The Oba Saheed Elegushi Foundation has announced an allocation of N200m to support small and medium-sized enterprises and students in the Eti-Osa area of Lagos State.
This initiative coincides with the 15th anniversary of the Elegushi of the Ikate kingdom, Oba Saheed Ademola Elegushi (Kusenla III), who has dedicated his reign to fostering growth and prosperity within his community.
In a press statement signed by the traditional ruler’s spokesperson, Temitope Oyefeso, obtained on Monday, the monarch said the foundation’s initiative aimed to provide financial assistance and resources to local entrepreneurs and students, helping to stimulate economic growth and enhance educational opportunities.
The statement noted that the funding would be distributed through various programs designed to support innovation, entrepreneurship, and academic excellence.
“As I celebrate 15 years on the throne, I am continuing in the tradition of giving back to society that has supported me. This initiative is a testament to my belief in the potential of our youth and the resilience of our entrepreneurs. Together, we can build a brighter future for our communities,” he stated.
Oyefeso added that a planning committee, headed by Dr Muiz Banire (SAN), is already working round the clock to ensure a successful celebration for the traditional ruler.
Oba Saheed Elegushi was installed as the 21st Elegushi of the Ikate kingdom on April 27, 2010.
