LSETF creates 221,172 jobs in eight years, as Sanwo-Olu calls for collaboration to tackle unemployment

By Sodiq Adelakun

The Lagos State Employment Trust Fund (LSETF) has achieved a significant milestone, creating 221,172 direct and indirect jobs in eight years, according to Feyisayo Alayande, executive secretary of LSETF.

Speaking at the third annual Lagos State Employment Summit on Wednesday, Alayande highlighted the fund’s impact, supporting over 83,000 small businesses, saving over 204,000 direct and indirect jobs, and impacting over 500,000 businesses through its MSMEs Loan and business support programs.

Governor Babajide Sanwo-Olu emphasised the need for collaboration to tackle unemployment, stating, “The only way we can do it is collaboration, to identify new partners and for the partners to see the reason with us.”

He noted that the government is not relying solely on the employment trust funds and is seeking to reach a different set of people.

CEO of Nigerian Economic Summit Group (NESG), Tayo Aduloju, suggested that the state can create a million jobs per year, but emphasised that economic growth is essential to solving the problem of jobs. Minister of State for Youth Development, Ayodele Olawande, stressed that collaborative agencies and governments need to focus on creating solutions that address the root causes of unemployment.

Managing Director of MTN Foundation, Odunayo Sanya, highlighted the need for inclusive solutions, citing that many people are excluded from formal education.

The summit, themed “Job Creation Uniting for Impact: Create, Collaborate, Change,” aimed to unite stakeholders in addressing the challenges of unemployment and unemployability in Lagos State.