BY DAPO AKINREFON

IN a bid to boost the capital base of traders in the Lagos Central Senatorial District of Lagos State, Mrs Oluremi Tinubu recently flagged off a pet project tagged the Petty Traders Empowerment Capital Scheme, PETECS.

Launching the scheme in Lagos, Senator Tinubu maintained that petty trading remains a critical sector of the state economy. She also explained that petty trading is a key contributor to the success and sustenance of the informal sector.

While flagging off the scheme, the lawmaker stated that 50 beneficiaries of the scheme will be selected from each of the 13 local government and local council development areas in the Lagos Central Senatorial District.

According to her: “Beneficiaries will receive the sum of N20,000 each to capitalize an existing petty trade and to boost wealth creation in the Lagos Central Senatorial District”.

Speaking further, the wife of the former governor of Lagos state noted that the commitment is in tandem with the Action Congress of Nigeria’s, ACN’s, commitment to improving the general well being of the people.

She however, pointed out that the scheme will not be “restricted to members or supporters of the ACN alone”, adding that “it is open to all the people residing in the senatorial district”.

In addition, she said: “To guarantee fair-mindedness and ensure that only the needy are considered in the selection of beneficiaries, each applicant is expected to complete an application form with two passport photographs and also have a well-known sponsor or referee resident in the local government and local council development area where the petty trade is domiciled.

“The list of beneficiaries will be released on the day of our first maiden town hall meeting coming up on the 18th of December, 2011. This is to encourage the culture of savings and to prepare the beneficiaries towards the proposed cashless society”.

Earlier in his opening remarks, the South West Vice Chairman of the party, Alhaji Tajudeen Olusi, commended the lawmaker for the initiative, especially for Lagos Central District.

Olusi said: “I want to commend her for taking this beneficial step which is aimed at moving our senatorial district forward. It is not the responsibility of lawmakers to dish out money to anyone”.

But out of her compassion, she has taken this bold step. I want to urge the beneficiaries to use this empowerment scheme for useful purposes. This idea is to assist the beneficiaries improve their condition.”

Present at the flag ceremony are former Commissioner for Finance in Lagos State, Mr Wale Edun, Prince Murphy Adetoro, Alhaji MOK Dosunmu, Alhaji A.S Balogun, community leaders, market women, party leaders across the senatorial district among others.