To uplift vulnerable Nigerians and foster economic stability in Lagos’ Oshodi-Isolo local government area, SOS Children’s Villages (Nigeria) has disbursed N240 million to over 250 women entrepreneurs operating micro, small, and medium-sized businesses. This initiative, executed through eight Village Savings & Loans Associations (VSLAs), aims to strengthen these women’s enterprises, enabling sustainable livelihoods and improved family welfare. Each VSLA, which includes groups named United, Bond, Women of Grace, Ife Ari Anu, Endless Love, God’s Time, Orisunbare, and Glory of God, received N30 million to support their business growth.
Speaking at the empowerment ceremony, Mr. Eghosa Erhumwunse, National Director of SOS Children’s Villages Nigeria, emphasized that the financial support is intended to foster resilience and independence among the beneficiaries. “We are helping to establish sustainable livelihoods and a nurturing environment where children can grow with security and opportunities,” he noted. “This initiative transcends religious, cultural, and socio-economic barriers, enabling families to build stable incomes, achieve independence, and invest in their children’s education, health, and well-being.”
The financial empowerment is designed not only to uplift the immediate families of the beneficiaries but to foster community resilience, transforming individual success stories into a broader socio-economic impact in Oshodi-Isolo. “Each new business represents a family’s pathway to a brighter future, where they can independently support their children’s development,” Erhumwunse stressed.
Traditional Ruler Pledges Oversight to Ensure Financial Prudence
To maintain the integrity of the initiative, the Adele Oba of Isolo, High Chief Saliu Wasiu Arowooye, pledged active oversight, assuring that the funds would be prudently managed despite prevailing economic challenges. “For this huge financial empowerment, we will make sure the beneficiaries don’t mismanage it,” he stated, adding that the community leaders would report back to SOS Children’s Villages at year’s end after an audit.
Empowered Women Set Sights on Business Expansion and Job Creation
In response to the funding, Mrs. Olatunbosun Sherifat, president of the Unity VSLA, expressed deep gratitude on behalf of her group, which trades in foodstuffs. “We are grateful to SOS Children’s Villages. We must not waste this N30 million but use it to expand our businesses,” she pledged, further indicating plans to create employment opportunities as the businesses grow.
This impactful financial intervention by SOS Children’s Villages has catalyzed not only economic empowerment for over 250 women but has also set a model for community-driven growth and sustainable development in vulnerable communities.
