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Tag: Lagos State Employment Trust Fund

  • Abisoye is LSETF’s Acting Executive Secretary

    Lagos State Governor Akinwunmi Ambode has appointed Mrs. Teju Abisoye as the Acting Executive Secretary (ES) of the Lagos State Employment Trust Fund (LSETF) with effect from April 1, pending confirmation by the Lagos State House of Assembly.

    Prior to her appointment, Director, Strategy, LSETF, Abosede Alimi, in a statement, said Mrs. was director of Programmes and Coordination at the LSETF.

    In this role, she was responsible for the delivery of targeted programmes designed to enable access to finance and financial inclusion for Micro, Small and Medium Enterprises (MSMEs); as well as enable skills development and other structured interventions to boost job and wealth creation in Lagos State.

    Commenting on the appointment, the Chairman of the LSETF, Mrs. Ifueko M. Omoigui-Okauru, said: “We are pleased to have Teju assume the role of the Executive Secretary of the fund. Teju brings to this role her superior understanding of the vision, core values and strategies of the LSETF as she has been at the forefront of coordinating the delivery of the fund’s programmes. She has demonstrated exemplary leadership, deep knowledge of the interventions needed to tackle unemployment and about gender parity.”

    Also commenting, Mrs. Abisoye expressed her commitment to achieving the fund’s mandate of job creation and tackling unemployment.

    “I am grateful to Ambode for the confidence reposed in me to serve in this role and to direct the affairs of the trust fund. I am very grateful to my predecessor and the pioneer Executive Secretary of the fund, Mr. Akin Oyebode, for his exemplary leadership and laying the foundation for me to build on. I look forward to leading the team and strengthening the impact of our work in the State.”

    Mrs. Abisoye is a lawyer with extensive experience in development finance, project planning, execution, monitoring and evaluation of humanitarian projects, government interventions and investment opportunities.

  • LASG presents cheques to over 2,000 beneficiaries of LSETF

    Over 2,000 Lagosians on Monday benefited from the Lagos State Employment Trust Fund (LSETF), as they were presented with cheques ranging from N200,000 to over N500,000 by the State government as loans to start their businesses.
    With Monday’s disbursement of the loans, the state government through LSETF,  according to Governor Akinwunmi Ambode has now disbursed over N7 billion in loans while the total beneficiaries have also increased to over 10,000.
    Ambode made the disclosure in his speech at the presentation ceremony which took place at the LTV Blue Roof, Agidingbi, Ikeja.
    He also disclosed that women have benefited substantially from the LSETF programmes.
    According to the governor “Our commitment to women is evident in the number of women who are beneficiaries of the programmes of this Fund. Before today we had a total of 3,652 female loan beneficiaries to the 4,280 male loan beneficiaries. 
    “Under our Lagos Employability Support Programme, women represent 49% of the total number of young people that LSETF has trained while in our Lagos Innovates programme which supports a tech ecosystem dominated by men, 21% of the beneficiaries are women
    beneficiaries.
    “In line with our promise of inclusive governance, almost half of these loans were given to women; while the beneficiaries range from the youth to our senior citizens in active business. In spite of this, the Fund has assured me of their work to increase the level of female participation across all programmes, especially within Lagos Innovates.
     
