As a signature effort to empower the youth to become more economically active within their community and contribute greatly to the socioeconomic advancement of the state and the country at large, Hon. Abiodun Orekoya representing Somolu constituency I in conjunction with Lagos State Employment Trust Fund (LSETF), Corporate Affairs Commission (CAC) and Ministry of Wealth Creation and Employment held a one-day youth’s capacity building summit for over 3,000 youth.
Hon. Orekoya, in his remarks at the event, tagged “Onboarding Sustainable Future Leaders” which was held on Wednesday 27th September, 2023 at the Arena Solution, Ikorodu Road, Onipanu, Lagos, said that the young generation needed to renew, refresh, and maintain the status of society at an enviable height as they contributed their ideas and energy to resolve societal issues.
“Youths are the future of every society. It is a known fact that they become capable leaders who could make a meaningful impact in society and the lives of others. This is the maiden edition and it is set to unlock the economic potential of our youths, expose them to opportunities that are available in different spheres, and capacity building in Lagos state”.
“To earn respect we must end poverty. Our partners, the Bank of Industry (BOI), Lagos State Employment and Corporate Affairs Commission were carefully selected based on the yearnings of our youths and their set goals, and the organizations are already in the business of empowering our youths”.
The Divisional Head, SMEs Directorate of Bank of Industry (BOI), Obaro Osah while making his remarks, urged youths to always dream big and start small in their business careers stressing that youths ought to be well-informed about the business they intend to venture into.
“We urge the youth to always dream big and ensure they start small in any business they intend to venture into. They need to be well informed, read business news, create time for knowledge building, and share ideas among themselves. They need to form a partnership by coming together and pulling resources to establish with written agreement. This will help them to grow faster,” He said.
Mr Osah also urged the youth to ensure they register their businesses with the Corporate Affairs Commission to allow them to gain access to loan facilities in the bank. BOI had a good capital base, which gave opportunity to any registered businesses to have access to loan facilities in the bank.
Meanwhile, the Director of Finance, Lagos State Employment Trust Fund (LSETF), Adewunmi Oni, in his address, urged the youth to create entrepreneurial skills for self-reliance stating LSETF had the ability to offer loans to artisans and entrepreneurs who needed additional capital to thrive in the business without collateral.
According to him, the agency has engaged a number of youths within the age bracket of 18 to 45 in capacity building for four weeks to eight months.
“We place them in the organization where their skills are needed or required or for self-reliance according to their ability. Our agency also organized an idea hub where mentees meet mentors for business and skill acquisitions. So we encourage the youth to visit our website as there are many opportunities lined up for youths to benefit from,” He said.
One of the participants, Segun Olukoya, thanked the lawmaker for organizing such an expository capacity building for teeming youths to benefit from saying that he would tap into various opportunities he was exposed to as he was planning to enlarge his business.
Another participant, Kaosarat Lawal, hailed the lawmaker for the capacity building, saying that such enlightenment would help her improve more on her business.
“I really gained a lot in this session, and I know that from now my business will not remain the same any longer. First, I discovered that I needed to register my business. Even with as low as N10,000 to N15,000, I can do that which gives me access to get a loan from BOI”.
“I really appreciate the summit and I advise other youths and business owners out there to imbibe the economic development put in place by the government,” She said.