COMMITTED to empowering youths in the state through various forms of skills acquisition and wealth creation, the Lagos State Government has disclosed its decision to inject N25 billion Empowerment Fund aimed at granting soft loans to young entrepreneurs in the state within the next four years with the interest rate of about one per cent administrative charges.

The government says it is one initiative no government or administration across the country and the whole of West Africa has embarked upon or unrivalled.

The State Commissioner for Wealth Creation and Employment, Babatunde Durosinmi-Etti made the disclosure on Monday, while fielding questions on The Jobshow Africa, a live Radio phone-in programme dedicated to assisting job seekers in the state and across the country to securing their dream job and empowering youths with entrepreneurial ideas that airs on Top Radio 90.9 FM and City FM 105.1 Lagos on Mondays and Wednesdays respectively.

Durosinmi-Etti expressed optimism that rate of unemployment in the state would have been reduced drastically before the expiration of the four-year term of the Employment Trust Fund as established by the governor, Akinwumi Ambode.

According to him, the state government is committed to making the loan accessible to every qualified Lagos resident, who has convincing business ideas and innovations regardless of status, tribe, gender, locations, beliefs or political affiliations.