The announcement was made on Tuesday in a statement by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga.

Idris Olorunnimbe was appointed Chairman of NCC, while Dr Aminu Maida remains its Executive Vice Chairman/Chief Executive Officer.

President Tinubu appointed Wada to the position in October 2023, and the Senate confirmed the appointment in November 2023.

Mr. Olorunnimbe previously served on the Lagos State Employment Trust Fund, LSETF, Board, where he chaired the Stakeholder and Governance Committee and drove impactful youth employment and entrepreneurship programmes.

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Other members of the board are:

1. Abraham Oshidami – Executive Commissioner, Technical Services
2. Rimini Makama – Executive Commissioner, Stakeholder Management
3. Hajia Maryam Bayi- Former Director, Human Capital & Administration
4. Col. Abdulwahab Lawal (Rtd)
5. Senator Lekan Mustafa
6. Chris Okorie
7. Princess Oforitsenere Emiko
8. Secretary of the Board.

The president also approved the Board of the Universal Service Provision Fund, USPF, with Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, as Chairman.

Other members are:

1. Idris Olorunimbe – Vice Chairman
2. Abraham Oshidami
3. Rimini Makama
4. Aliyu Edogi Aliyu – (Rep FMCIDE)
5. Joseph B Faluyi – (Rep. of Federal Ministry of Finance)
6. Auwal Mohammed – (Rep. of FMBNP)
7. Uzoma Dozie
8. Peter Bankole
9. Abayomi Anthony Okanlawon
10. Gafar Oluwasegun Quadri and the
11. USPF Secretary

The federal government established the Universal Service Provision Fund, USPF, to facilitate the achievement of national policy goals for universal access and service to information and communication technologies, ICTs, in rural, unserved and underserved areas in Nigeria.

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The state government’s employment agency disclosed that it had disbursed over N10 billion in business grants to support new and existing enterprises, with 86 per cent of beneficiaries meeting their loan repayment obligations.

The details were made public by the LSETF Acting Executive Secretary, Mrs. Feyisayo Alayande, while briefing reporters at the Bagauda Kaltho Press Centre in Alausa on the activities lined up for the third Lagos Employment Summit being organised by the agency.

The one-day summit, with the theme: “Job Creation – Uniting for Impact: Create, Collaborate, Change”, will hold on Wednesday at the Eko Hotels and Suites, Victoria Island.

Alanyande said LSETF, since inception, had organised 220,000 business sustainability trainings for thousands of entrepreneurs, while supporting new business ventures to scale up and refocus their financial growth to create jobs and improve business opportunities.

She said: “Since inception of our operations, we have provided good support to businesses in terms of funding. We have done about N10 billion disbursement till date in terms of creating access to seed capital and business financing for enterprises across sectors. We have done about 220,000 entrepreneurial trainings for Lagosians, while supporting about 500,000 businesses.

“As at two months ago, we had over 83 per cent collection rate, which means that the majority of our loan beneficiaries have paid back their facilities. As I speak, we have moved the collection rate up to 86 per cent. This means that we have been performing better.

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“Our beneficiaries are constantly reminded about their obligations to repay the loan given to them to scale up their businesses. Our goal is to achieve total repayment. Any beneficiary who defaults the loan repayment is automatically denying someone else the opportunity to benefit from the scheme.”

Speaking on the employment summit slated for Wednesday, the LSETF boss said the event would offer a platform for stakeholders on Entrepreneurship and Employability markets to explore collaborative strategies and best practices in catalysing job creation.

The event, she said, would explore diverse contemporary perspectives and viewpoints on job creation through curated sessions and topics.

Alayande said the agency would be launching Labour Market Information System that would provide up-to-date information to individuals and institutions seeking data about employment within the state.

The summit, she added, would reaffirm LSETF’s commitment to its mandate of empowerment and sustaining businesses.

“The Lagos Employment Summit aligns with our mandate to promote economic growth and job creation opportunities for the vibrant people of Lagos State. With this year’s edition, we aim to stimulate inclusive discourse and develop strategies that drive impactful job creation initiatives,” the LSETF boss said.

Commissioner for Wealth Creation and Employment, Hon. Akinyemi Ajigbotafe, noted that the summit was the state government’s strategic plan to fostering economic growth and creating sustainable employment opportunities.

LSETF Director for Strategy, Funding and Stakeholders Management, Ms. Sherifah Balogun, said the event would mark another milestone in the agency’s journey towards achieving the vision of the Governor Babajide Sanwo-Olu administration to empower people and create decent means of livelihood for Lagosians.

“We are delighted to host the third edition of the employment summit. We believe partnership is critical factor that is instrumental to LSETF’s success over the years. We are leveraging the event to bring all stakeholders from diverse sectors on common ground, thereby setting the stage for rewarding collaborations,” Balogun said.

