The Lagos State Employment Trust Fund has disbursed more than ₦15 billion in loans to businesses since its establishment in 2016, recording a repayment rate of 94.5 per cent.
The Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, disclosed this at a press briefing ahead of the fourth Lagos State Employment Summit.
He said the Fund had also disbursed more than 20,000 loans, trained over 30,000 young people and supported more than 1,200 technology start-ups in its ten years of operation.
The Permanent Secretary in the Ministry of Wealth Creation and Employment, Lolade Aina, emphasised the need for stronger collaboration among government, employers and educational institutions to equip residents with skills relevant to the changing labour market.
