• By Kunle Awosiyan
    In
    Apr 20, 2017
    0 Comments
    Lagos Pensioners

    A total of N16.9billion was released as payment of pension arrears to pensioners in Lagos State between April 2016 and March 2017, while N2billion was disbursed to young entrepreneurs and artisans under the N25billion Employment Trust Fund (ETF) scheme, the State Governor, Mr Akinwunmi Ambode has said.

    Governor Ambode, who stated this on Thursday at the commissioning of ultra-modern headquarters of Providus Bank in Lagos, said his administration has maintained a consistent programme of actively reflating the economy through massive expenditure in infrastructural development and engaging competent local contractors who in turn employ the people.

    While alluding to a recent report of World Economics suggesting that the Nigerian economy would soon grow out of recession, Governor Ambode expressed delight at the fact that the consistent investment of the State Government in critical sectors contributed to the resurgence of the economy.

    He said as a government, his administration was relentless in its commitment to providing a conducive, safe and secure enabling environment for businesses to thrive, adding that efforts were being made daily to improve the ease of doing business in the State especially by working to ensure that all businesses have all they require to succeed, even in a recession.

    “We have maintained a consistent programme of actively reflating the economy through massive expenditure in infrastructural development and engaging competent local contractors who in turn employ our people.

    “Our Employment Trust Fund has disbursed almost N2billion in the last quarter to young entrepreneurs and artisans. We have released N16.9billion for payment of arrears to pensioners in the State between April 2016 and March 2017.

    “Our Light Up Lagos initiative has given traders and artisans extended time to carry out their businesses as we move towards our 24/7 economy. With these actions, we energized the economy and ensured that commercial activities continued in the State,” Governor Ambode said.

    Going forward on the economic recovery plan, Governor Ambode called for a convergence in the foreign exchange rates as well as deliberate strategy to force down the inflation to a single digit and reduce interest rates, saying that such would enable more business people to access funds and meet their obligations.

    Besides, the Governor commended President Muhammadu Buhari over the Economic Recovery and Growth Plan (ERGP) recently released by the Federal Government.

    He said the economic blueprint would go a long way in charting the course for the economic recovery and growth desired by all.
    He also commended the Central Bank of Nigeria (CBN) for efforts at stabilizing the exchange rates, and expressed optimism that the steps being adopted would help ailing businesses to bounce back to profitability.

    The Governor, who equally commended the management of Providus Bank for their commitment to positively impact the banking sector, urged them to come up with programmes that would bring more financial inclusion to Lagos specifically in the area of access to financial services.

    “I urge you, as financial intermediaries, to facilitate the growth of the economy by designing products for the real sector thereby supporting made-in-Nigeria goods. I also urge you to pay special attention to Small and Medium Scale Enterprises because these are the fastest vehicles for job creation and growing new businesses,” Ambode said.

    Earlier, Managing Director of the bank, Mr Walter Akpani commended Governor Ambode for the massive infrastructural development in the State and the efforts at enhancing ease of doing business. 

     

     

    LEAVE A REPLY

    0 Comments

    CAPTCHA
    This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
    Image CAPTCHA
    Enter the characters shown in the image.
    Refresh Type the characters you see in this picture. Type the characters you see in the picture; if you can't read them, submit the form and a new image will be generated. Not case sensitive.  Switch to audio verification.
  • Related Posts

  • Post Comment to Facebook

  • Download the SilverbirdTV Mobile App

  • Never Miss any Video, Subscribe now!

     
  • Latest Stories

    Police Arrest Prime Suspect In GUS Winner's Murder
    Wednesday, September 20, 2017 - 10:31am
    Reasons For Nigeria's Poor Telecoms Service
    Tuesday, September 19, 2017 - 1:34pm
    Implications Of The Nationwide Doctors' Strike
    Tuesday, September 19, 2017 - 1:30pm
    Wayne Rooney Ban 2 Year For Drink Driving
    Tuesday, September 19, 2017 - 12:11pm
  •  
  • Security

    Catholic priest
    3 September, 2017 - 12:40
    The Imos State Police Command has confirmed the killing of a priest, Rev. Fr. Cyriacus Onunkwo in Orlu Catholic Diocese, Imo State.
    31 August, 2017 - 13:49
    Lagos State Governor, Mr. Akinwunmi Ambode has donated N5million to the widow and children of Osaze Omorogbe, a community leader