The Nation Newspaper

Tag: Employment Trust Fund (ETF)

  • Ambode, Udom, Fayose seek more support for women

    Ambode, Udom, Fayose seek more support for women

    Gov. Akinwunmi Ambode of Lagos State on Tuesday called for deliberate and articulate policies to support female entrepreneurs in the country.

    Ambode made the call at the 17th National Women’s Conference organised by the Committee of Wives of Lagos State Officials ( COWLSO ) with theme “She creates, She Transforms: Creativity and Skill Acquisition.”

    He spoke as the first female mechanic in Nigeria, Mrs Sandra Aguebor, was presented with the inspirational woman of the year award at the conference.

    “With the female population in our country today, it is clear that our women have the capacity to positively affect the Nigerian economy and are already doing so.

    “Supporting women businesses should no longer be seen as a social support or empowerment, but as a necessary step to revive and improve the economy,” Ambode said.

    He said that so far, N2.1 billion had been disbursed to 6,613 women under the state’s Employment Trust Fund (ETF), which represented 42 per cent of the total loans disbursed.

    According to him, the target is to ensure that at least 60 per cent of the loans are given to women.

    He restated the commitment of his government to the course of women, encouraging more women to approach the ETF and take advantage of other initiatives to support their businesses.

    Also, Gov. Udom Emmanuel of Akwa Ibom commended the committee for keeping the vision envisioned for over 17 years.

    Emmanuel condemned racial, tribal and gender inequality, saying that the country needed to open more doors for women.

    He encouraged women not to look at the limiting lines drawn by history or politics, but rather live their lives creating and transforming.

    In a goodwill message, Gov. Ayodele Fayose of Ekiti State said that efforts must be made to constantly develop women.

    “A life without women will be full of crisis, it will be hopeless,” Fayose said.

    He advised men to stop seeing women as second fiddle.

    The Gov. Seriake Dickson of Bayelsa and Gov. Godwin Obaseki of Edo were also present at the event.

    NAN

  • Ambode presents N924.7m cheques to 1,438 ETF beneficiaries

    Ambode presents N924.7m cheques to 1,438 ETF beneficiaries

    …Targets 20,000 recipients by December

    Lagos State Governor, Mr Akinwunmi Ambode on Tuesday presented cheques totaling N924.7 million to 1, 438 beneficiaries of the Employment Trust Fund (ETF) scheme initiated by his administration to provide entrepreneurs, artisans, traders and others with capital to boost their businesses thereby reducing unemployment and increasing wealth among the people.

    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.

    Governor Ambode had in January presented cheques totaling about N1billion to 705 beneficiaries who were selected after scaling through a transparent screening process.

    Speaking at the presentation ceremony held at De Blue Roof, LTV 8 in Ikeja, Governor Ambode 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.

    Governor Ambode, who was represented by the Commissioner for Wealth Creation and Employment, Dr. Babatunde Durosinmi-Etti, made particular reference to one of the earlier beneficiaries simply identified as Jand2Gidi, saying that it was a thing of joy that they have started contributing to the growth of Lagos economy.

    “One of the success stories of this programme which I am very proud of is the achievement of one of the first set of beneficiaries, a company called Jand2Gidi, run by two young women.

    “Today, they have invested their loan in buying motorcycles for their delivery men, and hired people to operate those motorcycles. Not only are they repaying their loan, they have also created at least 10 direct jobs for Lagos residents, thereby increasing the economic activity across the State. We eagerly expect to celebrate many more success stories like this,” the Governor said.

    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.

    While congratulating the new 1,438 beneficiaries, the Governor charged them and other potential beneficiaries to emulate those who are repaying their loans, thereby ensuring the success of the program

    He said: “It is only when you pay your loans back, and grow your businesses, that we can truly celebrate the success of this program. Your success is our success, and together we will grow Lagos State’s economy and create jobs for our residents.

    “This initiative is another example of taxpayers’ money working for the people. I cannot thank enough all taxpaying citizens for providing the resources from which the State Government contributes N6.25billion tranches annually to the N25billion Employment Trust Fund.”

