Ministry trains 400 residents in financial literacy

Forum 1 year ago

Ministry trains 400 residents in financial literacy

Livelihood Delivery Platform DLi 1.3, an initiative coordinated by the Lagos State Ministry of Women Affairs and Poverty Alleviation, under the Nigerian COVID-19 Action Recovery Economic Stimulus programme, has embarked on financial literacy training for 400 vulnerable and indigent residents of the state.

A statement by the ministry on Tuesday said the initiative was part of the moves to mitigate the effects of the economic downturn induced by the COVID-19 pandemic on businesses across the Lagos Metropolis.

According to the statement, the training ran simultaneously across three centres, namely: Ijanikin-Oto Awori Local Council Development Area; Coker Aguda LCDA; and Somolu Local Government Area.

The Head, Delivery Platform DLi 1.3, Mrs Oluwatoyin Salami, explained that the purpose of the initiative was to reach out to indigents who were economically deprived during the COVID -19 lockdown and are still unable to achieve financial sustainability.

Salami said, “Many businesses were grossly affected by the lockdown, so much so that they are yet to balance up. This has greatly affected their commitment towards economic growth. Hence, the need for financial literacy and empowerment programmes. ”

A business consultant/facilitator at the programme, Mrs Folasade Sonaike, said it was “imperative to have a business strategy using research and marketing plans for enhanced financial growth.”

Sonaike gave insights on modes of financial literacy to enable participants to groom their businesses/vocations effectively, especially with the advent of social media tools.

The highlight of the programme was the presentation of certificates of participation to beneficiaries and financial support to aid their businesses.