The Oba Saheed Elegushi Foundation, a non-governmental organisation (NGO), says it is giving N200 million to support small and medium enterprises (SMEs) and students in Eti-Osa area of Lagos state.

The NGO said this in a statement signed by Temitope Oyefeso, special assistant on public affairs to the traditional ruler of Ikateland, Oba Saheed Elegushi.

According to Mr Oyefeso, the initiative coincides with the 15th anniversary of the traditional ruler, whose reign has fostered growth and prosperity within the community.

He said the traditional ruler had pledged his commitment to sustainable development and  upliftment of the community.

Mr Elegushi was quoted to have said: “As I celebrate 15 years on the throne, I am continuing in the tradition of giving back to the society that has supported me.

“This initiative is a testament to my belief in the potential of our youths and entrepreneurs.

“Together, we can build a brighter future for our communities.”

Mr Oyefeso said the initiative aimed at providing financial assistance and resources to local entrepreneurs and students to help stimulate economic growth and enhance educational opportunities.

“This initiative not only marks a significant milestone in the traditional ruler’s reign but also reinforces the foundation’s commitment to driving positive change within its area of focus,” he said.

He noted that the funds would be distributed through various programmes designed to support innovation, entrepreneurship, and academic excellence.

Mr Oyefeso further said other activities planned to celebrate the anniversary, which will hold from April 18 to April 27, includes a public presentation of a book on the history of Ikate-Elegushi Kingdom.

Others are the conferment titles on eminent Nigerians, as well as a cultural festival and an anniversary banquet.

The traditional ruler was installed as the 21st Elegushi of Ikate Kingdom on April 27, 2010. 

(NAN)