Abiru Unveils N300m Constituency Revolving Loan Thursday

Sunday Ehigiator

The Chairman Senate Committee on Industries, Senator Adetokunbo Abiru    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 six percent interest rate per annum.

The lawmaker has in November 2021 organised a one-day    MSME  Clinic/Workshop       in partnership with the Fate Foundation and Standard Chartered Foundation.

The workshop drew 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, Abiru will on September 15 formally unveil  the  N300 million constituency  revolving loan at 6 percent 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 totaling 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.