Lagos State Governor, Babajide Sanwo-Olu, yesterday, advocated low interest rates for Micro, Small and Medium Enterprises (MSMEs) in the country to allow them access to financial support and thrive in their respective businesses.
Sanwo-Olu, who was represented by his deputy, Dr Obafemi Hamzat, advised the celebration of International Women’s Day held at the Blue Roof, Ikeja, with the theme “Economic Inclusion of Women Entrepreneurs (NANOs/MSMEs) at the Grassroots/Community Level.”
The governor said only loans with single-digit interest rates could help unlock the growth of small businesses, saying that Micro, Small and Medium Enterprises (MSMEs) create the most jobs and therefore should be supported with low-interest funds to enable them to do more.
According to him, Lagos State will ensure that more women are brought into the net of the state’s empowerment programmes which would allow them to contribute to the growing economy.
He said that the state would pay more attention to women’s empowerment in that regard to ensure the provision of capital, training and network necessary to grow their businesses.
Meanwhile, the state’s Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, said that the event, which was organised by the ministry, was initiated to recognise and discuss the indispensable role women play in shaping businesses, leading to economic prosperity.
Ambrose-Medebem said despite the enormous contributions of women to the growth and development of the nation, they were still facing numerous challenges that impede their economic empowerment and inclusion, stressing that the Lagos State government has programmes that will remove those barriers.
In her remarks, the President of the Women Entrepreneurs and Professional Development Network (WEPDN), Affi Israel Ibanga, said the strategic conference was designed for development stride in the state, saying it will help to facilitate women’s inclusion in the scheme of things, especially at the community level where many of the women reside.
