1. To mitigate the devastating effect of the COVID-19 pandemic on the education industry, The Lagos State Employment Trust Fund in partnership with First Bank has launched the LSETF Edu-Fund Programme, a ₦5bn Post COVID Recovery Support for stakeholders in the education sector. #EducationMeetsFunding

2. The LSETF Edu-Fund Programme is targeted at low-cost privately owned schools and vocational training centres in Lagos State to support economic recovery efforts of stakeholders in the education sector in Lagos State. #EducationMeetsFunding

3. Through this partnership, LSETF & First Banking willingness collaborate to provide matching funds that would be disbursed as a loan programme to support low-cost private schools and vocational training centres in Lagos State. #EducationMeetsFunding

4. This scheme aligns with the Lagos State Government T.H.E.M.E.S Agenda, which seeks to improve Traffic management & transportation; Health & Environment; Education & Technology; Making Lagos a 21st Century Economy; Security and Governance. #EducationMeetsFunding

5. The Nigerian Bureau Of Statistics and NESG report that Education is one of the top 5 sectors that created over 59m jobs in 2017, buttressing Education as a critical growth area for job creation in Nigeria.

6. The loan scheme will be provided to 2 categories of applicants; Micro-Enterprise businesses will receive a sum of not more than ₦500,000 while SMEs will receive a sum of not more than ₦5,000,000.

7. The Fund is available at a fixed interest rate of 9% per annum with an additional business development support to low cost private schools & vocational training centers operating in Lagos State.

8. The qualified institutions are expected to have been in operation for at least one year and have a minimum of 100 students.

9. The objective of the Fund is to improve the quality of education for our youth by providing access to affordable finance to low-cost private schools and vocational training centres.

10. The Loan programme offers participating schools & training centres up to N5 million in facility as well as professional & institutional supports comprising capacity building programmes & business advisory.

11. This intervention is expected to spur significant growth of the schools & the education ecosystem in Lagos State. It will enable job creation opportunities for our teeming young and productive population.

12. The LSETF Edu-Fund Programme is a part of the proactive sustainable solutions by the State Government to curb & limit the socio-economic impact of the COVID-19 pandemic on both individuals & businesses in Lagos State.

13. The N5bn LSETF Edu-Fund Programme for stakeholders in the Education sector in Lagos is a precursor of many more sector-specific support programmes that would be unveiled by the LSETF on behalf of the Government in October 2020.

14. The LSETF Edu-Fund Programme will help tackle the current issues in the educational sector which demands an instant upturn such as the persistent decline in the quality of education & inconsistent investment in the sector over the decades.

15. Edu-Fund will provide loans to Lagos-based low-cost private schools & vocational training centers that have been in operation for at least one (1) year prior to the date of application & have a minimum of 100 students.

16. Presently, low-cost private schools in Lagos State account for over 60% (12,000) of the total number of schools providing education to millions of children from not-so-privileged communities across the state.

17. Before the pandemic, these schools depended on low-cost tuition fees from parents, and double-digit interest loan facilities to fund the provision of the amenities and services needed to aid learning.

18. By providing access to low-cost funding for privately owned schools & vocational training centres in the state, LSETF and First Bank Edu-Fund will help accelerate sustainable & painless return to world-class learning & skills acquisition of our youth

19. The LSETF application process for the Edu-Fund is fair and credible, irrespective of applicant’s affiliation, tribe or gender. This is in line with the ethos of the Lagos State Employment Trust Fund.

20. The LSETF application process is simple and interested applicants can follow the easy steps in the attached image.

21. The LSETF believes that joining forces with First Bankngr is critical to mitigating the adverse economic consequences of the COVID-19 pandemic on the state’s education system.

More

wow!! this is commendable by the Lagos State government. wish other states to follow suit.


Since 2013 I joined Nairaland, this is my very first FTC. Please celebrate with me with some likes.

Way to go.......

Lagos State : The state of firsts!

God bless Lagos State.
God bless Nigeria.

Richdad50:
A classic Ass licker and the embodiment of ' anywhere belle face'.
Richdad

Another kid that always beg for our attention so badly.
If dem no quote MANNA for one day, dem tiny instrument no go ever raise!
Attention seeking tins.
Una go quote, una go tire.
They can never resist it.
Waste of space and time.
Supporters of criminals and looters.

