ETF: Lagos grants 1,438 applicants N924.7M

Lagos State Government on Tuesday presented cheques totaling N924.7 million to 1, 438 beneficiaries of the Employment Trust Fund (ETF) scheme initiated by the State Government for entrepreneurs, traders and others to reduce unemployment.

Speaking at the presentation ceremony held at De Blue Roof, LTV 8 in Ikeja, the State Governor, Mr. Akinwunmi Ambode, represented by the Commissioner for Wealth Creation and Employment, Dr. Babatunde Durosinmi-Etti, expressed delight that the government was on course to meet the objectives of the initiative, adding that it was also encouraging that the previous beneficiaries have started repaying their loans, thereby expanding their businesses and creating jobs.

The Governor, who commended the ETF Board for the good work done so far, equally charged them to increase the pace of work and ensure that by the end of 2017, at least 20,000 businesses would have benefited from the loan program, just as he expressed optimism that the overall target of the scheme would be met by 2019.

So far, about 4, 000 businesses have benefited a total of N3.5billion from the scheme, while the target of the State Government is to support about 100,000 micro, small and medium enterprises and create at least 300, 000 direct and 600, 000 indirect jobs by 2019 through the initiative.

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