Key points
- FirstBank and Rotary International District 9111 have distributed vocational start-up kits worth N45 million to 140 beneficiaries in Lagos and Ogun states.
- The programme forms part of a long-term partnership aimed at supporting entrepreneurship and small business development.
- Beneficiaries received equipment including sewing machines, grinding machines, hair dryers, make-up kits and catering tools.
- Rotary says recipients will be monitored for one year to ensure the equipment is used to establish businesses.
Main story
FirstBank of Nigeria, in partnership with Rotary International District 9111, has distributed vocational start-up kits valued at more than N45 million to 140 aspiring entrepreneurs in Lagos and Ogun states as part of efforts to promote entrepreneurship and strengthen small businesses.
The beneficiaries received equipment including grinding machines, sewing machines, hair dryers, make-up kits, toolboxes, gas burners and cylinders, bread and cake mixers and other vocational tools.
Speaking during the empowerment programme in Lagos, Acting Head of Retail Business, SME Banking Department, FirstBank, Mr Musiliu Olokodana, said the initiative reinforces the bank’s commitment to supporting Micro, Small and Medium Enterprises (MSMEs).
He disclosed that the partnership with Rotary International District 9111 has empowered more than 400 artisans over the past five years through the provision of vocational equipment.
Olokodana said the latest intervention aligns with the bank’s strategy of promoting entrepreneurship, financial inclusion and community development.
He urged beneficiaries to use the equipment to establish sustainable businesses capable of improving their incomes and livelihoods.
According to him, FirstBank will continue supporting the entrepreneurs beyond the donation by providing access to business advisory services, digital banking solutions, loans, savings products and other financial services as their enterprises grow.
Rotary International District 9111 Governor, Rotarian Henry Akinyele, also encouraged beneficiaries to maximise the opportunity rather than dispose of the equipment.
He described the tools as productive assets capable of creating sustainable businesses, reducing poverty and stimulating local economic development when properly utilised.
Akinyele said the initiative reflects Rotary’s broader commitment to economic and community development through practical empowerment programmes.
He also encouraged beneficiaries to grow their businesses to the point where they could, in turn, support others within their communities.
Rotary District 9111 Governor-Elect, Mrs Bukola Bakare, said beneficiaries were selected through Rotary’s network of 85 clubs, trade associations and a screening process designed to identify trained individuals lacking the resources to establish businesses.
She disclosed that Rotary has introduced a one-year monitoring framework involving scheduled follow-up meetings and unannounced visits to ensure beneficiaries utilise the equipment for its intended purpose.
Bakare added that this is the third year of FirstBank’s support for the programme and that the partnership is expected to run for 10 years.
Also speaking, the Director and Head of Vocational Studies at the Lagos State Agency for Mass Education, Mrs Olaide Oladunjoye, representing the agency’s Director, Mrs Oluwakemi Kalesanwo, commended both organisations for supporting skills acquisition and entrepreneurship.
She said the initiative would encourage self-reliance while contributing to community and economic development.
Several beneficiaries expressed appreciation, describing the intervention as life-changing and pledging to use the equipment to build sustainable businesses.
The issues
Access to start-up capital and equipment remains one of the biggest obstacles facing Nigeria’s micro and small businesses. While many vocational training programmes equip participants with technical skills, beneficiaries often struggle to raise the capital needed to establish businesses. Public-private partnerships that combine skills development with access to productive assets are increasingly being adopted to bridge this gap and stimulate grassroots economic growth.
What’s being said
“We have empowered more than 400 artisans over the past five years, and we will continue supporting beneficiaries with financial products, business advisory services and digital banking solutions as their businesses grow.” — Musiliu Olokodana, Acting Head of Retail Business, SME Banking Department, FirstBank
“These tools are seeds that can grow into thriving businesses, reduce poverty and stimulate economic development if properly utilised.” — Henry Akinyele, Governor, Rotary International District 9111
“We have introduced a one-year monitoring mechanism to ensure the equipment is used to establish businesses and improve livelihoods.” — Bukola Bakare, Governor-Elect, Rotary International District 9111
What’s next
Rotary will monitor beneficiaries over the next 12 months to ensure the equipment is being used productively, while FirstBank plans to provide ongoing financial and advisory support to help participants expand their businesses.
Bottom line
By combining vocational tools with financial support and post-distribution monitoring, FirstBank and Rotary are seeking to improve the survival rate of small businesses while creating employment and expanding economic opportunities at the grassroots.
