Lagos State Governor, Babajide Sanwo-Olu, emphasised the need for low-interest rates to support Micro, Small, and Medium Enterprises (MSMEs) during an event celebrating International Women’s Day.
The event, organised by the Ministry of Commerce, Cooperatives, Trade, and Investment in collaboration with the Women Entrepreneurs and Professional Development Network (WEPDN), focused on the economic inclusion of women entrepreneurs at the grassroots level.
Governor Sanwo-Olu highlighted the importance of providing MSMEs with access to affordable financing, stating that only loans with single-digit interest rates can spur the growth of small businesses.
Recognising the role of MSMEs in job creation, he underscored the necessity of supporting them with low-interest funds to facilitate expansion.
Represented by Deputy Governor Obafemi Hamzat, the governor pledged to extend the state’s empowerment programs to more women, aiming to empower them economically and enable their contributions to the growing economy.
He emphasised the state’s commitment to providing capital, training, and networking opportunities essential for the growth of women-owned businesses.
The event featured a range of initiatives aimed at empowering women entrepreneurs, including a financing platform, digital marketing training, skills development, and financial inclusion efforts.
Meanwhile , free Point of Sales Machines (POS) were distributed to enhance businesses, along with other gifts provided by Lotus Bank.
