Lagos flags-off Dangote Microfinance Scheme

Eniola Ajayi, Lagos

A 400 million naira Dangote Trust Fund Micro grant scheme for 40,000 women across Lagos State has been flagged-off.

The scheme is designed to enhance the income generating capacity of
beneficiaries through seed grants of 10,000 naira and other accessories.

During the flag-off, Governor Akinwunmi Ambode said that the programme would be supported to reach beneficiaries across the 20 Local Government and 37 Local Council Development Areas of the State.

Governor Ambode added that the micro-grant would be administered to benefit the disadvantaged and vulnerable members of the community.

“We will see to it that we reach out to the disadvantaged people, especially the widows and other special interest persons, the real essence of wealth is to improve the standard of living of people around us, true wealth is measured not by the property one acquires but by the ability to positively affect the society and lift up less privileged people,” Ambode said.

PIX 0551Golden opportunity

He then appealed to the first set of beneficiaries not to abuse the opportunity afforded them by the scheme.

“The seed grants you will receive have been provided to enable you engage in petty commercial activities and cottage business that will put food on the table for your family and not a largesse that should be spent frivolously,” he said.

He however urged members of the Micro-Grants beneficiary selection
committee to ensure transparency in the nomination process from the
ward level.

“You must make sure there is fairness in all you do, don’t deny anyone access to this facility on the basis of gender, political, ethnic or religious affiliation,” he said.

The Lagos State Governor then commended Nigeria and Africa’s richest man- Aliko Dangote for the gesture and also urged other well meaning, public spirited individuals and corporate organisations to emulate his kind gesture.

Earlier, Dangote said that the programme was targeted at a minimum of 1,000 vulnerable women in each of the 774 Local Government Areas across the country.

He said that it provided the women the opportunity to reduce their
vulnerability and meet their livelihood needs.


He however said that due to the special status of Lagos State, the
number of beneficiaries per Local Government was doubled to enable the programme reach out to a larger population of women.

“The programme was implemented in partnership with
the State Government to ensure inclusivity; beneficiaries would be given mobile phones in addition to the 10,000 naira”
Dangote highlighted.

According to him, payments would be made electronically via mobile money platform so that beneficiaries could redeem their cash immediately.