We’ve financed 500,000 entrepreneurs with N10bn business grant since inception — LSETF

IBRAHIM QUADRI

Lagos State government   says it has disbursed N10 billion to 500,000 businesses since inception in the State as a form of empowerment, hereby creating jobs for Lagosians.

This was done through the Lagos State Employment Trust Fund, LSETF created in 2016 by the state government to provide loans for small scale businesses.

The Acting Executive Secretary of the agency, Feyisayo Alayande made the disclosure while speaking on the forthcoming Lagos State Employment Trust Summit 3.0 coming up on July 3 at the Eko Hotel and Suites, Victoria Island.

Alayande explained that out of the N10billion, 86 percent of the amount has been paid back while 500,000 businesses have been supported and 220, 000 training conducted for entrepreneurs.

She said the Summit is to show what the state has been doing to create opportunity for jobs for Lagosians and collaborate with private sectors in bridging the employment gap.

Alayande added that LSETF has been partnering with stakeholders to find solutions to job scarcity. She further said different speakers have been selected to speak at the summit.

The Executive Secretary noted that the agency also set up a business support initiative where free legal support and business orientation are given to entrepreneurs.

She further said the agency will soon launch the Labour Management Information System where Lagosians can get information on latest jobs in the market.

The Special Adviser on Media and Publicity to Governor Babajide Sanwo-Olu, Gboyega Akosile said the administration is proud of what the LSETF has done in creating job opportunities for Lagosians which has advanced the vision of the Governor administration.

He said the success of LSETF reflects the THEMES + agenda of Sanwo-Olu’s administration.

Ruby Igwe of ALX Africa, one of the partners in this year’s summit, who expressed delight over the partnership with LSETF, stressing that it would be an avenue for dignified jobs.

For a better society

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