By Kehinde Aderemi
It was an exciting time recently for members of Lagos State Taxi Drivers and Cab Operators Association at the formal presentation of the ‘offer letter’ for the Lagos State Employment Trust Fund (LSETF) loan given to some members of the association.
The letter signposted an opportunity for members to obtain loan and get empowered as drivers in the state.
President of the association, Prince Tajudeen Adetoro, presented the letter during a colourful ceremony at the association’s secretariat on Adeyemi Street, Oshodi, Lagos. He said the letter, as stipulated by the state government, was to assist those that applied for the loan to enable them repair their cabs and put them in good shape. The taxi drivers’ leader explained that the amount given to beneficiaries as loan was in categories, depending on the need of individual drivers, and the loan would include a 5 per cent interest.
“As a committed association in the state, we applied for the employment trust fund loan from the state government for asset finance and working capital to assist our members across the state, and we have set up a committee from all the branches across all the local governments and units to monitor beneficiaries of the loan to ensure that they actually use the money for the purpose for which it was granted,” he said.
The loan would be repaid regularly on a monthly basis in 12 months, and members must adhere to the specified guidelines laid down by the state government.
Adetoro advised the beneficiaries in the first batch to be good ambassadors of the association, so that the offer would be extended to other members.
General secretary of the association, Mr. Taiwo Omolekan, lauded the state government for the opportunity. He noted that the request by the association was granted based on the credibility of the leaders and members. He said the executive of the taxi drivers and cab operators association stood as guarantors to all the members.
The amount granted as loan, he said, ranged between N200,000 and N500,000, adding that the loan was meant for the 1,554 members that applied, in batches. The initial offer letters for the first batch was given to 100 members.
“We are hopeful that the next batch would be perfected in the next few days, but be assured that there is no room for defaulters. We are going to monitor everybody. The loan will be repaid accordingly,” he said.
The association’s public relations officer, Mr. Ganiyu Adebayo, said efforts by the state government were geared towards supporting the association. He urged the state government to speed up the loan arrangements and processes to cater to the needs of all members of the association in the state.
Some of the beneficiaries expressed gratitude to Governor Akinwunmi Ambode for granting their request. Mr. Mufutau Aderemi from Kosofe, David Obey from Alimosho, and Deacon Tope Aina from Ikeja, who spoke with Daily Sun reporter, assured the leadership of the Lagos State Taxi Drivers and Cab Operators Association of their cooperation, even as they all promised to put the loan to good use.