Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,248 members, 7,780,512 topics. Date: Thursday, 28 March 2024 at 03:43 PM

Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups (14031 Views)

Lagos Suspends Planned Mass Burial For #endsars Victims / Chinese Loans: How FG Signed Empty Loan Repayment Documents – Reps / Fateema Aduke Mohammed Supporter Killed In Lagos, Suspends Her Campaign (2) (3) (4)

(1) (2) (Reply) (Go Down)

Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by agwom(m): 7:17am On Apr 09, 2020
As part of its efforts to reduce the financial burden on 11,000 Micro, Small and Medium Enterprises (MSMEs) and technology start-ups in the state, which accessed its loans, the Lagos State Employment Trust Fund (LSETF) has placed a moratorium on repayment of the loans by the beneficiary enterprises. The Acting Executive Secretary of the Fund, Teju Abisoye, who disclosed this in Lagos, described the moratorium as part of the relief measures by the state government to assist SMEs amidst the shutdown occasioned by the COVID-19 pandemic. Specifically, the LSETF boss noted that the pandemic had adversely affected trade and other business activities globally; resulting in SMEs and larger corporations seeking suspension of their loans repayment. Abisoye explained that the gesture will help keep the struggling SMEs in business and serve as a spark of optimism in anticipation of a quick return to normalcy and business continuity.

She explained: “Some SMEs had obtained loans from LSETF for their business growth, prior to the coronavirus outbreak. However, trade has been stagnant, so the moratorium is part of the relief measure by the state government to assist SMEs amidst the shutdown. We are passionate and committed to enabling every productive resident in Lagos to dream, grow and succeed in their endeavours. “We are keen to helping them get access to affordable financial and other institutional support needed to create wealth and employment for our youth, while significantly contributing to building a 21st century economy for Lagos in alignment with the state Ggovernment’s THEMES agenda.

“We understand that to do this, we must engender an enabling environment for small businesses to operate and thrive. In recognition of the difficulty that businesses may encounter this period, we understand that many of them will not be able to meet their loan repayment obligations,” she said. The LSETF has also suspended the ‘Lagos Innovates Workspace Vouchers Programme’, which was designed to support and facilitate access to well-equipped workspaces and learning for potential innovators and founders of start-ups in the Lagos tech ecosystem. The programme was suspended for a month due to the lockdown by the government.
https://www.dailytrust.com.ng/lagos-suspends-loan-repayment-for-msmes-tech-start-ups.html

12 Likes 1 Share

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by Smithkafors(m): 7:20am On Apr 09, 2020
Lagos State government,where is the 10billion naira given to your people.10 billion is a whole lot of money!

9 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by Babatunde40(m): 7:25am On Apr 09, 2020
Don't be surprised that now, the connected politicians will take this MSME and tech loans and back date it so that they can benefit from zero interest rate

5 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by ILoveDemMANNA: 7:26am On Apr 09, 2020
Nice one LASG. State of first first first. I will see the end of this virus. We will defeat Corona together as a nation.

25 Likes 5 Shares

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by ILoveDemMANNA: 7:26am On Apr 09, 2020
Smithkafors:
Lagos State government,where is the 10billion naira given to your people.10 billion is a whole lot of money!
Better don't let wailing kill you before your time. Una no dey ever see anything positive for once in your frustrated lives? Na swear or na curse?

37 Likes 5 Shares

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by ignis: 7:26am On Apr 09, 2020
This is a proactive government that understands the plight of the people unlike Buhari and his Federal government team.

You can't expect people to pay back load admist lockdown.

2 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by YummySuits(f): 7:26am On Apr 09, 2020
Nice

3 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by fleps(m): 7:27am On Apr 09, 2020
Nice o

3 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by Nobody: 7:27am On Apr 09, 2020
Smithkafors:
Lagos State government,where is the 10billion naira given to your people.10 billion is a whole lot of money!

you wan share
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by NaijaStudios: 7:27am On Apr 09, 2020
Ooin
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by oluseyiforjesus(m): 7:28am On Apr 09, 2020
Hw pple attend church online service

3 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by vasco01(m): 7:29am On Apr 09, 2020
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by Ayoswit(f): 7:29am On Apr 09, 2020
This is commendable cool

4 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by Roon9(m): 7:29am On Apr 09, 2020
Nice one
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by wonuks(m): 7:29am On Apr 09, 2020
cool
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by OkoAmarashy: 7:31am On Apr 09, 2020
Smithkafors:
Lagos State government,where is the 10billion naira given to your people.10 billion is a whole lot of money!

Lagos State gave 25 Billion to startups and businesses.

10 Billion may be a whole lot in your state, but it is not up to what Mushin Local Government generates in 3 months.

17 Likes 2 Shares

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by espn(m): 7:32am On Apr 09, 2020
Who dem give loan before
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by AngelicBeing: 7:33am On Apr 09, 2020
Smithkafors:
Lagos State government,where is the 10billion naira given to your people.10 billion is a whole lot of money!
Sanwolu don swallow the osusu grin
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by OkoAmarashy: 7:33am On Apr 09, 2020
AngelicBeing:
Sanwolu don swallow the osusu grin

They must have used it to buy toilet paper for the patients in the hospitals.

Sanwo-Olu is not like Ikpeazu that has eaten you future and you guys are economic refugees.

4 Likes

Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by kantap: 7:33am On Apr 09, 2020
Y
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by sylve11: 7:33am On Apr 09, 2020
cool
Re: Lagos Suspends Loan Repayment For MSMEs, Tech Start-Ups by wilemer: 7:34am On Apr 09, 2020
agwom1:
As part of its efforts to reduce the financial burden on 11,000 Micro, Small and Medium Enterprises (MSMEs) and technology start-ups in the state, which accessed its loans, the Lagos State Employment Trust Fund (LSETF) has placed a moratorium on repayment of the loans by the beneficiary enterprises.

The Acting Executive Secretary of the Fund, Teju Abisoye, who disclosed this in Lagos, described the moratorium as part of the relief measures by the state government to assist SMEs amidst the shutdown occasioned by the COVID-19 pandemic.



thats the minimum you can do

(1) (2) (Reply)

Why Are There So Many People In Nigeria Compared To Other Countries In Africa / Pictures Of Arraigned Suspects Of The Fuel Subsidy Scam. / Okonjo-Iweala Denies Pursuing Igbo Agenda Allegation

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 20
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.