News Column

Apapa-Iganmu LCDA Disburses N320 Million Loans

July 28, 2014

THE Apapa-Iganmu Local Council Development Area of Lagos State has granted N320 million loans under its micro credit scheme within the last three years.

Reviewing the programmes of the local council at a stakeholder's forum in Ijora-Badiya on Friday, its chairman, Dr. Adesola Adedayo, said more than 8,000 traders, artisans and small-scale manufacturers in the area benefitted from the scheme.

Dr. Adedayo said that the micro credit scheme has remained the bedrock of his women and youth empowerment programme, which, he said, has been successful.

"A major highlight of this heart-warming report is that customers' re-payment stood at over 99 per cent while total portfolio at risk (doubtful and bad debt) stood at N1.5 million.

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Source: AllAfrica

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