The Lagos State Government has announced a partnership with three financial institutions to provide loans for indigent women traders, helping them boost their business capital and become financially literate.
This initiative is part of the state’s effort to enhance financial inclusion.
Dr Oreoluwa Finnih-Awokoya, the Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs), made the announcement during a press conference in Lagos.
She noted that the initiative aligns with her office’s mandate to promote human capital development and support underserved communities through advocacy programmes.
Flanked by representatives from the partnering financial institutions, Finnih-Awokoya emphasised that the goal of the partnership is to eliminate financial exclusion across the state.
To benefit from the programme, women traders must have a National Identification Number (NIN) and be registered with the Lagos State Resident Registration Agency (LASRRA).
“Collaboration is key to private partnership, and we welcome other institutions to join us in this effort to drive human capital development,” she said.
“This initiative is aimed at fostering a Lagos where everyone can thrive, regar/dless of their circumstances.”
Mr Adedotun Adekunle, a representative from OPAY, explained that the programme seeks to integrate more individuals into the financial ecosystem, empowering them to do business and improve their livelihoods.
Similarly, Mr Oyeyinka Oyekan from Cowrywise highlighted that their core mission is to make savings and investment accessible to all Africans, regardless of their socio-economic background. He noted that financial literacy is crucial for sustainable development and that this partnership will help extend financial services to underserved communities.
By promoting financial literacy, the initiative aims to reduce economic barriers and enable long-term participation in the financial sector for individuals and their families, particularly those in marginalised areas.
