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The Lagos State government has given out over N1bn to more than 705 beneficiaries as loans for them to support small businesses.
The beneficiaries received amounts ranging from N50,000 to N5,000,000 from the Lagos State Employment Trust Fund’.
According to Lagos State governor, Akinwunmi Ambode, “These loans have been provided at a very affordable rate of 5% per annum, cheaper than the prevailing bank interest rates. This is our modest way of reflating the Lagos economy, creating jobs and getting our youths gainfully occupied”.
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