    “In addition, the Fund has ensured that all 20 Local Government Areas (LGAs) and 37 Local Community Development Areas (LCDAs) have felt its impact”.
    The LSETF programmes, he said, has created over 25,000 new direct jobs created directly by these businesses in the state and that the multiplier effect of those businesses on the Lagos economy and the indirect jobs created is enormous.
    “Apart from the jobs being created, I am especially pleased to see testimonials from some of our beneficiaries. I watched the video of Ibrahim Shuaib; a final year student of Dentistry at the Lagos State University Medical School. With a loan of N250,000, Ibrahim has not only grown his dry-cleaning business, employing over 20 people, but also started another business which his sister runs.
    “I also read about Femi Oyedipe, whose chocolate production business, Loshes Chocolate, can now produce ten times more than before, employing more Lagosians as staff. Apart from employing more people, Loshes Chocolate makes it products from cocoa beans sourced from Ondo State, creating value for farmers outside Lagos. This is a very good example of the inter-state economic partnership Nigeria needs to grow its economy.
    “Another LSETF programme that we are very proud of is the Lagos Employability Support Programme, under which we have trained 3,363 unemployed youth and over 1,100 of them are now either employed or running their own businesses”.
    “You will all agree with me that the future is tech and our Employment Trust Fund is poised to make Lagos the leading destination for Africa’s most exciting talent and start-ups. Under the Lagos Innovates Programme, 75 start-ups have been awarded work space vouchers which provides their businesses with access to excellent infrastructure and a community where they can incubate and pursue their dream of becoming Africa’s emerging unicorns; without bearing the associated cost. We have also awarded a loan to one of the leading hubs, to expand and incubate more technology start-ups in the Lagos environs.
    Ambode congratulated  beneficiaries charging them to grow their businesses, “create jobs for the unemployed, contribute to the growth of the Lagos GDP, and most importantly, repay your loans.” 

    Read Also: 6,462 benefit from N5.22bn LSETF loans

    “Our expectation of today’s beneficiaries is to emulate the over 1,500 beneficiaries who have successfully repaid their loans. It is because of beneficiaries like them that we continue to revolve the capital being used for LSETF’s various programmes. It is our belief that many years from now, the foundation we have built today will produce notable businesses that Lagos State can be proud of.”
    The governor said the government has a vision through the State Employment Trust Fund to grow the Lagos economy by supporting entrepreneurship, which in turn will create jobs for the unemployed residents.
    Ambode thanked the United Nations Development Fund (UNDP) for supporting the initiative expressing confidence that their target to train 10,000 young people is achievable.
    He also commended the Chairman, Executive Secretary, Board and Staff of the Lagos State Employment Trust Fund for translating “our dream to reality and bringing it to Lagosians.
    “I also thank the Honourable Commissioner, the Permanent Secretary and all staff of the Ministry of Wealth Creation and Employment. The Employment Trust Fund thrives today because of their total commitment to the prospect of empowering Lagos residents with employment and entrepreneurship opportunities.
    “Finally, I thank the Lagos State House of Assembly, especially the House Committee on Wealth Creation and Employment, who have been relentless in their support for this initiative.  Their oversight and ideas have greatly enhanced the outcomes we are seeing today.”
    Adding that “I look forward to hearing more success stories from beneficiaries of the programmes of our Employment Trust Fund. The Lagos State Government will continue to support this programme and we welcome more institutional partners and collaborators. We have only just laid the foundation; there is still a lot more to be done but I am confident that this story will only get better.”
    Assuring that the APC governorship candidate in the forthcoming election, Mr. Babajide Sanwo-Olu has promised to continue with the projects when he takes over as governor.

  • Offering youth passport to employment

    The Lagos State Employment Trust Fund (LSETF), a body established by the state to tame the unemployment scourge among the youth. Through vocational training, the fund is helping them gain requisite knowledge and skills to get job placements. DANIEL ESSIET reports.

    Under employment rates in Nigeria,  analysts say, have been increasing rapidly over the past few years. According to them, the youth constitute at least 40 per  cent of the population of about 180 million and 80 per cent of them are unemployed.

    With the massive wave of graduates entering the labour market, it is hard for job growth to keep up with the skyrocketing demand for jobs. Furthermore, many graduates lack the skills to communicate effectively with employers and find jobs in their field of study.

    It is also with the vision of building skills for better jobs and other goals that Lagos State set up the Lagos State Employment Trust Fund (LSETF).

    Through its employability support project,   LSETF is evolving practical, high-impact solutions aimed at creating transformative jobs through training.

