Home Lagos House of Assembly this Week Lagos Lawmaker Supports SMEs With Start-Up Fund

Lagos Lawmaker Supports SMEs With Start-Up Fund


In a bid to encourage self employment among the youths, the legislator representing Somolu constituency 1 at the Lagos State House Of Assembly, Hon. Rotimi Olowo, has supported Small and Medium Enterprises (SMEs) operators in the area with startup fund of over N2million.

Olowo disbursed the fund on Wednesday after his ‘Enterprenuership Endowment Special Committee’ had critically appraised the business proposals submitted by the competitors.

Addressing the beneficiaries, the lawmaker explained that the fund was to enhance youth enterprenuership and provide opportunities to grow sole proprietorship in the economy of the constituency.

Olowo added that the winners of the enterprenuership competition were carefully selected based on the quality and economic impact of their business proposals to the environment.

He said the enterprenuership competition was part of the commitment he made to the youths during the last constituency stakeholders’ meeting held in August, adding that the economic effects of their businesses would be felt by all constituents.

The lawmaker advised the winners to use the fund for the purpose it was given, saying that it would further encourage him to do more next time.

The winner went home with N500,000, 1st runner-up got N300,000 while 2nd runner-up got N200,000 while others went home with N100,000, N50,000 and N20,000.

Meanwhile, as a way of marking his birthday, Olowo visited some of the primary schools in Somolu and distributed learning materials to the pupils to enhance their studies.

While addressing the pupils, he said it was a thing of joy for him to celebrate his birthday in their midst, saying that his presence was to motivate them to remain focus on their studies and let them know that they can become whatever they want to be in life.


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