In partial fulfillment of his administration’s commitment towards job creation and empower SMEs and start ups in the state, the Lagos State Governor, Mr Akinwumi Ambode, on thursday, 26th of January, 2017, presented cheques worth over N1billion to 705 beneficiaries out of the N25 billion earmarked by the state government for the Employment Trust Fund, ETF pilot scheme.
Governor Ambode, who made the presentation at the LTV Blue Roof, in Ikeja, Lagos, said his administration identified employment as a major socio-economic challenge facing the state and the country. The Governor said setting up of the ETF empowerment scheme was a direct response to addressing the challenges of unemployment, as well as providing support to the youths, entrepreneurs, artisans and other unemployed residents in the state.
He added that funds are targeted at empowering small and medium scale businesses and vocations such as carpenters, hairdressers, electricians, automobile parts repairers, block makers, bakers, fashion designers, cake makers, food sellers, mobile money agents and others. He further charged the beneficiaries to utilize the funds responsibly to grow their businesses, create jobs for the unemployed youths and contribute to the growth of the economy of the state.
Mr Ambode while speaking, also expressed optimism that the target by the ETF board to empower at least 100,000 micro, small and medium enterprises will be achieved in due course, and that the multiplier effect would result in the creation of over 300,000 direct and 600,000 indirect jobs by 2019.