The Governor of Lagos State, Mr. Akinwunmi Ambode on Thursday gave our cheques worth over N1billion to 705 beneficiaries of the Lagos State Employment Trust Fund (ETF) pilot scheme.
In his remarks, he urged beneficiaries to utilise the funds responsibly by expanding their coasts so as to grow their businesses, create jobs for the unemployed youths and contribute to the growth of the Lagos economy.
Ambode said his administration is aware of the embers of unemployment as a major socio-economic challenge facing Lagos State and Nigeria as a whole in the course of the electoral campaign, and thus prioritised job creation.
According to him, the ETF was a direct response to address the challenge of unemployment as well as provide support to the youths, entrepreneurs, artisans and other unemployed residents of the State.
While vowing that “We have kept our word. We created a dedicated Ministry of Wealth Creation and Employment, whose mission is to promote and sustain entrepreneurship and employment,” he commended the Board and Management of the Fund for embarking on a comprehensive review of the business environment and developing a strategic framework and operating guidelines to ensure the sustainable and successful management of these funds, said the successful disbursement was a product of the painstaking effort.
The Governor explained further that the funds are targeted at small and medium scale businesses and individuals including carpenters, hairdressers, electricians, automobile parts repairers, block makers, bakers, fashion designers, cake makers, food sellers, kerosene retailers, mobile money agents, painters, plumbers, photographers and light manufacturers of liquid soaps and water among others.
“These beneficiaries are making history as the first set of beneficiaries of this Employment Trust Fund, and my charge to you is simple: You must use these funds responsibly, grow your businesses, create jobs for our unemployed youths and contribute to the growth of the Lagos State GDP. The idea is that for every N1million we disburse, we should create a minimum of five jobs around that business value chain.
