Lagos restates commitment to developing Entrepreneurs

Luqmon Balogun, Lagos


The Lagos State Government South West Nigeria has emphasised the need to continuously empower entrepreneurs for the development of the economy.

The State says it has programmes through its Employment Trust Fund LSETF to cater for the teeming entrepreneurs across the state to help cushion the effect of improving the living condition of people in the State.

The Chairman Lagos State Employment Trust Fund, Mr Akin Oyebode was speaking at the opening ceremony of  ‘Bialivewell’, a Food Outlet being run by a Trust Fund beneficiary, Engineer. Fadesola Adedayo at the Staff Canteen, Alausa, Ikeja Lagos.

“We gather for the grand opening of a new outlet of Bialivewell, a fast-growing Canadian/Nigerian franchise partnership that aims to bring healthy affordable snacks to Nigerians. Their signature product the Fruzy™, is a creamy frozen dessert made from real yoghurt (never powder)and blended with fruits to give a healthy tasty snack,” Oyebode said

Oyebode who was represented by the Head of Small and Medium Enterprises, LSETF, Mr, Charles Anyawu said that the State’s Trust Fund was poised to improving the quality of individuals with selling plans and ideas that can increase the productivity of the state.

“We fund business with the hope that they are going to grow, we find businesses that we know have potentials for growth because as they grow, they are going to employ more people and ‘Bialivewell’ is one of them,” he said.

He said the State has Loan programme where Small Entrepreneurs SME can get about N5million, Micro Entreprenuers get N500,000 while the Micro entreprenuer start-up is eligible to get about N250,000.

“Besides, there are other employability support project like Job employment training where participants can receive about six different of training,” he said

Successful benefactor
“We are well aware of the current, economic difficulties present within our country and this means that we need to get extra creative and aggressive in our efforts to create a better Lagos for the upcoming generations and our present youths to thrive,” he stated.

The governor of Lagos state, Akinwunmi Ambode developed the N25billion fund monitored by Lagos State Employment Trust Fund (LSETF) to  improve the three pillars of the economy namely; employment, capital and well-being of the masses in Lagos state of which Bialivewell is a successful benefactor.

However, one of the benefactor of the scheme, the CEO of Bialivewell, Engineer Fadesola Adedayo, and his team of executives have been able to utilise the funds to provide gainful employment to Lagosians with more on the way.

Meanwhile, the LSETF is also proud to support this ambitious endevour to move Lagos state forward.

An avenue to thrive
The CEO of Bialivewell, Fadesola Adedayo said the company was founded in 2016 and has been growing and also growing the capital base of the economy as well as providing healthy snacks to the masses

According to him “Bialivewell” is a Canadian/Nigerian franchise partnership that sells Fruzy’s, a healthy frozen dessert made with real yoghurt, with real fruits and real milk, and smoothies that are 100% organic and healthy for people of all ages.

He said apart from being one of the fastest-growing businesses in Nigeria, it is also a joint benefactor of the Tony Elumelu Foundation and Lagos State Employement Trust Fund

In other words, I am grateful to the Lagos state Governor, Akinwunmi Ambode for providing the platform and the executive secretary of the LSETF, Mr. Akin Oyebode for giving Bialivewell an avenue to thrive and grow in Nigeria.

Technology compliant
Adedayo explained that the company in is using the best technologies as the outlet uses energy efficient appliances and is also solar powered which helps to keep the carbon footprint in the atmosphere low improve the climate of the people.

Trust Fund
“The Employment Trust Fund was created by the Governor of Lagos State, Mr Akinwunmi Ambode I think about N25billion to cater for the young entrepreneurs. We approached the State and created a template for creating massive employment with the Lagos State based on the money the LSETF has provided for us.

“I’m happy to announce to you that we have created over 50 jobs within the Lagos State community and we are hoping to provide another 500 in the next two years,” Adedayo said

He said that the company can boast of about three food outlets within the space of a year and six months and its intending to grow further.

Adedayo called on individuals and groups to partner with the company to grow into other states of the federation.

He however enjoined struggling entrepreneurs to always make use of the opportunities in the state and other Fund foundations to better their entrepreneurial skills

The three ‘Bialivewell’ outlets are located in Lekki on Admiralty way, Leisure Mall, Surulere and Alausa Staff Canteen, Ikeja.


Lateefah Ibrahim