsibility of interfacing with the small and medium scale businesses and the government.

A statement from the Special Assistant on Media to the Deputy Governor explained that the committee was set up with a view to ensuring that the loans being provided by the government gets to the targeted beneficiaries and that such loan is repaid at the agreed period.

According to the Deputy Governor, “We enjoin you to come forward with your business ideas and other details, while the committee will look at it and advice accordingly.

You must also repay the loan as quickly as possible to enable other people benefit. If you don’t repay, you are denying other people the opportunity”.

She advised interested artisans and other business owners in the State to take advantage of government gesture and meet with the committee on their business proposals and other details of their business to be able to have access to the loan.

The Deputy Governor added that the collaboration between the Lagos state Microfinance Institution (LASMI) and the Lagos State Cooperatives Federation (LASCOFED) is to ensure that the loans get to the end users who will put it into judicious use through their cooperative societies.

Earlier in his welcome address, the Chairman of LASMI, Mr. Sikiru Macfoy, said the inauguration of the technical committee was part of the resolutions of a seminar organized by LASMI in conjunction with LASCOFED, where the challenges of accessing microfinance loans were discussed.

He thanked the Deputy Governor for her passion towards the empowerment of small scale businesses in the State and assured her of the determination of LASMI and LASCOFED to ensure that government loans are properly distributed.

The technical committee is headed by Dr. Sikiru Ashamu of the Lagos State University (LASU).

Other members include, the President of the Lagos State Council of Tradesmen and Artisans, Mr. Bola Sanusi, Mrs. Ayo Awokulehin from the Lagos State Ministry of Agriculture and Cooperatives as well as representatives of the Ministry of Women Affairs and Poverty Alleviation, LASMI and LASCOFED.

Iheanacho