    Besides, Governor Ambode urged other existing businesses or people desirous of starting one to take advantage of the scheme, assuring that the process of assessing and selecting beneficiaries would continue to be transparent and meet globally acceptable standards.

    In her opening remarks, Chairman, Board of ETF, Mrs. Ifueko Omoigui-Okauru said the presentation ceremony was another milestone by Governor Ambode’s administration, saying that the vision of the Governor in setting up the Fund, which is the first of its kind in Nigeria, and his unwavering commitment to its success deserved commendation.

    Omoigui-Okauru also revealed a partnership between the Lagos State Employment Trust Fund (LSETF) and the United Nations Development Programme (UNDP) to improve technical and vocational training in the State.

    Under the programme, she said the LSETF will contribute Naira equivalent of $3million, while UNDP will contribute $1million and the funding will be used to train eligible Lagos residents in manufacturing, construction, healthcare, hospitality and entertainment, while successful trainees will be placed in jobs at the completion of the programme.

    Responding on behalf of beneficiaries, Mr O.A Goriola of November 16 Nig Ltd, commended the State Government for the initiative and pledged that the funds would be judiciously utilized.

     

  • We’ll commence disbursement of N25bn ETF in December – Ambode

    We’ll commence disbursement of N25bn ETF in December – Ambode

    …Artisans, traders, others to get access to fund

    Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday said the State Government will commence the disbursement of the N25billion Employment Trust Fund (ETF) initiative of his administration by December, 2016.

    Governor Ambode, who spoke in Lagos at the graduation ceremony for 500 artisans trained by the State Government on modular employability programme in nineteen different trades, said the informal sector remains a critical vehicle for economic recovery, adding that Government was passionately committed to repositioning the sector for economic gains.

    He said the N25billion ETF, which would be disbursed for the next four years on N6.25billion annual basis, was one of the initiatives designed to empower the informal sector, adding that government was open to ideas and strategies that would aid sustainable growth of the sector.

    “Let me tell you clearly that the N25bn ETF is for artisans and entrepreneurs in Lagos State. We will commence disbursement from the month of December, 2016 and let me assure you that a larger percentage will go to our carpenters, our tailors, our hairdressers, our vulcanizers, and so on. Everybody that is a tradesman and is an artisan in Lagos will have automatic access to the Employment Trust Fund (ETF),” Governor Ambode said.

    Speaking at the event which also coincided with the 7th Tradesmen and Artisans’ Week, the Governor said the ETF was an initiative with the cardinal mandate to support the establishment and growth of small businesses to create job opportunities for the people, adding that soft loans would be provided to genuine and credible artisans and traders in the State.

    Besides, the Governor said it was now time for conscious and concerted efforts to re-engineer the mindsets of young ones and advance entrepreneurs with the view to repositioning them to face modern challenges, saying that except focus is shifted to equip and rebuild the informal sector, members would not be vibrant enough for the prevailing realities of the moment.

    He assured that his administration would not sit and wait for oil prices to rebound in the international market before arriving at a solution to the challenges confronting the state, hence the need for the ETF and other initiatives.

    On the training for artisans, Governor Ambode said such was one of the platforms for recognizing and projecting the significant contributions of the informal sector as a vehicle for economic development, adding that government was equally mindful of the fact that artisans were the major players and the conveyor belt for industrial enterprise in the country.

    While urging the newly trained artisans to leverage on the strategic position of Lagos as the contributor of 25 percent of the total GDP of Nigeria and 5th largest economy in Africa, Governor Ambode said the training which they passed through was designed to address this skills mismatch and provide the right mix of skills needed to service the industrial needs of the State.

    Responding to requests by artisans through their representatives, Governor Ambode approved that the beneficiaries of the training should be increased to 1,500 artisans next year and a yearly subvention of N12million and brand new operation bus for the Lagos State Council of Tradesmen and Artisans (LASCOTA), among others.