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The governor said the state yearly committed billions to Lagos State Employment Trust Fund, LSETF, to support startups and Micro, Small and Medium Enterprises, MSMEs, operated by young entrepreneurs, but said the intervention was not enough to cater for the growing demand.

Sanwo-Olu called for more investment funding opportunities for the youth when he received a delegation from Prince’s Trust International – a global youth charity – on a courtesy visit on Wednesday at the State House, Marina.

The delegation was led by the charity’s Chief Executive Officer, Mr. Will Straw, and chairman of the Board of Trustees, Mr. Shabir Randeree.

Prince’s Trust International was founded in the United Kingdom (UK) by King Charles III, to tackle the global crisis of youth unemployment.

Sanwo-Olu said the state government, through the LSETF, had sustained over 50,000 new MSMEs established by young people by providing the seed capital to keep the enterprises afloat.

The number, he said, was a far cry from demand from young people willing to create and build their businesses in the state.

The governor said the effort must be doubled, with the objective to spread the wealth across startups in the ecosystem and create new jobs.

He urged the charity to channel its funds towards creating more opportunities for entrepreneurs in need of business development skills and seed capital.

That, he said, would widen employability and encourage the growth of MSMEs.

He said: “Lagos State Employment Trust Fund has been doing a lot of great things in supporting local enterprises and startups, but we need to double the numbers in response to high demand and unemployment rates. Yearly, we have a register of large number of applicants waiting to use the funds to build new businesses and do a lot more.

“Given our large youth population, what we require is skill development. We actually can provide the space and double the resources required to develop these capable young people. We must be able to give this population the right skills and help them to thrive in modern economic realities. This is where charities and other non-governmental organisations in the job ecosystem can provide support and interventions.”

Sanwo-Olu said the recently launched Lateef Jakande Leadership Academy, LJLA, was geared towards equipping the youth with the knowledge and industry-specific expertise to create wealth and raise future leaders.

The governor pointed out that advancement in technology had been making the modern economy operate without barriers, praising the charity for embedding technology into its intervention programmes in Nigeria.

“The major takeaway for us as a state government is the ability to scale up our intervention because we have the numbers. We are not going to take the back seat and watch people to drive this employment initiative. We are willing to participate in this programme by providing funding support to make more young people benefit,” Sanwo-Olu said.

Straw disclosed that the charity had worked with LSETF in the past 20 months and was ready to deepen its relationship with the agency, noting that the organisation had the ambition to support thousands of young Nigerians and others across Africa.

Straw said the then Prince Charles (now King Charles III) founded the charity in 1976, at the age of 27, as the largest youth charity in the UK, supporting vulnerable young talented people in building their skills.

Internationalisation of the charity, he said, was followed by Charles’ visit to Nigeria where he gave commitment to expand the scope of the intervention to the youth in Commonwealth nations in which Nigeria is a member.

He said the charity had two projects in Nigeria, one of which is “Get Into” that focuses on preparing the young people with the skills in teamwork, problem solving, responsibility, and communication.

After the pilot programme, Straw said 96 per cent of the young people trained ended up in workplaces after completing the programme.

The second project of the charity, he said, was Enterprise Challenge — a school-based programme helping young people to gain entrepreneurial spirit in their teenage years.

Straw said: “We know the incredible power you have as a governor, which is why we would like to work with your office to raise the profile of our programmes and also to think about how we can work together to expand the reach of these programmes.”

The charity’s Africa Advisory Board’s member and founder of Stanbic IBTC Bank Plc, Atedo Peterside, said the charity made the right choice to choose Lagos as its starting point, because of greater economic impact that could be achieved by the programmes.

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Themed “Sustainable Job Creation Strategies: Collective Action and Prosperity for All”, this year’s edition of the summit will foster deliberations about progressive economic and social solutions to unemployment problems in the state.

At the press conference held to announce the upcoming event on Friday, February 4, 2022, Mrs. Teju Abisoye, Executive Secretary, L.S.E.T.F., stated that sustainable job creation strategies were a much-needed conversation among industry players in the entire socio-economic space.

“This event will spotlight various speakers with diverse wealth of experience across the entrepreneurial, advocacy, governmental and private sectors,” she said.

“We share in the philosophy that the issue of unemployment is a shared responsibility of both the government, corporates, and individuals; hence, we are always elated to partner and collaborate as much as we can, and this summit further positions us in the right direction,” she added.

This year’s summit, which will feature 90 speakers and 15 plenary, presentation, and breakout sessions, is designed to further discuss innovative and sustainable approaches to job creation, drawing experiences, expertise, and interventions of notable local and international institutions, including public, private, and non-profit organisations.

