The Lagos State Government, in collaboration with development partners, has launched an initiative aimed at improving financial literacy among women in the Araromi-Oguntimehin community of Ibeju Lekki Local Government Area. This effort is part of the ongoing advocacy for women’s financial inclusion under the Human Capital Development (HDC) program.
The event, organized by the Lagos State Office of the Sustainable Development Goals (SDGs) in partnership with Human Capital Development Africa and other stakeholders, focused on educating women about the importance of financial management and the role of data in achieving better outcomes for Human Capital Development.
Dr. Oreoluwa Finnih, Special Adviser to Governor Babajide Sanwo-Olu on Sustainable Development Goals, who was represented by her Technical Assistant, Mrs. Aasiah Solanke, emphasized the importance of financial independence. She encouraged the beneficiaries to invest, save, and grow their money using reliable banking services.
“The Human Capital Development project aims to increase women’s financial literacy in hard-to-reach communities. Many women in 2024 still don’t know how to save, invest, or grow their money effectively. Financial literacy is key to improving not just personal well-being but also the development of families and society at large,” Dr. Finnih said.
Dr. Finnih also commended the partners for supporting the initiative, which aims to increase the financial inclusion of women in underserved communities. These partners included the National Identification Management Commission (NIMC), Lagos State Residents Registration Agency (LASRRA), and financial institutions such as Pay Business (Opay) and Cowrywise, who helped capture over 100 women in their database while educating them on the role of data in economic growth.
In his remarks, the traditional ruler of Araromi-Oguntimehin Town, Oba Lukmon Arowolo, thanked the Lagos State Government and its partners for bringing the financial literacy initiative to the community. He requested further infrastructural development, particularly in schools and healthcare facilities, to improve living conditions in the area.
“We appreciate the Lagos State Government for empowering the women in our community. However, we also need more support in terms of infrastructure, especially a standard primary and secondary school in our community,” Oba Arowolo said.
Beneficiaries of the program expressed their gratitude for the initiative, recognizing the potential of financial education in transforming their lives.
The Human Capital Development advocacy has already reached six communities this year, including Badagry, Bariga, Ojo, Ibeju Lekki, and Mushin, and plans to expand to Ikorodu and Epe divisions in 2025. The program aims to equip women across 12 Local Government Areas and Local Council Development Areas (LCDAs) in Lagos State with essential financial literacy, entrepreneurship training, and access to financial services.
