Ayodele Olalere
The Lagos State Government says it has reduced the rate of unemployment in the state in the last one year, while support had been given to over 2,000 businesses.
According to the state government, this feat was achieved through the Lagos State Employment Trust Fund (LSETF).
At the ongoing 2020 Ministerial briefings to mark the one year anniversary of Governor Babajide Sanwo-Olu’s administration, on Thursday, it was disclosed that the State government had supported 2,204 businesses as a way of ensuring that unemployment in the state was reduced to barest minimum.
The state’s Commissioner for Wealth Creation and Employment, Mrs. Yetunde Arobieke, while giving her stewardship in the last one year said “LSETF serves as an instrument to inspire the creative and innovative energies of all Lagos residents and reduce unemployment across the state.”
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“For the period between May 29,2019 and May 29, 2020, LSETF had supported 2,204 businesses. Loans programme-,1,167, employability-967 and Lagos innovates-70,” she said.
Arobieke further said that through LSTEF, the state government organized Employment Summit in February, 2020, with the “objective of influencing government policy to improve results and outcomes for target groups such as women, youth and enterpreneurs.”
She noted participants at the the summit participants were carefully selected, and “strategies that promote job creation through skills development, applied technology and entrepreneurship were discussed and solution proffered.”
In the wake of Covid -19 pandemic, Arobieke also disosed that the Fund has put measures in place to ameliorate the impact of coronavorus on loan beneficiaries, adding for the beneficiaries to have access to the loan, they would have to apply for moratorium on repayments.
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“Lagos State Employment Trust Fund Loan beneficiaries can now apply for a moratorium on their loan repayments. For the avoidance of doubt, only performing loan beneficiaries and beneficiaries with past due obligations of not more than 60 days can apply,” she said.
The Commissioner also noted that the Fund would support SMEs as a way of saving jobs, adding that the ministry would organize private internship programme that would offer 4,000 unemployed youth training.
“The training which would be for a month and six months harps on work experience in the private sector towards potential full-time employment.
“Prospective participants would be harvested from the databases of the five job centres covering the 57 local governments and local council development areas,” the Commissioner stated.
