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- In a determination to boost occupation creation, the Lagos State Employment Trust Fund has renewed the MOU with the USAID to bid 10,000 Lagos residents
- The authorities has besides disbursed loans to 4,600 MSMEs done the bureau successful the past year
- These steps are expected to trim unemployment successful the authorities and link idle Lagosians with gainful employment
Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.
The Lagos authorities authorities is leaving nary chromatic unturned successful the thrust to trim unemployment successful the state.
The authorities has disbursed loans to 4600 Micro, Small and Medium Enterprises (MSMEs) wrong the past year.
The loans disbursed by the Lagos State Employment Trust Fund (LSETF) successful 2024 amounted to N1.17 billion.
Source: Getty Images
The Honourable Commissioner for Wealth Creation and Employment, Mr. Akinyemi Ajigbotafe, confirmed that the repayment complaint has been arsenic precocious arsenic 91% successful the past year.
Speaking astatine the Ministerial Press Briefing held astatine the Bagauda Kaltho Press Centre to commemorate the sixth day of Governor Babajide Sanwo-Olu's Administration successful Lagos State, Ajigbotafe noted that this is simply a large boost to commercialized activities successful the state.
Lagos authorities partners USAID to bid 10,000 youths
Ajigbotafe stated that the LSETF has besides provided 82 tiny businesses with entree to marketplace opportunities successful the state, portion besides grooming and securing employment for 6, 685 residents done its programmes.
Another ₦558.56 cardinal was disbursed arsenic grants to enactment immoderate Lagos-based businesses.
He added that the LSETF has besides renewed the Memorandum of Understanding (MoU) with the United States African Development Foundation (USADF) to bid 10,000 Lagosians.
At the extremity of the training, astatine slightest 60% of the participants volition beryllium placed into gainful employment.
Lagos authorities disburses N1.17 cardinal to 4600 MSMEs
Providing much details into the loans, the Executive Secretary of LSETF, Feyisayo Alayande stated that by providing finances for the MSMEs, the bureau had helped make 48,830 nonstop and indirect jobs wrong the year, portion besides assisting to clasp 34,542 existing jobs.
Several of the beneficiaries person gone beyond self-employment to employment others, frankincense reducing unemployment successful Lagos state.
She added that the bureau is besides pursuing up intimately with the remaining beneficiaries to unafraid payments connected the remaining 9%.
Alayande called connected those facing concern challenges to prosecute with the LSETF up of their indebtedness deadline to forestall enforcement actions.
Lagos authorities partners Opay, Cowrywise to empower women
Legit.ng earlier reported that the Lagos authorities authorities entered a concern to beforehand fiscal inclusion and empowerment for women crossed Lagos.
Since its conception past year, the programme has reached 12 communities successful hard-to-reach areas and riverine communities successful Lagos.
Source: Getty Images
This determination by the authorities is successful furtherance of the Lagos authorities THEMES + docket to empower women.
It besides furthers the docket of the Bank of Industry (BOI) successful providing targeted loans for women.
FG opens applications for N60k MSME loans
In related news, Legit.ng reported that the national authorities received implicit 60,000 applications for the 2025 MSME awards.
Winners of the grant volition spell location with astir N700 cardinal worthy of prizes, including cars, shops and houses.
For the 2025 edition, a caller class has been added for people surviving with disabilities.
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Source: Legit.ng
