In a major move to strengthen grassroots economic empowerment, the Agege Local Government has launched a ₦100 million grant programme targeted at supporting youths and women operating micro and small businesses within the council area.
The initiative, described as part of broader efforts to stimulate local economic growth, will provide financial support, vocational training, and capacity-building opportunities to eligible beneficiaries.
Boosting Small Businesses in Lagos
Local government officials said the grant scheme is designed to support entrepreneurs in sectors such as:
- Fashion and tailoring
- Hairdressing and barbing
- Catering and food processing
- Retail and petty trading
- Artisans and technical services
The programme aims to provide startup capital and expansion funding to small business owners struggling with limited access to credit.
According to council authorities, empowering micro and small enterprises is key to reducing unemployment and promoting financial independence, particularly among women and young people.
Focus on Youth and Women Empowerment
Officials noted that youths and women form a significant portion of informal business operators in Agege and across Lagos.
By prioritizing these groups, the council hopes to address economic inequality and create sustainable income streams for households.
The initiative also aligns with Lagos State’s broader economic development agenda under the Lagos State Government , which continues to emphasize entrepreneurship, skills acquisition, and SME development.
Vocational Skills and Capacity Building
Beyond financial grants, beneficiaries will undergo vocational and business development training covering:
- Financial literacy
- Business management
- Branding and marketing
- Digital skills for entrepreneurs
Officials said this holistic approach ensures that recipients not only receive funding but also gain the knowledge required to sustain and grow their businesses.
Economic Impact at the Grassroots Level
Economic analysts say micro and small-scale enterprises are critical drivers of job creation in Nigeria, accounting for a large percentage of employment opportunities nationwide.
By injecting ₦100 million directly into local businesses, the Agege Local Government is expected to stimulate:
- Increased business activity
- Local job creation
- Higher household income levels
- Improved community economic resilience
Residents have welcomed the announcement, expressing optimism that the programme will reduce financial hardship and promote inclusive growth.
Application and Implementation
Council officials indicated that transparent selection criteria will be applied, with beneficiaries chosen based on business viability, community impact, and commitment to growth.
Details regarding application procedures and timelines are expected to be released in the coming days.