Akinwunmi-Ambode lagos Governor
Lagos
Akinwunmi-Ambode lagos Governor
Lagos Disburses N6bn to 8,000 Beneficiaries of
Employment Fund
Executive Secretary of the Lagos State Employment Trust Fund
(LSETF), Mr. Akintunde Oyebode on Tuesday said that no fewer than
15,000 jobs have been created by the Fund in the last two
years.
Speaking to journalists and some Masters Research Students in
his office, he said at least 8000 Micro, Small and Medium
Enterprises (MSMEs) and businesses have also accessed approximately
N6billion since inception of the ETF, an initiative of the Governor
Akinwunmi Ambode administration through which N25billion was
earmarked to be disbursed over a period of four years to provide
entrepreneurs, artisans, traders and others with capital to boost
their businesses thereby reducing unemployment and increasing
wealth among the people.
According to him, since its commencement in 2016, the ETF has
continued to grow the economy and create jobs through provision of
credit facilities with minimal interest.
He said the Fund is targeted towards creating 300,000 (Three
Hundred Thousand) direct and 600,000 (Six Hundred Thousand)
indirect jobs within three years, by supporting at least 100,000
(One Hundred Thousand) MSMEs, while it also seeks to add over
200,000 new tax payers to the Lagos State’s tax net by 2019.
“The ETF is primarily targeted at MSMEs and I can tell you that
in the last two years, we have been able to fund about 8,000
businesses with over N6billion. Our target is to ensure that we
increase that number to at least 15,000 before the end of the
year,” he said.
Oyebode said the impact of the fund was already been felt as it
has gone a long way to create at least 15,000 direct jobs for
skilled persons and thousands of other indirect jobs for unskilled
persons, saying that the target to create 300,000 direct and
600,000 indirect jobs was well on course.
“The underlining factor is that people with genuine businesses
are keying into the fund. We believe that when we empower one
business owner with fund, he or she would require more hands and
that translates to one or two persons off the labour market. At the
end of the day, as their businesses are growing and expanding, the
economy of the State is also recording appreciable growth,” he
said.
Oyebode said aside the ETF, the government through the Lagos
State Employability Support Project, has also concluded plans with
some multinational companies and in affiliation with the United
Nations Development Programme (UNDP) to produce 10,000 skilled
persons within three years to cater for demand in key sectors such
as manufacturing, healthcare, construction, entertainment, garment
making and tourism and hospitality.
“In addition, the project will place at least 6,000 trained
persons in jobs and upgrade the equipment and improve the
curriculum at two of Lagos State Technical and Vocational Education
Board (LASTVEB’s) Colleges,” Oyebode said.
It would be recalled that Vice President, Professor Yemi
Osinbajo during a recent event in Lagos described the ETF as an
excellent example of how State Governments could intervene in
creating opportunities for small businesses.
HABIB ARUNA
CHIEF PRESS SECRETARY