    Earlier, Commissioner for Wealth Creation and Employment, Mr. Babatunde Durosinmi-Etti said the 500 artisans were re-trained and up-skilled on eight weeks intensive programme solely sponsored by the State Government for better service delivery.

    On his part, LASCOTA Chairman, Alhaji Nurudeen Buhari thanked Governor Ambode for the various efforts aimed at improving the productivity of artisans in the State, especially the Tradesmen and Artisans’ Empowerment Programme (LASTEAP), saying that the continuous training had impacted positively on their productivity and enhanced them economically.

  • We’ll not discriminate in disbursement of N25bn ETF – Ambode

    We’ll not discriminate in disbursement of N25bn ETF – Ambode

    Lagos State Governor, Mr. Akinwunmi Ambode on Thursday assured that his administration, through the Board of the Employment Trust Fund (ETF), has put in place a robust process of disbursing the N25 billion earmarked to provide succor for small scale businesses and people with innovative business ideas, just as he expressed optimism that the Fund would drastically reduce unemployment and ensure sustainable wealth creation.

    Governor Ambode, who spoke at the Ikeja Airport Hotel in Lagos at the first Stakeholders’ Summit organized by the State’s Ministry of Wealth Creation and Employment, said the only criteria for accessing the fund is to be a resident in the State with marketable business idea, adding that there would not be discrimination based on colour, gender or creed.

    The Governor, who was represented by his Deputy, Dr. (Mrs) Idiat Oluranti Adebule, said apart from the fact that credible and experienced Nigerians were appointed into the ETF Board, the entire process of accessing the fund has equally been designed to be “credible, transparent, accountable and not discriminate on account of gender, religion, physical ability or disability, political affiliation and socio-economic background.”

    Both the ETF and the Ministry of Wealth Creation and Employment were created by the Ambode-led administration in the State, and they were designed to tackle unemployment with the sole mandate of reducing it to a barest minimum.

    Already, the yearly contribution of N6.25 billion for Year 2016 to the Fund has been released by the State Government, while the disbursement would kick-off in earnest.

    Speaking on the summit with the theme: “Strengthening Partnership For Employment Opportunities and Wealth Creation in a Competitive Environment,” Governor Ambode said the summit was a platform initiated to generate ideas, harmonize strategies and device strong partnership for sustainable wealth creation.

    While urging participants at the summit to come up with ideas and suggestion that would add value to the strategy guiding the design and implementation of sustainable programmes for harnessing the opportunities for job and wealth creation, the Governor assured that his administration would favourably consider the recommendations from stakeholders.

    He added that his administration strongly believes in creating potential and innovative capacity for the youths, especially by providing support and creating conducive environment for the innovative ideas to thrive, thereby bringing about employment opportunities and sustainable wealth creation.

    Besides, Governor Ambode said the economic challenges facing Nigeria as a result of dwindling revenue from crude oil, presents a unique opportunity to chart a new direction for sustainable economic growth, adding that part of it was what his administration has been to support the establishment and growth of small businesses to create job opportunities and generate wealth for the collective prosperity of all.

    In his goodwill message, Vice President Yemi Osinbajo commended Governor Ambode for his laudable achievements in infrastructure renewal and security.

    The Vice President, who was represented by the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, said infrastructure renewal and security were the necessary ingredients for sustainable wealth creation and generation of employment which equally are the basis for long term progress.

    In her keynote address, Chairperson of the Lagos State ETF Board, Mrs. Ifueko Omoigui Okaru said Nigeria must create about 1.5 million jobs quarterly to keep the number of unemployed people flat, adding that as a way out, there must be an effective collaboration between government and the private sector to come up with solutions.

    Okaru, who lamented that many Nigerians were spending time to acquire certificates that are of no value, said the people must be encouraged to look around for opportunities and come up with innovative solutions to problems.

    She also advocated the need for order and discipline in the society, saying such would also go a long way in creating job opportunities.

    Speaking on the ETF, Okaru said government would soon embark on disbursement of the fund, adding that at the moment the board was putting in place necessary foundation to build trust and credibility.