Governor Seeks Implementation Of MSMEs Report

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Lagos State Governor Babajide Sanwo-Olu has advocated Executing the recommendations of the Lagos MSME Recovery to lift millions out of poverty.

The governor, who stated this at a virtual meeting to launch the report, noted that the report which was carried out to identify Small Medium Scale Enterprises (SMEs) that were affected during the #EndSARS protest brought to the fore some of the things the government needs to take into consideration in its policy implementation.

The report, he said, revealed that 65 per cent of the people affected were women, adding that there is need to support more of women-driven businesses.

Sanwo-Olu said: “From this report, it is evident that there is need for small businesses to enter into partnerships and affiliations, and organise their businesses into one form or other, so that they can formalise themselves around associations, and sectors, to ensure that they have people that can speak on their behalf and make them become a strong voice in the industry.

READ ALSO:FG sets agenda towards lifting 100m Nigerians out of poverty

“Around registration, the report has revealed how undocumented we are as a people. It is a challenge and opportunity for us to take forward, that is why we are asking for registration around the Lagos State Residency Card. The state residency card is to help them have something to fall back on when occurrences like this happen. We would be able to have the database of the individual. For me, it is to ask ourselves, how do we scale up because there are still some people that deserve of this fund, so it is to find out how to double this support. Let’s support the poorest of our people and lift them out of poverty.

Lagos State Employment Trust Fund (LSETF’s) Executive Secretary Teju Abisoye, said 239 days after the incident, LSETF through MSME Recovery Fund has supported 1,880 businesses with over a billion naira.

Abisoye the agency has saved 10,005 direct jobs and over 40,020 indirect jobs.

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