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