ABEOKUTA – The Lead Pastor of Victory Life Bible Church International, Apostle Lawrence Achudume, has said business empowerment should go beyond giving financial assistance to individuals, stressing the need to build enterprises capable of creating wealth, generating employment and improving livelihoods.
Achudume stated this while speaking on the church’s entrepreneurship support initiative, through which financial and advisory assistance is provided to entrepreneurs with viable businesses and business ideas.
He said empowering people to establish and expand businesses could have a wider economic impact, particularly when beneficiaries are able to grow their enterprises and create opportunities for others.
According to him, entrepreneurship provides a practical avenue for individuals to deploy their skills and ideas productively while building sustainable sources of income for themselves and their families.
“Entrepreneurship is an important avenue for empowering individuals, creating employment opportunities and improving the economic wellbeing of families,” Achudume said.
He explained that the initiative was part of the church’s effort to complement spiritual development with practical support that could enable people to become productive and economically independent.
Achudume commended the church’s Entrepreneurship Support and Development Committee (ESDC), under the leadership of its Chairman, Wole Elusakin, for driving the programme and identifying businesses with prospects for growth.
Speaking on the structure of the intervention, Elusakin, who is also the Chief Executive Officer of Pomegranate Nigeria Limited, said the committee deliberately chose a loan-based system rather than an outright grant scheme.
He explained that the model was intended to encourage beneficiaries to take ownership of the opportunity and ensure that funds released for business were applied to their intended purposes.
Elusakin said, “If you give people grants, there is a tendency for some people to misuse the money because they see it as free money. That is why we decided that this should be a loan. Any money given for business should be used judiciously and for the purpose for which it was provided.”
He noted that the repayment system would also make the intervention more sustainable by allowing funds recovered from beneficiaries to support other entrepreneurs.
“The repayment is important because it allows other people to also benefit from the programme,” he said.
Elusakin said the initiative had recorded positive results, with some previous beneficiaries expanding their businesses and others completing repayment of the loans they received.
“I am happy to tell you that some of the people who previously benefited from this programme have invested in their businesses and made significant progress. Some have fully paid back, while others have grown their businesses to the extent that they no longer have the need to take additional loans,” he said.
He said the experience of the earlier beneficiaries had encouraged the committee to extend the opportunity to more entrepreneurs under the latest phase of the programme.
Elusakin disclosed that millions of naira had been approved for some of the new beneficiaries, while proposals requiring further consideration would be subjected to the committee’s assessment.
He said the assessment covered the viability of the business, the applicant’s needs, the proposed use of the funds and the potential for growth.
Beyond funding, Elusakin said the committee also provides advisory support, explaining that submitted proposals are reviewed to determine the kind of guidance that could assist beneficiaries in managing and developing their businesses.
He urged entrepreneurs with viable business proposals to take advantage of the initiative, stressing that financial support alone would not guarantee success without proper planning, accountability and effective management.
Elusakin expressed appreciation to Achudume for his backing of the programme and commitment to empowering people through entrepreneurship.
“I want to especially thank our Papa, Apostle Lawrence Achudume, for his support for this project and for ensuring that people are empowered to grow their businesses in one way or another,” he said.
Beneficiaries include Stephen Temitayo of Ojulowo Tailor, Adebisi Oluwakemi, Jeremiah Alade and Mo Glow Bubbles, among others.
