The Lagos State Employment Trust Fund (LSETF) has disbursed N10 billion to small and medium-sized enterprises (SMEs) throughout the state. Acting Executive Secretary, Feyisara Alayande, shared this announcement at a press briefing held at the Bagauda Kaltho Press Centre, Alausa.
Speaking ahead of the third Lagos Employment Summit, Alayande outlined the event’s agenda and objectives. The one-day summit, themed “Job Creation – Uniting for Impact: Create, Collaborate, Change,” is scheduled to take place on Wednesday at Eko Hotels and Suites, Victoria Island.
Alayande highlighted the LSETF’s commitment to supporting businesses, stating, “Since we began operations, we have provided substantial support to businesses through funding, totaling approximately N10 billion in seed capital and business financing across various sectors. Additionally, we have conducted entrepreneurial training for around 220,000 Lagosians and supported about 500,000 businesses.”
In a significant move to combat unemployment, Alayande announced the launch of a Labour Management Information System at the upcoming summit. This initiative aims to provide comprehensive employment data and serve as a resource for job seekers and employers alike. “Our goal is to ensure that anyone seeking employment data has a reliable source. We encourage job seekers and employers to utilize this platform,” she added.
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The summit aligns with Governor Babajide Sanwo-Olu’s commitment to empowering the SME community and fostering economic growth. Gboyega Akosile, Special Adviser to the Governor on Media and Publicity, emphasized that the summit is part of the government’s developmental agenda to create value, generate wealth, and scale up businesses across the state. He urged residents to take advantage of the program and its offerings.
The LSETF continues to play a crucial role in enhancing business opportunities and employment in Lagos, reflecting the state’s dedication to reducing unemployment and supporting entrepreneurial endeavors.
