LCDA empowers 1000 Female Small-Business Owners with N50 million

The authorities of Ikoyi-Obalende Local Council Development Area (LCDA), Lagos have empowered 1000 female small-business owners with a total of N50 million. Amongst the total, each of them received N50,000.

During ‘The Empowering Her Fortune Initiative (EHF) 2.0’ that took place at Muson Centre, the Council Chairman Fuad Atanda-Lawal stated that MTN Nigeria’s fin-tech subsidiary ‘MTN Momo’ has supported this initiative.

With an intent to change the narrative, these grants have been given, as per Fuad who also noted that his administration has acknowledged the challenges that come across in the path of small businesses.

He said, “He said: “In April, we intensified our efforts, empowering 400 women with N50,000 each. Today, we will be providing support to over 1,000 women through grants of N50,000 each also. This financial assistance is not merely symbolic. It is a transformative force aimed at helping their small businesses flourish, offering a lifeline during these challenging times, and paving the way for new opportunities.”

“The essence of this initiative, again, is rooted in my strong belief that denying women opportunities equals overlooking the invaluable contributions they can offer. Women are multipliers. Empowering women not only transforms their lives but also enriches the entire community. When we elevate women, we uplift families and stimulate economic growth within our neighbourhoods,” Fuad said.