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Lagos pledges proper allocation of empowerment fund

13 January 2016, 14:06Augustine Osayande

Abuja - Lagos State has pledged to ensure equitable distribution of the N25 billion Empowerment Trust Fund (ETF).

Senior officials said this would be accessible to every qualified citizen who had convincing business ideas and innovations irrespective of status, locations, beliefs or political affiliation.

A board comprising of individuals from private sector with proven integrity and  experience would handle the project, State Commissioner for Wealth Creation and Employment, Babatunde  Durosinmi-Etti, explained.

The official said the decision to inject the fund was to grant soft loans to young entrepreneurs within the next four years.

The interest rate of about 1 percent administrative charges, which is considered among the lowest in the country and the whole of  West Africa.

Durosinmi-Etti said the state government would assist in making other job areas attractive through provision of good environment for business activities.

This would be instead of allowing the populace to concentrate on the few available job areas like the multinationals, oil companies, banking sectors and the civil service.

Also Read:LASG apprehends suspected female human trafficker, 4 victims

Durosinmi-Etti traced the history of the high rate of unemployment to non inclusion of skills acquisition programme into the school curriculum.

"When examining the issues of unemployment, it is pertinent to study it from the indices perspective," the executive said.

There is disaggregated unemployment, underemployment and structural unemployment, it was noted.

"This implies that there are graduates seeking for employment where their expertise is not needed but are bent on having such jobs because of the monetary turnovers," added the commissioner.

Durosinmi-Ettipledged the determination of the present administration to address the skill gap deficiency in the state through investment in skills acquisition centres.

Durosinmi-Etti pleaded with Lagosians to give the change mantra in the state a chance.

"Lagos will be the cynosure of all eyes in eradication of unemployment."

- CAJ News


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