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ETF: Governor Ambode presents cheques totaling N924.7 million to 1,438 Beneficiaries

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Governor Akinwunmi Ambode 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.

About 4, 000 businesses have benefited a total of N3.5 billion 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.

Ambode had in January presented cheques totaling about N1 billion 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, Lagos, Southwest Nigeria, 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.

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 programme, 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 were repaying their loans, thereby ensuring the success of the programme.

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 N6.25 billion tranches annually to the N25 billion Employment Trust Fund.”

Besides, 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.

Chairman, Board of ETF, Mrs. Ifueko Omoigui-Okauru said the presentation ceremony was another milestone by 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 would contribute Naira equivalent of $3 million, while UNDP would contribute $1 million and that the funding would 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.

Source: ( PM News )

National News

WTO: Trump Wrong For Rejecting Okonjo-Iweala – Fani-Kayode

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#EndSWAT: Things Will Fall Apart – Fani-Kayode Warns Buhari Govt
WTO: Trump Wrong For Rejecting Okonjo-Iweala – Fani-Kayode

Femi Fani-Kayode

Former Minister of Aviation, Femi Fani-Kayode has condemned the move by the United States President, Donald Trump to block the appointment of Ngozi Okonjo-Iweala as the Director-General of World Trade Organisation (WTO).

Recall that Okonjo-Iweala on Wednesday won the popular vote by a wide margin, with the expectation of an announcement after a World Trade Organization meeting in Geneva.

She was reported to have won the support of 104 of all 164 member countries of the WTO, many of which were from Africa and Europe.

Also Read: Video Of Desmond Elliot Calling For Social Media Regulation Hits The Internet

However, the US reportedly expressed its disappointment over the appointment of Ngozi Okonjo-Iweala despite her widely gained support.

Reacting in a post on his Twitter page, Fani-Kayode warned that Trump’s opposition to Okonjo-Iweala would upset millions of his supporters in Nigeria and Africa.

He wrote:

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Nigeria’s Economy Too Fragile For Fresh Lockdown —Buhari

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Buhari, Former Leaders, Security Chiefs Meet In Aso Villa
Nigeria’s Economy Too Fragile For Fresh Lockdown —Buhari

Buhari

President Muhammadu Buhari has warned that Nigeria’s economy is too fragile for fresh coronavirus (COVID-19) lockdown.

The president stated this in a post on his Twitter handle @MBuhari on Thursday.

Buhari stated that compliance with COVID-19 protocols by all Nigerians is crucial to avert a second wave of the pandemic in the country.

Also Read: Femi Adesina: #EndSARS Protests Fuelled Looting Of Warehouses

This is coming following the recent increase in Coronavirus cases in many countries around the world.

He wrote:

“Looking at the trends in other countries, we must do all we can to avert a second wave of COVID-19 in Nigeria.

“We must make sure that our cases, which have gone down, do not rise again. Our economy is too fragile to bear another round of lockdown.”

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Femi Adesina: #EndSARS Protests Fuelled Looting Of Warehouses

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#EndSARS: I have been receiving curses on my phone – Femi Adesina
Femi Adesina: #EndSARS Protests Fuelled Looting Of Warehouses

Femi Adesina

Femi Adesina, special adviser to President Muhammadu Buhari on media and publicity has alleged that some Nigerians involved in recent cases of looting experienced in some cities across the country didn’t do it because they were angry or hungry.

He alleged that they were simply taking advantage of the collapse of law and order caused by the #EndSARS protests.

He stated this on Thursday, 29th October when he appeared on Channels Television’s Sunrise Daily programme.

He declared that poverty has nothing to do with the invasion of COVID-19 palliatives warehouses.

Also Read: BREAKING: Public, Private Schools Can Reopen Monday – Lagos Govt

He said: “Criminality is criminality. Would it justify armed robbery because the man was poor? Would you justify armed robbery because the man didn’t have money?

“Just as you cannot justify armed robbery because a man was poor and took a gun to rob another person, you can’t also justify the lootings going on because it is pure criminality. My view is that it is not everybody that is hungry that engaged in that looting. This is the truth, it is greed and pure criminality.

“Criminality will always be criminality and anarchy promotes criminality. What has happened in the past two or three weeks led to what is happening now. If there was cohesion and tranquility in society, this would not have happened. Therefore, it is corollary to the near anarchic situation that came on the country because of the protest.

“If you did not have people burning police stations, killing policemen, burning private and public property, you won’t have this kind of looting. That means those same people will be in society and will find ways to eke out a living but because the situation was created for near-anarchy that is why you have this.

“So, I don’t agree that it is all about poverty. Yes in any country, you will have people that are poor, hungry…that is one of the reasons you have government to ensure that the number of the poor reduces progressively.

“So this crowd of people you see going to loot are not necessarily hungry or angry; they are taking advantage of the collapse of law and order that came as a result of the protest.”

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