N25bn ETF: Lagos targets 100,000 entrepreneurs by 2019

The Lagos State Government yesterday said that its N25 billion Employment Trust Fund (ETF) will provide financial support to over 100,000 Micro, Small and Medium Enterprises (MSMEs) within the next three years.

The Executive Secretary of the Lagos State Employment Trust Fund (LSETF), Mr. Akintunde Oyebode, who spoke while briefing journalists at Alausa said the fund, was in line with Governor Akinwunmi Ambode’s vision to create employment and entrepreneurship opportunities for all Lagosians.

Acknowledging the fact that Lagosians are eagerly awaiting the commencement of the fund, especially with the challenging economic recession, the Executive Secretary said the board set up to manage the funds had spent the last few months perfecting strategies and addressing grey areas ahead of the commencement of the disbursement of the funds later this year.

Explaining further, he said the Board of Trustees embarked on several strategy sessions to define the mission, vision, core values and strategic framework to guide the Fund’s activities.

“After the completion of the research exercise, the Board working with its appointed consultants developed a strategic framework articulating the goals of the Board, the key interventions designed to enhance job creation, and the supporting infrastructure needed to deliver the set goals. This exercise has now been concluded and approved by the Lagos State Executive Council,” he said.