LASG disburses N10 billion to entrepreneurs through LSETF

By Adeola Ogunrinde

The Lagos State Government, through the Lagos State Employment Trust Fund (LSETF), has disbursed N10 billion to entrepreneurs to support their businesses and create jobs for Lagosians.

This was announced by the Acting Executive Secretary of LSETF, Feyisayo Alayande, in anticipation of the upcoming Lagos State Employment Trust Summit 3.0, scheduled for July 3 at Eko Hotel and Suites, Victoria Island.

Alayande revealed that 86% of the disbursed amount has already been repaid, with 500,000 businesses supported and 220,000 training sessions conducted for entrepreneurs.

The summit aims to showcase the state’s efforts in job creation and to foster collaboration with the private sector to bridge the employment gap.

The LSETF has been actively partnering with stakeholders to address job scarcity. Alayande noted that various speakers have been selected to speak at the summit, highlighting the agency’s initiatives, including a business support program offering free legal support and business orientation for entrepreneurs.

Further, the agency plans to launch the Labour Management Information System, which will provide Lagosians with information on the latest job opportunities in the market.

Gboyega Akosile, the Special Adviser on Media and Publicity to Governor Babajide Sanwo-Olu, commended the LSETF’s achievements in creating job opportunities, aligning with the THEMES+ agenda of Sanwo-Olu’s administration.

Ruby Igwe of ALX Africa, a partner in this year’s summit, expressed the organization’s enthusiasm in collaborating with LSETF to provide dignified jobs and training for Nigerians.