By Dotun Akintomide
The Lagos State Governor, Mr. Akinwunmi Ambode has announced the approval of N4bn loans to be disbursed to over 2,000 beneficiaries through the Lagos State Employment Trust Fund (LSETF).
The New Diplomat gathered from Governor Ambode who spoke at the 2017 Biennial Convention of the Nigerian Guild of Editors (NGE) last Saturday in Lagos that the loans will promote local products and services through the Micro, Small and Medium Enterprises (MSMEs).
It was learnt the LSETF is an initiative of the Lagos State government to invest N25bn over four years to empower Lagosians engaged in Micro, Small and Medium Enterprises (MSMEs) and boost job creation in the state by granting loans at 5% interest per annum.
He said, “Lagos will continue to promote locally made goods and work on the ease of doing business in Lagos by making it a lot more easier for people to have access to all documents needed for proper business registration in the State.”
Speaking on recession, Ambode said the current recessionary climate has presented new challenges and opportunities for Nigerians to think outside the box to change the Nigeria’s story from the “business as usual” to “business unusual.”
He said his administration has partnered private sectors through the Public-Private Partnership (PPP) to deliver on strategic infrastructure projects such as the Fourth Mainland Bridge; Oshodi Transport Interchange; Badagry Deep Sea Port; Lekki Free Trade Zone; and the Lagos Smart City Projects among others.
He added that the State’s GDP now stands at $136bn ranking as the fifth largest economy in Africa.
“We will continue to initiate programmes aimed at putting Lagos on the African and global map.” Ambode said.
While charging the members, Nigerian Guild of Editors who had the 2017 Convention entitled “A Nation in Recession: Whither the Nigerian Media?” Ambode urged the guild to do more on censoring what is being published on the front pages of their various newspapers, noting that the reports go a long way in shaping both the local and foreign perceptions about Nigeria.
He also commended the role of the media as the real drivers of good governance, leadership and followership in the country.
Other speakers at the occasion included, Mr. Emma Agu of The Champion Newspaper, Malam Yussuf of The Daily Trust Newspaper and the Minister of Information and Culture, Alhaji Lai Mohammed, who was represented by the Managing Director of the News Agency of Nigeria (NAN), Mr. Bayo Onanuga.
On his part, the Minister of Information and Culture blamed the media for sensationalizing the recession, saying most Nigerians barely understood what recession means due to the wrong view presented in the media.
The minister said that recession was not peculiar to the country alone, saying the United States of America had experienced 47 recessions with some leading to depression.
According to him, “Between 1980 and 2007 alone, the American economy experienced five recessions. The last one in 2007 was caused by the serious mortgage crisis leading to the collapse of the US housing bubble,” he said.
Mohammed urged the media to stop the blame game and educate Nigerians on the efforts being made to end recession.
“Informing the people that the government is working hard to end the recession will go a long way to give hope to the people.
“After all, it is said that, if you keep hope alive, it will keep you alive,” the Minister said, though to the audience bemusement.