Lagos State governor, Mr. Babajide Sanwo-Olu, who will headline the summit with a keynote address, will be joined by Mrs. Bola Adesola, chairman of LSETF; Mr. Sam Egube, Lagos State Commissioner for Economic Development and Planning; Mr. Aloysius Uche Ordu, Director, Africa Growth Initiative; Ian Hommers, Country Director Nigeria & Ecowas, (G.I.Z.); Jumoke Oduwole, Secretary, Presidential Enabling Business Environment Council (P.E.B.E.C.); Obi Asika, Founder, Iba Ajie; Nnamdi Ezeigbo, C.E.O. Slot Systems Nigeria, as well as leaders from Jumia, Ford Foundation, Lagos Business School (L.B.S.), and more than 70 other notable speakers to interrogate the topics that include The Workforce of the Future: ‘Gig Economy’ – opportunities, challenges, and strategies for success; Women’s economic empowerment as a tool for economic growth; Orange Economy: A driver of youth employment in emerging markets; Partnering for Impact: Critical areas that drive youth employment; Job Centres: Preparing Youth for a Resilient Career; amongst others.

In addition to the deliberations and conversations, there will be an innovation challenge, tagged the “Lagos State Employment Summit Innovation Challenge”, where tech innovators will proffer resourceful solutions to increase jobs creation in Lagos State.

This process will include the submission of pitches, judges’ reviews, shortlisting of applications, and the announcement of the finalist and winners.

There will also be clinics to equip young professionals with contemporary skills for the 21st-century workplace.

In his remark, the Lagos State Commissioner for Economic Development and Planning, Mr. Sam Egube, said, ‘this Summit aligns with the Next Level goals of the Federal Government and the Lagos State Government’s flagship policy thrust, the T.H.E.M.E.S. Agenda on job creation and “Making Lagos a 21st Century Economy”. As you may recall, Mr. Governor, in his 2020 New Year’s address, reiterated that “our focus on improving the business environment for small and large businesses across the State will create countless opportunities for business expansion and job creation.” This Summit, therefore, further pinpoints us towards achieving this charge’, he said.

Sponsorships and partnerships are welcome by the Lagos State Employment Trust Fund and the Ministry of Economic Planning and Budget to further drive the objectives of the Summit.

Participants interested in the Lagos Employment Summit are required to register online at www.lagosemploymentsummit.com.

Attendance is free but there will be limited seats for physical participation due to COVID-19 protocols.

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The scheme aims to cushion the impact of COVID-19 pandemic on low-cost private schools by ensuring lending at an attractive interest rate.

The programme will provide access to finance where participating schools can each be availed up to N5 million as well as capacity development, business and financial advisory.

There will be monitoring and evaluation to ensure prompt loan repayment.

To enjoy this funding opportunity, applications will be submitted via the LSETF portal for screening while successful applicants will be passed on to FirstBank for the loan appraisal and disbursement process.

The loan is meant for working capital and asset finance to enable schools resuscitate their practice, acquire needed materials, upgrade their facilities, as well as pay staff salaries in order to bounce back, especially after the lockdown.

This scheme promotes entrepreneurship in Lagos State which is in tandem with the vision of LSETF to create employment and entrepreneurship opportunities for Lagos residents.

It has provisions for Micro Enterprises, ME, and Small and Medium Enterprises, SMEs, across all the 57 LCDAs in the 20 LGAs in Lagos State.

Sanwo-Olu, the governor of Lagos State said the N5 billion Education Loan Programme was a precursor to many more human development sector-specific support programmes that would be unveiled by the LSETF on behalf of the State Government next month.

The governor explained that the intervention was necessary, given the importance of education to building human capital.

He said his administration took education as critical building 21st century economy and realising objectives set out in the T.H.E.M.E.S. agenda.

The beneficiaries, Sanwo-Olu said, would have access to single-digit loan facilities to fund the provision of the amenities and services needed to aid learning.

He said: “It is thus heart-warming to have First Bank of Nigeria electing to be our exemplary partner for this intervention. With their support, players in the education sector would be getting the financial support they need to boost learning at a single-digit interest rate.

“I also commend the Board of LSETF and the management for this significant accomplishment. They have helped the Lagos State Government build an institution that has engendered public trust and elevated the hope of small businesses and young people, irrespective of challenges faced.”

According to Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited, “at FirstBank we recognise the indelible role played by the education sector in the growth of any economy and this underscores our partnership with Lagos State Government for continuous development of the education services in Lagos State and the nation as a whole. The commitment by the Lagos State Government – including this partnership – to enable schools is quite commendable as this will mitigate the challenges caused by the lockdown on the education sector following the COVID-19 pandemic.”

