In a bid to boost local businesses and food production, Ikorodu Local Government Chairman, Mr. Wasiu Adesina, has announced plans to collaborate with the Lagos State Employment Trust Fund (LSETF) to roll out N30 million in soft loans for farmers and traders in the state.
Adesina made this commitment during the flag-off ceremony for the construction of a 1,642-meter two-side drainage project from Ita-Elewa to Itunmoja, Ikorodu, on Monday. The project, which is expected to be completed within six months, is part of the council’s efforts to improve infrastructure in the area.
“The partnership with LSETF will enhance food production, support businesses, and attract investments to Ikorodu,” Adesina said. He added that the initiative would also expand traders’ access to affordable loans, driving economic growth and development within the community.
Adesina explained that the loans would be distributed through a collaboration between the LSETF and partnering banks, with a focus on supporting farmers and market traders. “We are working on the arrangements, and the money will be disbursed to eligible farmers, market men, and women to boost their trading activities,” he stated. The loan repayment, he noted, would begin three weeks after disbursement, with a low-interest rate covered by the local government.
He emphasized that the soft loans would serve as a stimulus package, particularly for enterprising youths and women in Ikorodu, helping them to expand their businesses and improve their livelihoods.
Regarding the ongoing drainage construction, Adesina urged residents to avoid indiscriminate dumping of refuse to ensure the free flow of water. He also advised residents to build standard toilets, warning that those who fail to comply would face legal consequences.
Highlighting his administration’s achievements, Adesina mentioned the training of 100 women in fashion designing and the ongoing construction of Solomade Road, which is currently 50% complete. He also noted that the construction of Sanni Arowolo and Dada streets would significantly boost the local economy upon completion.
“My administration is committed to developing the infrastructure of Ikorodu, including the upcoming construction of Eleshin Street, which is part of Agura Ward C,” Adesina added.
Traditional leaders, including Wasiu Akinsanya, Alase of Itunmoja, and Mrs. Sonubi Folake, the Iyalode of Ikorodu, praised the council chairman for bringing the dividends of democracy to their community. They called on youths and residents to cooperate with contractors for the timely and seamless completion of the project.
The event was attended by chieftains of the All Progressives Congress, traditional leaders, councillors representing the ward, and council management staff.