    Today, LSETF is one of the many success stories of the state in training youths to acquire skills.

    Recently, the project set out to implement employability skills training in key sectors such as manufacturing, hospitality, entertainment, construction, health and garment making. Some of the training programmes were implemented by vocational training institutions.

    The programmes were about giving young people the very best chance to change their lives, with vital skills and meaningful opportunities that have the potential to lead to full-time employment or further education. Individual approach ensures that every young person is supported to grow in confidence, develop employability skills and gain work experience that will help towards their Curriculum Vitae.

    Under the project, each learner gains opportunities to learn new skills and take part in work experience with a local employer. Learners leave the programme with improved confidence and the right skills needed to move into full-time employment.

    Graduates of the programme spoke highly of how they are turning their lives around with the help of Employability Support Project.

    Omolara Willoughby, a Mass Communications student at the National Open University of Nigeria  (NOUN) is a beneficiary of one of the training programmes. Before now, she had tried several job interviews and was never considered due to lack of experience.

    She was drawn to LSETF’s website where she applied. Following her success in the screening exercise, Miss Willoughby was on work placement as a house keeper/Front Office Assistant, at First Standard Insurance Brokers, Onikan, Lagos. While on internship, she gained skills necessary for the position and is flourishing in her new job. She completed training in employability and personal development and has secured an apprenticeship as housekeeping assistant.

    According to her, the training gave her the skills and opportunity to prove herself to her employer. She learned about customers, how to present herself and improve her disposition.  Her confidence has really improved. Consequently, she    has   worked her way up to be a key worker on the Front Desk section at First Standard Insurance Brokers.

    Miss Willoughby   thanked Lagos State for granting her the training.  She looked forward to a long term career in the industry.

    Another success story from the programme was Mrs Chidinma Uche, now working at Cherry Bay Hotel, Surulere, Lagos as a house keeper.  She was happy with her work placement.   Despite her good nature and beauty, she   had difficulty finding a job. As a housewife, she was concerned about increasing family responsibilities which required money to solve. The only solution she could think of was to improve her profile to enable her get a job.  She attended pre-employment training at a vocational centre, supported by the LSETF and completed her internship. While there, she benefitted from counseling sessions and soft skills training as well as training on housekeeping.

    Today, her story has changed. Mrs Uche is proud to be associated with the LSETF for giving her and others the opportunity to kick-start a career in hospitality. She described it as a wonderful initiative.   She now has a long term career ahead of her in the industry.  LSETF through its Employability Support Project provides six to eight weeks of vocational training to Lagos residents. Work placement/internship enables employers to assess them in a live work placement, which in some ways, is the interview process. The project is supported by a network of strong partnerships with employers, schools and other organisations, who help learners take their first steps towards employment. They always look after the needs of young people and provide them with real opportunities to progress.

    LSETF Executive Secretary,  Akintunde Oyebode, explained that the project aimed at addressing the unemployment challenges in the state, while also equipping active youths with relevant skills to enable them contribute to the socio-economic development of their communities. Oyebode was quoted as saying: “The Employability Support Project addresses key sectors of the economy that require highly skilled workforce to spur innovation, creativity and business growth. LSETF aims to train 10,000 young people to gain skills in six sectors namely – manufacturing, hospitality, entertainment, construction, health and garment making that will help place them in line for immediate employment. Some of the youths trained under the Project 8 vocational training centers across the state have graduated. Organisations such as Dangote Group, Samsung, Crown Nature Plc, Whispering Palms, Farenheit Hospitality, X3M group among several others, led the way in the employment of the trained young workmen and women.

    LSETF Chairman, Ifueko Omoigui-Okauru, said the objective of the employability project is to improve the technical and vocational training outcomes in the state with an aim to increase employment opportunities for young people in Lagos.

