Lagos State Governor, Mr. Akinwunmi Ambode, says the N25billion Employment Trust Fund (ETF) set up by his administration has successfully empowered over 4000 small and medium scale businesses in the last two years to boost the economy of the State.
Speaking on Tuesday when he received a delegation from Legatum Center for Development and Entrepreneurship, Massachusetts Institute of Technology (MIT) on a courtesy visit at the Lagos House in Ikeja, Ambode said deliberate efforts have been made by his administration to aid businesses and encourage budding entrepreneurs in the State.
Amobode said the Employment Trust Fund with a budget of N25billion was set up to be able to touch those younger ones that would not necessarily have the capital to recreate their skills and so far in the last two years about 4000 entrepreneurs have been empowered.
While welcoming the partnership prospects with MIT, Governor Ambode said he was excited that the Legatum Center had finally discovered the importance of the African continent as a key part of the map to driving innovation as well as entrepreneurship and Lagos as one of its major city partners.
Besides, the Governor said that the setting up of the Ministry of Wealth Creation and Employment was in consonance with the ideals of the Legatum Center, assuring that his administration would do all it can to sustain the partnership beyond entrepreneurship.
Earlier, in her remarks, Executive Director, MIT, Mrs. Georgina Flatter said the team was in Lagos to liaise with entrepreneurs in the State and build sustainable partnerships going forward.
She said the MIT team had spent the last few days touring eco systems and visiting entrepreneurs and ventures across Lagos, describing the experience so far as most inspiring.