By Olasunkanmi Akoni

Lagos State Government has said that it will collaborate with stakeholders, through Public Private Participation initiative for the implementation of N24 billion Employment Trust Fund, ETF, aimed at providing soft loans for indigent entrepreneurs in the state.

Commissioner for Wealth Creation and Employment, Mr. Babatunde Durosimi-Etti, stated this at a Two-Day Summit in Lagos, organized by the ministry, with a view to mapping out strategies for providing employment opportunities for unemployed residents to be independent as well as boost businesses of entrepreneurs.

Lagos government and key stakeholders in the nation’s economy acknowledged the need for PPP to be evolved for the realization of creating employment opportunities for the teeming populace in the state.

According to Durosimi-Etti, the summit, themed: “Strengthening Partnership for Employment Opportunities and Wealth Creation in a Competitive Environment,” afforded stakeholders and government a robust avenue on how to create employment opportunities in the state.

He stressed that the Governor Akinwunmi Ambode-led administration is very interested in creating employment avenues for unemployed youths in the state, hence, the earmarking of N24 billion Employment Trust Fund, ETF, aimed at providing soft loans for people who wish to go into their own businesses at a lower interest rate than what any bank would offer.

The commissioner added that the fund would certainly drive the interest rate of banks down as many people would capitalize on the low interest rate of about three percent to borrow money to run their businesses.

Director, Human Resource, Nigeria Breweries Plc, Mr. Victor Famuyibo, who spoke on ‘Leveraging Technology to Re-define the Wholesale-Retail’, recommended that there was the need for the government to include Information Technology related subjects in university curriculum and also address employability of the youth.