    Since the fund opened the application process in December last year, it has received over 13,000 applications with garment making (26 per cent), hospitality (20 per cent) and construction (18 per cent), being the most popular sectors.

    Out of the 13,000 applicants, it screened 3,985, approved 3,305 successful applicants and admitted 1,181 students across the six sectors in 12 vocational training centres.

  • Day Ambode’s score card resonated

    Day Ambode’s score card resonated

    De Blue Roof, Lagos Television, Agidingbi, Ikeja, venue of the first 2018 Town Hall Meeting, the 10th in the series was filled to capacity. As early as 8:30 a.m., stakeholders from different groups had taken their seat, waiting patiently for the arrival of Governor Akinwunmi Ambode.

    Coincidentally, this edition of the Town Hall meeting was historic as it also marked the 140th anniversary of Town Hall Meetings practice in the state, first held on January 28, 1877.

    The meeting, in the last two-and-half years, has metamorphosed into a viable platform to listen and interact.

    For Ambode, it presents him with an opportunity to feel the pulse and hear first-hand from the people who elected him to serve them, while for Lagosians, it is yet another medium to rub minds with the Governor, tell him their needs and in most cases, get instant response and approvals.

    The latest edition certainly lived up to expectation. Ambode’s entrance into the venue by 9:58 a.m. was greeted by loud cheers from the crowd who were excited to interact with the man behind the many infrastructural projects and people-oriented programmes that are fast changing the landscape of the state.

    Ambode, in line with the tradition of the meeting, took time to reel off some of his administration’s strides in the last quarter of last year as well as projections for the first quarter of the New Year as well as other plans to sustain the tempo of infrastructural development that has become synonymous with his government.

    Giving a report of activities of his administration in the last quarter, Governor Ambode said between the period under review, the government inaugurated the first state-owned DNA Forensic Centre in Nigeria and West Africa, and in the coming weeks would sign a contract to upgrade the facility to offer toxicology services, which will make it the first in Sub-Saharan Africa.

    The governor said N635.5 million has been disbursed as bursary to 8,419 students in tertiary institutions across the state in fulfilment of its promise to support their educational pursuit while in the health sector, equipment worth over N2.5 billion were acquired.

    According to him, the health equipment was part of efforts to strengthen the capacity of the state’s health facilities to render improved health services and also facilitate smooth take-off of the Lagos State Health Scheme designed to enable residents enjoy unfettered access to quality  health care.

    “Since the last Town Hall meeting, we have continued the renovation and upgrade of our Primary Health care Centres (PHCs) and our people at the grassroots have started to witness a revitalised health care delivery. In order to meet the needs of the youth in the area of technical and vocational development, we have approved the establishment of three other technical colleges; bringing the number of technical colleges to eight,” he said.

    To kick-start our bus transport reform, Governor Ambode recalled that the LAMATA Place, the Ojota BRT Depot, the Intelligent Transport System Centre and E-ticketing Payment System was inaugurated, while work on the Onikan Stadium to transform it to a modern sports arena has begun as well as upgrade of the Agege Stadium to prepare it to host CAF Champions League matches for MFM Football Club.

    The inauguration of the JJT (Johnson, Jakande, Tinubu) Park in Alausa was also one of the highlights of December, last year. The park provided a perfect spot for young and old to relish the festive period as hundreds of Lagosians thronged the park daily, a situation the governor said confirmed the State Government’s belief that Lagos needs more of such parks.

    The governor listed some of the key projects delivered last year to include the new Tafawa Balewa Square Bus Terminal, new Ojota Pedestrian Bridge, Aboru –Abesan Link Bridge and adjoining inner roads, Ojodu Berger Slip Road and Pedestrian Bridge, Jubilee Bridges in Ajah and Abule Egba, Freedom and Admiralty Road in Lekki, new Lands Registry and newly upgraded Jubilee Chalet in Epe, among others.

