Firstbank, Rotary Empower 102 Beneficiaries With N20m Start-Up Kits

The First Bank of Nigeria Limited, with Rotary Club International, District 9110, has distributed N20 million worth start-up kits to 102 beneficiaries in Lagos to empower them across various trades.

The News Agency of Nigeria (NAN) reports that start-up kits distributed included: grinding machines, plumbing kits, deep freezers, sewing machines, generators, gas burners and cylinders, barbers and hairdressers kits, among others.

NAN further reports that the community intervention project had beneficiaries from the three major ethnic groups in Nigeria drawn from Lagos, Ogun, and Oyo states.

Mrs Helen Ihonre, Unit Head, Other SME Products e-Business and Retail, FirstBank, during the presentation, offered insights on financial management and economic discipline. She emphasised the importance of maintaining records and accessing low-interest loans to support business growth and expansion.

Firstbank, Rotary Empower 102 Beneficiaries With N20m Start-Up Kits

She urged beneficiaries to prioritise saving from the inception of their businesses, while discouraging them from keeping funds at home, which might lead to misuse. “Start saving from the beginning of your business. Don’t wait till you sell then keep the money in your house”, she said.

Rotary District 9110 Governor, Ifeyinwa Ejezie, spoke on the significance of economic empowerment in Rotary’s initiatives and called for government collaboration to reach grassroots communities effectively.

She emphasised the role of Rotary in complementing government efforts and stressed the need for recognition and partnership to enhance community development. She added that the N20 million items distributed were the largest the district had done in one empowerment initiative in recent times.

Bukola Bakare, Rotary International District Governor Nominee Designate, explained the process and challenges of raising funds for the project and how they incorporated Rotary from Singapore to absorb shocks from inflation. She said, “Everything that has been given here today is free for the beneficiaries”.

She mentioned that FirstBank was a major sponsor for the project, adding that the 102 beneficiaries were chosen based on a needs analysis from Igbos, Hausa, and Yorubas residents in Lagos, Ogun, and Oyo states.

Mrs Kemi Kalesanwo, Director, of Lagos State Agency for Mass Education, said that 22 out of the 102 beneficiaries were from the agency’s vocational training centres. Kalesanwo said that the state government believed in public, and private partnerships and was happy with the collaboration with Rotary and FirstBank.

Culled from NAN