The Executive Secretary of the Lagos State Employment Trust Fund, Akin Oyebode, has said that the N25 billion ETF is not targeted at enterprenuers alone as it also plans to assist the unemployed.
According to him, though the Fund is aimed at creating over 100,000 businesses, expected to have multiplier effects of creating additional 300,000 direct and 600,000 indirect jobs in the state, his agency was also set up to assist in training the unemployed in Lagos and help them get jobs. Disclosing this at a stakeholder’s forum for entrepreneurs held in Agege Local Government, by the Lagos State Employment Trust Fund, Lagos State, he charged all the unemployed to register and submit their CV on its website.
At the forum, he took steps to explain the activities of his agency, the kind of loans they provide and those who can benefit. He stated that while commercial banks give out loans at 25 percent interest rate, Bank of Industry gives it out at nine percent, while his agency gives it out at five percent, the lowest in Nigeria.