When LSETF release fresh numbers say over 20,000 businesses don receive more than N15 billion support and over 320,000 jobs don emerge from the programme, many Lagos residents nearly drop their phones to confirm say na real notification. For a city where almost everybody either dey find work, create work, or know person wey dey find work, the announcement quickly spark excitement, curiosity and the usual Nigerian question: “Abeg, who get the form?”
The revelation come as the Lagos State Employment Trust Fund celebrate ten years of operation. While supporters hail the figures as evidence say targeted support fit boost economic activity, others dey cautiously ask how these impressive numbers translate to everyday reality for millions of Lagos residents still navigating high costs of living and intense competition for opportunities.
Employment Scheme By LSETF
According to LSETF officials, the agency don disburse more than N15 billion to over 20,000 micro, small and medium enterprises since 2016, contributing to the creation of more than 320,000 direct and indirect jobs across Lagos. The agency also report say over 173,000 existing jobs were preserved through various interventions while more than 82,000 businesses benefited from capacity-building programmes.
Officials further explain say the fund no be only about loans. Programmes under the agency include entrepreneurship support, vocational training, employability schemes and technology-focused initiatives. More than 30,000 young people reportedly receive training and employment connections, while the Lagos Innovates programme support over 1,200 startups and help develop thousands of tech talents.
Impact Of LSETF On Jobs In Lagos State
The broader story behind LSETF be say the organisation was established under Lagos law in 2016 specifically to tackle unemployment through job and wealth creation. The original vision was to bridge the gap between talent and opportunity by providing access to finance, skills and business support for residents.
One figure wey attract attention pass na the reported loan repayment rate of over 94 per cent. For many observers, that number suggest say many beneficiaries no just collect funds and disappear like wedding rice after reception. Instead, it indicates that a large proportion of supported businesses remain active enough to meet repayment obligations. At the same time, economic analysts note say Lagos remains a mega-city with millions of working-age residents, meaning demand for business financing and employment opportunities still far exceed available support.
As celebrations over the latest Jobs figures continue, one reality remain clear: no matter how impressive statistics look on paper, Lagos residents go always judge success by what dem see for ground. If more businesses survive, more workers earn salaries and more entrepreneurs move from “I get idea” to “I get company,” then the numbers go speak for themselves. OGM News Pidgin go continue to monitor how the next decade of LSETF interventions translate from conference-room statistics to everyday Lagos reality.
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