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LSETF created 15,000 jobs in two years – Oyebode

LSETF created 15,000 jobs in two years – Oyebode

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Sesan Olufowobi

The Executive Secretary of the Lagos State Employment Trust Fund (ETF), Mr Akintunde Oyebode, on Tuesday said about 15,000 jobs had been created by the fund in the last two years.

Oyebode stated this during the visit of some Masters research students to his office, adding that no fewer than 8,000 Micro, Small and Medium Enterprises (MSMEs) had accessed about N6bn since the inception of the ETF, which was initiated by Governor Akinwunmi Ambode.

He said the Ambode administration had earmarked N25bn to be disbursed over a period of four years to provide entrepreneurs, artisans, traders and others with capital to boost their businesses in order to reduce unemployment.

“Since its commencement in 2016, the ETF has continued to grow the economy and create jobs through provision of credit,” Oyebode added.

The ETF boss further explained that the fund was targeted at creating 300,000 direct and 600,000 indirect jobs within three years by supporting at least 100,000 MSMEs, while it also seeks to add over 200,000 new tax payers to the Lagos State’s tax net by 2019.

“The ETF is primarily targeted at MSMEs and in the last two years, we have been able to fund about 8,000 businesses with over N6bn. Our target is to increase that number to 15,000 before the end of the year.

“The impact of the fund is already been felt as it has created about 15,000 direct jobs and thousands of indirect jobs for unskilled persons. The target to create 300,000 direct and 600,000 indirect jobs is on course.

“The underlining factor is that people with genuine businesses are keying into the fund. We believe that when we empower one business owner with fund, he or she would require more hands and that will translate into one or two persons off the labour market. As the businesses are expanding, the economy of the state will also record appreciable growth.”

Oyebode said aside from the ETF, the government through the Lagos State Employability Support Project had concluded plans with some multinational companies and the United Nations Development Programme (UNDP) to produce 10,000 skilled persons within three years to cater to demands in key sectors such as manufacturing, healthcare, construction, entertainment and tourism.

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