The LSETF will directly invest N25 billion in helping Lagos residents grow and scale their SMEs, or acquire skills to get better jobs. Learn more.
The Lagos State N25 billion Employment Trust Fund, will facilitate access to funding, for over 100,000 entrepreneurs in the state. However, training the entrepreneurs is an important part of the process. Akin Oyebode, Executive Secretary of the Lagos State Employment Trust Fund joins CNBC Africa in an interview. Learn more.
Quite simply, the Lagos State government has created a N25 billion fund to invest in the businesses of small and medium scale entrepreneurs who currently reside in Lagos. The fund will also help to train residents, to qualify them for better jobs.
The initiative is the brainchild of Governor Akinwunmi Ambode. It was created to bridge the employment gap in Lagos State and serve as an instrument to galvanise the creative and innovative energies of all Lagosians
The fund will energize the economy in many ways: by removing constraints to production and supporting businesses to grow; and by ensuring the availability of a competent work force to ensure businesses find the right people to hire.
The Fund will use various interventions to boost job creation in Lagos State, energize the Lagos economy to boost the state’s production, support various initiatives designed to make Lagos a preferred investment destination and support Lagosians seeking to start or run their businesses and unemployed Lagosians who lack the skills to take existing jobs.
It is headed by Mrs Ifueko Omoigui Okauru and the Executive Secretary is Akintunde Oyebode. Other members include Mr Dele Martins, Tunde Bank-Anthony, Mrs Bilikiss Adebiyi-Abiola, Mr Otto Orondaam, Pastor Funmi Dawodu (FCA), Comrade Michael Popoola Ajayi, Mr. Akinyemi Ashade, and Mr Tunde Durosinmi-Etti.