Today I am signing into law two bills that are very significant and crucial to the realization of the policy objectives of this administration. The two bills are the Employment Trust Fund and the Lagos State University Bill.
One of our campaign promises was to establish an Employment Trust Fund. Today, we are fulfilling this promise with the official signing of the Bill formally establishing the Employment Trust Fund.
This bill will address the challenge of unemployment and promote wealth creation through entrepreneurial development. As I sign this Bill today, an annual contribution of 6.25Billion Naira will be injected into the Fund by the State Government for 4years totaling 25Billion Naira.
A Board of Trustees made up of core professionals would be announced in due course to manage this fund. More information on the operations of the Fund will be unveiled very soon.
The LASU bill is also a demonstration of our commitment to actualise the dream of its founding fathers. We remain committed to raising the standard of academic excellence to a level comparable to other citadels of learning in the world.
Our desire is to see LASU develop and churn out young professionals who will lead Nigeria to greater heights in the near future
I thank the leadership and members of the Lagos State House of Assembly for the favourable consideration of these Bills and their speedy passage.
Governor of Lagos State
5th January, 2016