LASG builds leather hub for N4bn
By Adeola Ogunrinde
The Lagos State government has said a total of N4bn was spent to build the State’s Industrial Leather Hub.
The project was said to be 90 percent completed and would be commissioned soon.
Commissioner for wealth creation and Employment, Akinyemi Bankole Ajigbotafe, made this known during 2024 Ministerial press briefing where he gave the account of the activities of the ministry in the last one year.
Ajigbotafe said the state government is tackling challenges militating against the growth and development of Nano, Micro, Small and Medium Scale businesses.
He added that State government have come up initiatives to aid informal sector, startups, artisans and entrepreneurship development.
“One of such major initiatives is the establishment of Industrial Hubs, which entails creating a congregation of related enterprises in an ‘dent fed location for enhanced Productivity, Wealth Creation and Business Development through provision of access to business accommodation, workshop, standard equipment and infrastructural facilities at affordable costs. A multiplier effect is to create value chains in such enterprises such as Leather works.
“The State Government is about to complete the construction and development of Lagos Industrial Leather Hub at Matori, Mushin, to create employment, develop capacity of artisans and provide necessary equipment and infrastructure for MSMEs operating in the leather value chain. The Hub facilities include the Production Area w th industrial equipment (for mass production of Leather products) and Shopping area that comprises Shops Training rooms, Work stations, Office Space, Showroom etc. Currently, the project is about 90% completed and it is billed to be commissioned soon.”
Ajigbotafe also noted the Lagos State Employment Trust Fund which was established by the Lagos State Employment Trust Fund Law 2016, to tackle unemployment and promote entrepreneurship in Lagos State has empowered its residents with job and wealth creation opportunities.
He said the MSME loan programme attracts a five to nine percent interest rate per annum, adding that it is available to business owners who are registered residents of Lagos.
“In 2023, we disbursed N859 million to 1,271 MSMEs in the state. This support helped these businesses grow, creating 51, 822 direct and indirect jobs in Lagos state.
“The LSETF implements this initiative in partnership with international development orgonizatons such as the United States African Development Foundation (USADF) and United Nations Development Programme . In 2023, LSETF also trained 2,170 young persons across various vocational trades, and 1,172 were placed in jobs”, said Ajigbotafe.