“With the single-digit funding targeted at about 2,000 low-cost private schools in the State, we are delighted at this opportunity to demonstrate our commitment to the development of education in Lagos State, thereby contributing our quota to further the mandate of the Lagos State Government – in partnership with LSETF – on economic growth, enhanced opportunities for employment and bridging societal gaps in education,” he concluded.

Commenting on the Eduloan programme, Mrs Bola Adesola, Chairperson, Board of Trustees, Lagos State Employment Trust Fund (LSETF) stated that: “According to the NESG, the Education Sector remains a growth area for job creation and a report on job creation by the NBS states that the Education Sector is one of the top 5 sectors that created over 59m jobs in 2017. This fact is buttressed by the data collected by LSETF in previous loan programmes. The objective of the LSETF-FirstEdu loan is to create employment, improve the quality of education for our youth by providing access to affordable finance to low-cost private schools and vocational training centres.

“We are confident that this intervention fund, which is complemented by our free professional and institutional support structures, will ensure that the education ecosystem in Lagos State will witness an improvement in the overall learning outcomes for our children, while positively impacting on the Lagos local economy through wealth and job creation,” she stated.

Only recently, FirstBank partnered with the Lagos State government, Robert & John, IBM and Curious Learning with a resolve to enable the education of 1 million Nigerian students through innovative eLearning solutions that will drive sustainable efforts towards improving education for all.

As part of the partnership, the Bank donated 20,000 units of e-learning devices to the Lagos State government.

These partnerships reinforce FirstBank’s “You First” brand promise of putting not just its customers first but the economy of its host communities.

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The LSETF Employment Summit 2020 themed “Showcasing Leading Practices in Job Creation” is the Fund’s strategic platform that will bring together stakeholders to discuss and share winning strategies, plans, achievements and interventions on sustainable job creation and tackling unemployment in Lagos and Nigeria at large.

The Fund will showcase the impact and learnings from its interventions with representatives from other state governments, corporate organisations and international development agencies responsible for job and wealth creation.

LSETF believes the summit will also be an opportunity to showcase other leading models as case studies for job creation, that can be replicated and used to accelerate existing interventions for a more holistic approach towards tackling unemployment in the country and beyond.

Since the inception of the Fund in 2016, LSETF has positioned itself as a pivotal force in reducing the rate of unemployment in Nigeria, by providing entrepreneurship and employment opportunities for Lagos residents for job and wealth creation.

An independent Impact Assessment Report supported by the Ford Foundation in 2018, shows that beneficiaries of LSETF’s various programmes were able to create almost 100,000 jobs within two years.

In another report by the National Bureau of Statistics, NBS, within the same period, Lagos State created the most jobs in the country, resulting in a 6.7% drop in the unemployment rate in the last quarter of 2018.

In his opening remarks at the press conference to announce the summit, a Member, Board of Trustees, LSETF, Mr. Dele Martins, stated this year’s theme hinges on the understanding that “by drawing successful experiences from both the private and public sectors in putting people to productive work, we can identify sustainable solutions for job creation.”

“I believe strongly that this summit aligns with the ‘Next Level’ goals of both the Federal Government and the Lagos State Government’s THEMES agenda on job creation,” he said.

Speaking further on the summit, the Acting Executive Secretary, LSETF, Mrs Teju Abisoye stated: “We look forward to working with the Nigeria Governors’ Forum as we host representatives of state government across the 35 states, government agencies, NGOs, international donor agencies and corporate organisations across Africa and the world.”

Mrs. Abisoye also encouraged organisations, agencies, entrepreneurs, youth, women and the general public to join the conversation and take deliberate steps to create jobs.

The summit will focus on Jobs for the Future: Leveraging Technology for Job Creation, Generating employment opportunities through Agriculture, Women and Entrepreneurship, Government as an enabler for Job Creation, SME financing, The Importance of Monitoring and Evaluation for Sustainable Impact amongst others.

Some of the confirmed speakers include: Mrs. Ndidi Nwunel, Managing Partner, Sahel Capital; Ms. Sharmi Surianarain,  Chief Impact Officer, Harambee Youth Accelerator, South Africa; Mr. Dipo Faulkner, Country General Manager, IBM; Dr. Ndidi Nnoli, Group Chief, Sustainability and Governance, Dangote Group; Mrs. Ajibola Ponnle, Commissioner, Establishment, Training and Pension and Mrs. Solape Hammond; Special Adviser, Sustainable Development Goals (SDGS) and Lagos Global.

The Fund also appreciated partners and sponsors for their valuable contributions towards hosting a successful summit.

The partners include IBM, Harambee Youth Accelerator South Africa, FCMB, Tek Experts, GIZ, Eko Innovation Centre (EIC), Jobberman, SOS Children’s Village, International Breweries, and Coca-Cola.

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