Lagos State Government has disclosed that over 2,220 business owners have applied to the Lagos State Employment Trust Fund (LSETF) for the recovery fund set up to help assist entrepreneurs resume operations after their organisations were attacked and looted by hoodlums last week.
Executive Secretary of LSETF, Mrs Teju Abisoye, announced the number of applications already received by her agency during an interview on Arise TV monitored by Business Post Monday morning. According to Mrs Abisoye, many small business owners in Lagos were rendered helpless as they suffered heavy losses because of attacks on their shops and warehouses. She said as a show of sympathy, Lagos State Government had to step in to help them in this trying period.
She noted that applications were still open and that over 2,200 small businesses had applied with many more expected to come in as many become aware of the initiative. Mrs Abisoye also said the agency will move round the state to also meet with those who may not have the time to apply for the assistance online, noting that members of staff of LSETF have already visited victims of the Fagba ethnic clash to get their details.
Business Post had reported that during attacks by hoodlums that lasted 2 days, several properties owned by government and private individuals were destroyed and burnt, leaving many vulnerable.Over the weekend, through LSETF, the state government pledged to help many business owners who were victims of lootings and vandalisation to get back on their feet.
The agency was established by the Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State. One of its aims is to tackle unemployment through job and wealth creation.
Speaking on how to register to access the facility, the LSETF Executive Director noted that they are expected to fill a document known as the Lagos State SME Recovery form which would make them eligible to the fund when it begins disbursement soon. She noted that applicants would be expected to provide their details, including the names, name of the business, the CAC registration number, physical and email addresses, pictures of the damage, location of the business, estimated amount of loss, number of employees and a few others.
Mrs Abisoye then called on relevant stakeholders including donors to help achieve this ultimate goal. She noted that they could make use of various avenues to reach out including the LSETF website and its social media channels.