The Lagos State Government, through the Lagos State Employment Trust Fund (LSETF), has distributed N10 billion in grants to over 500,000 small and medium enterprises (SMEs) across the state, aiming to foster job creation and economic growth.
During a media briefing at Alausa, Ikeja, Acting Executive Secretary of LSETF, Mrs. Feyisara Alayande, stated the fund’s accomplishments and upcoming initiatives. She announced the forthcoming Lagos Employment Summit, themed “Job Creation: Uniting for Impact: Create, Collaborate, Change,” scheduled for Wednesday, July 3, 2024, on Victoria Island, Lagos.
In a move to combat unemployment, the state government is set to launch a labor management information system at the summit. This system, which has been under development for a year, will provide valuable employment data for job seekers and employers, streamlining the job matching process.
Since its inception seven years ago, the LSETF has disbursed N10 billion to SMEs and trained 220,000 individuals in various entrepreneurial skills, supporting 500,000 businesses across diverse sectors in Lagos. However, Alayande noted that approximately N4.5 billion of the fund remained unclaimed by applicants between 2017 and 2023.
“We are launching a labor management information system to ensure anyone needing employment data has a centralized platform. Both job seekers and employers can use this system for improved employment opportunities,” Alayande said.
