Employment Trust Fund, ETF set up by the Lagos State government by the governor Akinwunmi Ambode to empower, train and engage youths across the state and to boost the state Gross Domestic Product, GDP.
Governor A. Ambode, has disclosed that N25 billion Employment Trust Fund, ETF, set up by his administration has successfully empowered and support over 4,000 small and medium scale enterprises, SMEs across the state local government.
Governor A. Ambode stated that driving entrepreneurship growth was strategy and pivotal to empowering and engaging youths with the objective to strengthen them economically and socially for them to contribute their quota to growth of the nation’s economy.
Governor A. Ambode gave the statistics on Wednesday when a delegation from Legatum Center for Development and Entrepreneurship, Massachusetts Institute of Technology (MIT) paid him a courtesy visit at the State House, Alausa secretariat, Ikeja, the capital of the state.
At the meeting, Mrs. Georgina Flatter, the Executive Director of Legatum Center for Development and Entrepreneurship, Massachusetts Institute of Technology (MIT), said the delegation was in Lagos to liaise with entrepreneurs in the State and build sustainable partnerships with the state.
That the delegation had spent the last few days touring the state, visiting entrepreneurs and ventures, describing the experience so far as most inspiring for the delegation.
Governor A. Ambode asserted that, “There is no way under this economic recession that we have found ourselves that we can actually employ all the people under that age bracket. So the best thing is to create a framework that would allow them to dissipate their energy and creativity into the things that they would love to do.
“That’s why we set up the Employment Trust Fund with a budget of N25 billion to be able to touch those younger ones that would not necessarily have the capital to recreate their skills and so far so good in the last two years we have done almost about 4000 entrepreneurs and we are doing more,” he said.