The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu has approved a three-month moratorium to members of Micro, Small and Medium Enterprises (MSME), who had borrowed from the Lagos State Employment Trust Fund (LSETF), as part of concessions to cushion the effect of COVID-19 pandemic on their businesses.
The Honourable Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs.) Lola Akande, revealed this in her address at the year 2020 Ministerial Press Briefing organised by the State Government to commemorate the first year anniversary of the Governor Babajide Sanwo-Olu's administration in Lagos State.
She said, "the moratorium will serve as a palliative, encourage entrepreneurship and sustain the confidence of small scale industrialists and MSME operators in the State".
Akande, therefore, urged all Captains of Industry across the metropolis to continue supporting the State Government in order to fully deliver the gains of democracy to the people of Lagos
While reiterating that the Ministry will continue to render its support to members of all business organisations in Lagos, the Commissioner expressed her appreciation to the business community for their support and cooperation with the present administration.