Meanwhile, if you throw stones at every dog that barks at you on the way, you will never get to where you are going in life.

Kids everywhere!
Spits!!

Cashsteady:
Call us licker but that won't change the fact Lagos State is better than the combination of ur 5 se states

Thanks for replying the kid on our behalf jare.
They are only here to create nuisance on this platform.
Don't allow them to get to you please.
Dem no worth am at all.
They are nothing but enemies of progress and developments, they are always in pains reading about any good news in life!

Wickedtruths:
If you like, read 5 Biafran pounds, na you sabi. 1 naira you won't see inside.

Hahaha, wickedtruths, keep hitting their heads with the truth biko.
Na dem get dem eyes, they can use it to read anything dem wan read.
Kokanye mehn!

Everything looks good on paper... But in reality., we all know the set of people that'll benefit more from this

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Hope e go reach their hand

post=94299260:
Way to go.......

Lagos State : The state of firsts!

God bless Lagos State.
God bless Nigeria.

A classic Ass licker and the embodiment of 'anywhere belle face'. Your crumbs-satisfaction level is on the scale I have never seen before on this forum. You sing the praises of those who feed you peanuts. Find a bit of honor you may have left.

Richdad

Ok

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Eko ni baje oo!

Lagos leads

Others follows..

Someone should not come and mention one overrated akwa ibom that is ravaged with poverty, beautiful roads with empty street and slum houses.. lagos is by far the best state in Nigeria haters u can go hug transformer

Cashsteady:
Lagos leads

Others follows..

Someone should not come and mention one overrated akwa ibom that is ravaged with poverty, beautiful roads with empty street and slum houses.. lagos is by far the best state in Nigeria haters u can go hug transformer

Na wa. You are clearly the hater. No one mentioned any other state here, you are the one using your own mouth to do so yet accusing others of being haters?

It is follow by the way, not follows. The Education sector truly needs an overhaul!

Not bad at all....

Here

Well, I'm not responsible for your ancestors who died of kwashiokor and starvation. If you think this 5 Billion would save you from ending up like your ancestors, better guess again.

Awesome... Always taking the lead

@sanwoeko, job well done...

That's great

Philipponzaghi:
Eko Akete.

Kudos to Sanwo-Olu.

These is also part of the reason why Edo is not Lagos!

THIS not these!! ---> This is, These are
This Education fund is truly needed, with all the headache inducing errors one reads here every day.

Kudos to Sanwo Olu.

Lol...I thought I read 5 Bourdi...

Unrealistic

tot:


Na wa. You are clearly the hater. No one mentioned any other state here, you are the one using your own mouth to do so.

It is follow by the way, not follows.

Yh I did because I know some lots would soon come and be showing hatred on this thread and they would start mentioning akwa ibom

This is a good initiative.
I pray it won't get hijacked by people who don't mean well for this state.


Wanna buy a land or house in Lagos and environs?
Contact us through our signature

Viruscorona:
Everything looks good on paper... But in reality., we all know the set of people that'll benefit more from this

Gala and fan yogo hawkers, nothing for them. They don't contribute to the educational sector of Lagos.
Their only use in education is to be used as bad examples.

TheWalkingMind:
Lol...I thought I read 5 Burdi...

If you like, read 5 Biafran pounds, na you sabi. 1 naira you won't see inside.

Cashsteady:

Call us licker but that won't change the fact Lagos State is better than the combination of ur 5 se states

Thanks for replying the kid on our behalf jare.
They are only here to create nuisance on this platform.
Don't allow them to get to you please.
Dem no worth am at all.
They are nothing but enemies of progress and developments, they are always in pains reading about any good news in life!

Wickedtruths:
If you like, read 5 Biafran pounds, na you sabi. 1 naira you won't see inside.

Hahaha, wickedtruths, keep hitting their heads with the truth biko.
Na dem get dem eyes, they can use it to read anything dem wan read.
Kokanye mehn!

Commendable.

Wickedtruths:


If you like, read 5 Biafran pounds, na you sabi. 1 naira you won't see inside.

Nigga, you have to relax. I'm not part of your ancestral frustration.