Lagos upheld organizations with cash going from N50,000 to N5 million to recipients to modify their businesses with subsidizing from the government.
Babajide Sanwo-Olu says his administration has upheld 1,835 businesses influenced by the pandemonium that followed the #EndSARS protest with N939.98 million.
The Commissioner for Wealth Creation and Employment, Yetunde Arobieke, unveiled this during the 2021 Ministerial Press Briefing in commemoration of Mr. Sanwo-Olu’s second year in office.
Ms. Arobieke said the ministry set up the Miniature, Small and Medium Enterprise Recovery Fund to support businesses, whose properties and resources were vandalized post-#EndSARS fights that shook the country in October 2020.
She added Lagos upheld organizations with cash going from N50,000 to N5 million to recipients to reconstruct their businesses with subsidizing from the public authority, corporate associations, and private people.
“With a total of 1,835 beneficiaries and N939.98 million disbursed, 10,005 direct jobs and 40,020 indirect jobs were saved.
“The achievements recorded so far by the ministry have been made possible through the unwavering support of the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, in his pursuits to mitigate unemployment in Lagos State,” the commissioner said.
Ms. Arobieke stated further that the governor had approved creating a model and robust online marketplace with a lot of features that make it globally competitive.
The aim, according to her, is to expose the artisans to the global market and scale up their potentials, and government-certified artisans onboarded on the app.
She disclosed that 2,000 artisans selected from registered trade associations were retrained in 2020, while the retraining and equipping of another batch of 2,000 artisans would soon commence.