Lagos State Governor, Mr Akinwunmi Ambode has signed the N25bn Employment Trust Fund Bill into law, just as he promised to work hard to address unemployment and promote wealth creation through entrepreneurial development.
Governor Ambode during the signing ceremony at the Lagos House, Ikeja, said the establishment of the Employment Trust Fund was in line with keeping faith with the promise he made to the people during the electioneering campaign.
“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 N6.25billion will be injected into the Fund by the State Government for 4years totaling N25billion,”he stressed.
Three-year single tenure
Meanwhile, a bill that recommends a three-year single tenure for the Vice Chancellor of Lagos State University (LASU) was also signed into law.
The governor said the LASU bill was also a demonstration of his commitment to actualize the dream of the founding fathers of the institution, adding that he remained committed to raising the standard of academic excellence to a level comparable to other citadels of
learning in the world.
While appreciating members of the Lagos State House of Assembly for the favourable consideration of the two Bills and their speedy passage, Governor Ambode said the desire of his administration was to see LASU develop and churn out young professionals who will lead Nigeria to greater heights in the near future.
Law reform commission constituted
Also, Governor Ambode, while inaugurating a new board of the Lagos State Law Reform Commission, restated the commitment of his administration to deepen democracy and rule of law especially by carrying out periodic review of obsolete laws in the State to bring
them in tune with current realities for relevance and effectiveness.
The Governor said such periodic review was important especially to his administration in achieving the goal of creating an enabling environment for investors, entrepreneurs and making Lagos globally competitive.
“This is a major project which the new Board has a responsibility to deliver in record time. It is very vital to the success of our drive to attract investors to our State,” Governor Ambode said.
Speaking earlier at the inauguration, Lagos State Attorney General and Commissioner for Justice, Mr Adeniji Kazeem said the past board was inaugurated on March 12, 2012, and was dissolved by Governor Ambode on June 15, 2015 in accordance with the provision of the law establishing the Commission as amended in 2012.
Responding, Chairman of the newly inaugurated board, Professor Gbolahan Ellias, who spoke on behalf of other members, thanked Governor Ambode for the confidence reposed in them and assured that they would do all within the confines of the law to executive the
mandate fearlessly and conscientiously.