    In addition, Ambode said as at December, last year, the Lagos State Employment Trust Fund (LSETF) had disbursed a total of N4.5 billion to 5,500 beneficiaries who also received training on financial literacy and business management, while keys were presented to beneficiaries of the first set of allottees of Lagos State Rent-To-Own Housing Scheme, as well as creation of Neighbourhood Safety Corps and beautification of the state with the erection of monuments, parks and gardens.

    The coming on board of these projects, the governor said, contributed immensely in creating jobs for the teeming youths and ultimately stimulating and reflating the economy, just as he revealed that despite the harsh economic climate in the country,   the state generated a total of N503.7 billion revenue last year while the overall budget performance stood at 82 per cent.

    He said the figures posted last year was a positive indication entering into the New Year. For him, though last year was a good one for the state, there are great prospects in stock for this year.

    He said: “As we celebrate the New Year, we thank you all for your support and co-operation last year. It was your backing that enabled us to achieve the modest successes we recorded last year and commence the transformation of the landscape of our state. Last year, we delivered on our promises to Lagosians despite the harsh economic climate.

    “Despite the harsh economy, our state’s budget performed at 82 per cent. Total revenue generated was N503.7 billion, representing a performance of 78 per cent; total recurrent expenditure was N281.33 billion, representing a performance of 92 per cent, while total capital expenditure was N387.60 billion or 76 per cent performance,” he said.

    Still in December, the governor presented a record high budget proposal of N1.046 trillion to the Lagos State House of Assembly, pledging that it would be judiciously utilised to complete all ongoing projects and consolidate on infrastructural development in areas of education, transportation and traffic management.

    While reeling off the outlook for the year, Ambode assured that he would sustain the momentum of development and vigorously pursue all ongoing projects, with special focus on health and education.

    Already, in the 2018 Appropriation Bill of N1.046 trillion currently awaiting approval of the House of Assembly, the State Government has earmarked N92.676 billion for the health sector, representing 8.86 per cent and N126.302 billion for education representing 12.07 per cent of the budget.

    But the highlight of the event came during the question-and-answer session. One by one, residents filled out to speak. While some utilised the opportunity to present their personal problems to the Governor, others spoke on behalf of their colleagues and the challenges facing their immediate communities.

    However, with the electioneering activities ahead of the 2019 general elections only a few months away, they were all united in their submissions that Lagos was heading the right direction and that Governor Ambode thoroughly deserved another term.

    Treasurer, Lagos State chapter of the Christian Association of Nigeria (CAN), Rev. Stephen Adegbite said in the past two-and-half years, Ambode has not only delivered majority of his promises, his strides have engendered religious harmony.

    “He promised religious harmony and today in Lagos State there is religious harmony. Religious leaders from CAN and other Christian organisations meet at several strategic meetings and in all the states, the state that is leading in religious harmony is Lagos State because we have now NIREC at local government (LGs) and local council development areas (LCDAs) and the light-up Lagos project has been integrated.

    In his words: “The governor does not need any campaign for 2019, his work has spoken for him and he is coming back without any sentiment. We will continue to pray for him. Ambode is fantastic. Keep it up and God bless you.”

    A resident, Tunde Odunsi, reminded the governor of a one-on-one discussion he had with him  in 2015 that was yet to be acted upon. Responding, the governor assured Odunsi that the matter would be immediately addressed.

    Ojikutu Ahmed, a representative of the Ikeja Computer Village Community, commended Ambode for steps taken to install free Wi-fi in the new parks and gardens across the state, saying it has put the state on the global map as an ICT-compliant state.

    Ahmed, however, asked the governor to intervene through the State’s Public Works Corporation to fix the roads in and around Computer Village, a request governor also assured would be immediately looked into.

    Answering other questions relating to road rehabilitation, the governor also ordered the Public Works Corporation to immediately move in to fix bad roads in Abesan Estate, Oriade and Abule Egba, among others.

