Governor Akinwunmi Ambode of Lagos
Governor Akinwunmi Ambode of Lagos State on Thursday described the establishment of the Employment Trust Fund (ETF) as a turning point in the state.
Ambode spoke at the Lagos House, Alausa while inaugurating the board of the ETF and the state Civil Service Commission.
He said it was a turning point in the responsiveness of government to the yearnings of the youths and other unemployed people in the state.
The governor emphasised that the administration of the fund would be guided by international best practices, but warned that it would be available to only people who were from the state and residents.
Ambode said that beneficiaries would be selected based on the strength of their applications.
“I urge all Lagosians, especially our young entrepreneurs and artisans, to embrace this opportunity.
“The process of accessing the fund must be transparent, and beneficiaries will be chosen only on the strength and quality of their applications.
“The management of this fund will be guided by global best practices and strict adherence to the rules and procedures spelt out in the law,” Ambode said.
The governor said that the state government would inject N25 billion into the fund over a four year period.
“Fellow Lagosians, this initiative has been designed to succeed. Our government will commit N6.25billion every year within the four years of this administration to a total of N25billion.
“Realising that the first year of this administration is just three months away, precisely on May 29, 2016, the Commissioner for Finance is hereby directed to transfer the sum of N6.25b to the ETF immediately today,” he said.
Ambode tasked members of the board to start working immediately so that residents would feel the impact of the fund, which according to him, would be measured by the number of successful businesses financed.
“Every senatorial zone of the state must feel the positive impact of the fund. The board must ensure that the distribution of the fund is evenly spread across the state,” he said.
The governor also urged individuals, corporate organisations and multi-lateral agencies to join his administration in turning around the fortunes of the youths.
He said by so doing, they would energise the state and help to boost the economy of the nation as a whole.
The 10-member board is chaired by a former Chairman of the Federal Inland Revenue Service (FIRS) Mrs Ifueko Omoigui-Okauru.
Omoigui-Okauru, in her remarks, thanked Ambode for the opportunity to serve the people.
She assured him that she would work hard with members of the board, not only to fulfil the governor’s campaign promises, but would bring hope to the teeming youths of the state.
Omoigui-Okauru said that the board would ensure full compliance with the provisions of the law setting up the ETF.
In another development, Gov. Ambode also advised the Board of the state Civil Service Commission chaired by a former
Tutor-General and Permanent Secretary, MrsTaiwo Oyemade to discharge its duties with diligence.
He urged members of the board to display integrity to ensure professionalism in the state public service.
N25bn ETF a turning point in engaging youths, unemployed – Ambode
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