Lagos State Government through the state Employment Trust Fund has supported 3,673 businesses with the sum of =N=1.56billion as grants and provided mentorship and business advisory to young people to start and grow their businesses.

The Governor disclosed this today at the Lagos Chamber of Commerce and Industry (LCCI)/Lagos Economic Summit Group (LESG) Private-Public Partnership Pre-Ehingbeti Stakeholders Engagement on “Building a Sustainable Future for a Greater Lagos, held at the Commerce House, Victoria Island Lagos.

The Governor who was represented by the Deputy Governor; Dr. Kadri Obafemi Hamzat added that the state government also supported 1,835 small businesses with =N=985million and this has led to the creation of 10,500 direct jobs in the state. In addition, Sanwo-Olu said that his administration has put =N=1billion into Agricultural Value Chain businesses to provide food and create jobs in the state.

He stated that the Ehingbeti Summit, achieved its purpose through the meticulous and faithful implementation of innovative ideas and suggestions like the establishment numerous initiatives which include the Lagos State Employment Trust Fund, Lagos State Security Trust Funds among others that have enhanced the living standard of Lagosians and the state enviable status as the economic nerve centre of the country.

The Governor said “Let me confidently state here as a matter of fact that most of the key infrastructure that dots the landscape of Lagos as well as pioneering initiatives that have profoundly elevated the status of Lagos as a functional mega city, speak to the quality of resolutions of past Summits.”

Speaking further, Sanwo-Olu stated that Lagos Chamber of Commerce and Industry (LCCI)/Lagos Economic Summit Group (LESG) Private-Public Partnership Pre-Ehingbeti Stakeholders Engagement was organized to sensitize key stakeholders on this year’s summit and importantly seek their input on the proposed 30 years Lagos State Development Plan which will be unveiled at the Summit for deliberation and final adoption for implementation.

Earlier in his remark, the Commissioner for Economic Planning and Budget and Co-Chairman Ehingbeti Lagos Economic Summit, Mr. Samuel Egube assured that the Government will continue to collaborate with Private Sectors, not only on the thirty years development plan but on the development of the state in general.

He added that the Ehingbeti Economic Summit has played a vibrant role in the development of the state, that “resolutions from past Ehingbeti Summits have brought developments such as the Ikoyi Link Bridge, BRT Project, the Red and Blue Rail Project which will commence operation soon, Lagos Free Trade Zone and the Imota Rice Mill amongst many others.

Similarly, the Commissioner for Finance, Dr. Rabiu Olowo noted that the Ehingbeti Economic Summit, is about the state’s deliberate agenda for a greater Lagos and has the absolute inclusion of the different stakeholders and disclosed that the state government has fulfilled about 90 percent of the action plans from the last summit which will be reported during the forthcoming Ehingbeti Summit holding from October 11 to 12 2022.

Earlier in his Opening Remark, the President of the Lagos Chamber of Commerce and Industry, Dr. Michael Olawale-Cole represented by the Deputy President, Mr. Gabriel Idahosa stated that the decision of the Lagos State government to collaborate with the Chamber on the 30years Development Plan reflects government’s appreciation and recognition of the Organized Private Sector in the realization of the socio-economic objectives of the state and nation in general.

He therefore assured the state government of the support of the Lagos Chambers of Commerce and Industry in ensuring the effective implementation of the State Development Plan and promised to enlighten the business community of the opportunities and benefits that are in the plan and why they should be part of it.​


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