    Surajudeen Abejamu brought the situation at the Primary Health care Centre situated at the resettlement area in Ajah-Ilaje area in Eti-Osa Local Government Area to the Governor’s attention, prompting the governor to direct the office of the Special Adviser on Primary Health care to immediately ensure that the centre becomes functional in two weeks.

    The concern of Mrs. Risikat Philips was on market development. While welcoming re-development of the Ikorodu Market, she suggested a possibility of finding an alternative location for market men and women before any demolition.

    Buying into her idea, Ambode assured that the government would look into cushioning the effects of displacing traders in the course of developing their markets, revealing that a Market Development Board would be inaugurated very soon and when functional, would address issues of market relocation for developmental projects.

    Chairperson, Lagos Women in Sports, Tayo Popoola, said the governor’s efforts in the sports sector have not gone unnoticed and would be one major yardstick for his re-election.

    She, however, implored the governor to encourage more women in sports administration, saying that the exploits of Ikorodu-born Asisat Oshoala, the reigning African Women Footballer of the Year, who was also present at the event, was a testament to the fact that several women with an eye for nurturing female talents in sports abound.

    Ambode said sports remains one tool his administration has employed to keep youths engaged and out of social vices.

    Mr. Temitope Ibikunle sought to know the efforts being made to forestall any invasion by herdsmen. Ambode allayed fears, saying that the government had taken precautionary measures to ensure safety of lives and property.

    Dignitaries at the event were Prince Tajudeen Olusi, Senator Ganiyu Solomon, former Deputy Governor Abiodun Ogunleye; former Speaker Adeyemi Ikuforiji, Lagos APC Vice-Chairman Cardinal James Odunbaku and Chief Lanre Rasak, among others.

     

  • ‘How I benefited from Lagos Employment Trust Fund’

    ‘How I benefited from Lagos Employment Trust Fund’

    Nuts about Cakes; a bakery located in Lekki Phase One was established in 2010 by Nike Majekodunmi, one of the first beneficiaries of the Lagos State Employment Trust Fund (LSETF).  In this interview with WALE AJETUNMOBI, the CEO of the bakery, Majekodunmi speaks about the benefits derivable from the trust fund. Excerpt

    How did you discover LSETF?

    I discovered the LSETF through the newspapers. I knew about it when it was inaugurated by Governor Ambode.

    Was processing the loan application easy, fair or tough?

    The Loan application process was much smoother than you would expect.  In fact, a lot less was required than a bank would ask you to provide.

    When did you receive your funds?

    Two weeks after the interview, I received a confirmation via SMS that we had been approved for the loan.

    In what ways did your business change after receiving the loan?

    My business changed significantly after accessing the loan.  We were able to open an additional branch of our bakery.  This meant that we could render services to a whole new community with our products.

    In what ways will you ensure that growth of your business is sustained?

    Internal controls and proper audit are constantly carried out to ensure that we are able to get a return on the investment. And subsequently, use that return to further expand and open additional branches.

    How would you rate the performance of the LSETF set up by the Lagos State government?

    It is revolutionary.  It breaks a barrier that a lot of Small and Medium-Scale businesses encounter when starting, by providing the funds to enable them to be able to actualise a dream and create jobs for our unemployed youths in the process.

    Ordinarily, someone seeking a loan would have to go to a bank who will ask for land collateral that SMEs might not have. Or, they will be forced to take high percentage loans that will cripple the business.  The LSETF provides quick and affordable loans.

    As the business grows, how many people do you plan to employ?

    The funds we received helped to open a new branch located at Agungi, Lekki Expressway.  We have so far recruited a total of eight people as store assistants and bread and pastry bakers.

    Have you told anyone about LSETF?

    I have told several people about the LSETF who had not heard of it, while others thought it was not real.  With my example, they have followed up to make their applications.

    Do you have any recommendation(s) for the LSETF?

    It should make the fund available for more prospective entrepreneurs.