March 14, 2019/LSETF
The Lagos State Employment Trust Fund (LSETF) announces the exit of its Executive Secretary, Mr. Akintunde Oyebode, who leaves the Fund on March 31 2019, to take up a senior role with the Ekiti State Government.
Commenting, the Chairman of the LSETF, Mrs. Ifueko M. Omoigui Okauru said; “We thank Mr. Akintunde Oyebode for his work as pioneer Executive Secretary of the Fund. His leadership and commitment to job creation contributed to the Fund’s success and impact. Akintunde has demonstrated that young people have the capacity to succeed in leadership roles. We are glad that the Fund has positioned him for higher responsibilities. We will miss his leadership and wish him the best in his future endeavours. Our strong leadership team and succession plan will ensure the Fund continues to operate seamlessly.”
In his remarks, Mr. Akintunde Oyebode said, “I am grateful to Governor Akinwunmi Ambode for finding me worthy to serve the people of Lagos State, especially in supporting job creation, and as a result, lifting our most vulnerable people out of poverty. I am also very grateful to the Lagos State House of Assembly, especially the House Committee on Wealth Creation and Employment, Ministry of Wealth Creation and Employment and Ministry of Finance for their support. Finally, I would like to thank the Board of Trustees whose support and guidance shaped our work; and my brilliant colleagues, whose invaluable contribution delivered the impressive results we achieved so far.”
LSETF’s MSME Loan Programme has disbursed over N6.5 billion to almost 10,000 beneficiaries; while over 3,500 unemployed Lagos residents have been provided with vocational training, with over 1,500 of the trainees placed in jobs; The Fund’s Lagos Innovates programme has supported over 80 start-ups. In total, LSETF’s interventions have helped create almost 90,000 jobs in Lagos State since it started operations on March 1, 2016.
About the Lagos State Employment Trust Fund (LSETF)
LSETF was set up by the Lagos State Government in March 2016 to tackle unemployment in and promote job creation in the State. To achieve its mandate, the Fund has interventions in three core areas: entrepreneurship, skills development and innovation. These activities are targeted to every indigene irrespective of gender, religion or tribe with a commitment to ensure at least 50% of the beneficiaries are women. Our programmes include:
i) Loan Programme: The loan programmes provides access to finance for Small and Medium Scale Enterprises (SME), Micro- Enterprises (ME) and ME Startups (MES) beneficiaries with a maximum value of N5mn, N500,000 and N250,000 respectively.
ii) Employability Programme: The Lagos State Employability Support Project in partnership with United Nations Development Programme (UNDP) aims to increase the pool of skilled manpower to alleviate the acute shortages of employable labour. The project will improve the quality of labour in these sectors: Manufacturing, Health Care, Construction, Entertainment, and Hospitality. It is expected that through the project about 10,000 skilled manpower will be produced in 18 months to cater for demand in key sectors. It also includes promotional and access to job opportunities for individuals. The project targets unemployed and under-employed youths with or without skills and aged 18 to 35 years.
iii) iii) Lagos Innovates Programme: Lagos Innovates is a dedicated platform that refers to a set of programs that provide support for the exciting and fast-growing startup ecosystem in Lagos State. Lagos Innovates is designed to assist founders and startups by facilitating access to high quality workspaces/infrastructure, learning, early stage investment capital and investor and peer networks. Programs are open to all innovation-driven enterprises that are less than three years old and based in Lagos State.
For further information, please contact:
Strategy, Funding and Stakeholder Management
Lagos State Employment Trust Fund