Gov. Babajide Sanwo-Olu has reaffirmed his commitment to creating an enabling environment for women, especially those operating Nano, Micro, Small, and Medium Enterprises (MSMEs).
This, he said, is to enable them to flourish and contribute their quota to the economy.
Sanwo-Olu gave the assurance at an International Women’s Day programme held on Thursday at LTV Complex, Agidingbi, Ikeja, Lagos.
The event was organised by Ministry of Commerce, Cooperatives, Trade and Investment in collaboration with Women Entrepreneurs and Professionals Development Network (WEPDN).
It had the theme: Inspire Inclusion: Economic Inclusion of Women Entrepreneurs (NANO/MSMEs) At The Grassroots/Community Level.
The governor, represented by his deputy, Dr Obafemi Hamzat, said that his administration, by focusing on economic inclusion, would build a more equitable society where everyone, regardless of gender, could contribute their quota to the economic growth of the State.
“The collaboration between government and WEPDN signifies shared commitment and vision to this cause.
“We will explore avenues for policy formulation, capacity building and the creation of a conducive environment that supports the growth and sustainability of women-owned businesses,” he said.
Sanwo-Olu acknowledged that women play pivotal roles in the economy, especially if empowered.
He, however, noted that at the community level, women still encountered obstacles such as limited access to financial resources.
Others are lack of training and skills, cultural norms that restrict economic participation, and inadequate support systems.
Sanwo-Olu called on financial institutions to reduce the interest rate on loans to women entrepreneurs.
The governor also highlighted some initiatives such as necessary capital, training and networks necessary to grow their businesses.
“Among these are the N4billion LSETF-W initiative, investment in vocational training centres, the launch of Lagos Trader Money and participation in the “Inform Women, Transform Lives” campaign.
“The state government envisions a Lagos where every woman entrepreneur, regardless of her location or the size of her business, with access to the internet and data resources needs to grow and succeed,” he said.
In her goodwill message, the wife of the governor, Dr Ibijoke Sanwo-Olu, said that women’s participation in decision-making, especially entrepreneurs, is not just a right but also a key to sustainable development.
Represented by Mrs Oluremi Hamzat, wife of the deputy governor, Ibijoke stated that economic empowerment of women is the best route and opportunity for improving their social status and national development.
Similarly, Chairman, House Committee on Commerce, Cooperatives, Trade and Investment, Mr Abiodun Tobun, said the initiative of the state government would enable women to be more involved in capacity building so as to help reduce the rate of unemployment in the state and country as a whole.
Earlier, Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medembem assured that government would continue to work with its partners to accelerate progress towards economic inclusion of women entrepreneurs at the grassroots and community level for the prosperity of the State.
According to her, the government will implement targeted policies and programmes that prioritise and meet the needs of women businesses at the grassroots.
“This includes access to microcredit facilities, capacity building, and increased access to market and networking opportunities.”
NAN reports that International Women’s Day is celebrated globally every March 8 by advocating for equity, inclusivity, gender justice, wider opportunities for women, career advancement without discrimination and security in work environment. (NAN)
