Breaking News

Lagos establishes micro-credit fund

By Amaka Abayomi

LAGOS – The Lagos State Government has established a micro credit fund for artisans with the aim of alleviating poverty in the state.

Speaking at a one-day sensitisation workshop on Ways of Accessing Lagos State Micro-Credit by Cooperatives organised by the Lagos State Microfinance Institution, LASMI, the state’s Deputy Governor, Mrs  Adejoke Orelope- Adefulire, said the fund, which would be accessible to members of cooperative societies, was in fulfillment of the governor’s promise to support cooperative societies in the state.

She said: “It is common knowledge that even in most developed economies, the best way through which the self-employed can have access to loans remains an effective micro-credit financing scheme.

“As cooperative societies, we need to seek ways through which we can help members access loans so as to alleviate poverty and create wealth for themselves, their immediate families and the nation.”


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.