Follow Us on Google
By Lukman Olabiyi
Lagos State Employment Trust Fund (LSETF) has disbursed more than ₦15 billion in loans to businesses in the state over the past 10 years, while supporting thousands of young people through skills development and entrepreneurship programmes.
The Commissioner for Wealth Creation and Employment, Mr Akinyemi Ajigbotafe, disclosed this at a pre-summit briefing ahead of the fourth Lagos State Employment Summit scheduled for Wednesday next week.
Ajigbotafe said the Fund, established in 2016, had disbursed more than 20,000 loans, trained over 30,000 young people and supported more than 1,200 technology start-ups, recording a loan repayment rate of over 94 per cent.
He said the achievements reflected the state government’s commitment to tackling unemployment, strengthening businesses and expanding economic opportunities for residents.
According to him, the forthcoming summit, themed, “Lagos Works: Building Africa’s Most Productive City,” will provide a platform for stakeholders to examine strategies for employment generation, skills development, enterprise growth and adapting to the changing world of work.
He added that activities lined up ahead of the summit would include an access-to-market activation from November 13 to 15, an innovation day and a job fair at the University of Lagos.
The Permanent Secretary in the Ministry of Wealth Creation and Employment, Mrs Lolade Aina, said the summit would provide an opportunity for stakeholders to develop practical strategies for equipping Lagos residents with relevant skills and expanding access to employment opportunities.
She stressed the importance of aligning skills development initiatives with the demands of the labour market to improve residents’ employability and productivity.
Similarly, the Executive Secretary of LSETF, Mrs Feyisayo Alayande, called for stronger collaboration among government, employers, educational institutions and private sector players to prepare the workforce for emerging opportunities.
She said coordinated efforts among stakeholders were critical to building a productive workforce capable of responding to changing economic realities and the demands of the future workplace.
