June 12, 2024

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COVID-19: NI.bn Tourism Seed Capital, Lagos Invites Operators to Access Fund

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Lagos Island Central Business District Radiating In Aquatic Splendor

Lagos State Government has announced the availability of eligibility form for interested tourism practitioners to access the N1billion seed capital announced by Governor Babajide Olusola Sanwo-olu, three months ago, when the nation’s entire economy was locked down at the heat of COVID-19 pandemic.

The Commissioner for Tourism, Arts and Culture, Pharmacist Uzamat Akinbile-Yussuf, who made the announcement of the government readiness to encourage qualified professionals to draw down on the facility said, the eligibility form is available at http://tsp.lagosstate.gov.ng for all interested persons to fill and generate a code upon completion of the online form.

She highlighted a few of the conditionalities to be satisfied by applicants for the seed capital which includes that the products and services offerings of the business must be within the creative and hospitality sector.

Akinbile-Yussuf added that for any of the tourism-oriented businesses to be eligible, it must have been in existence for one year as well as been duly registered with the Ministry of Tourism, Arts and Culture or Corporate Affairs Commission, CAC, depending on the nature of the corporate outfit.

The Commissioner reminded the would-be beneficiaries that it is compulsory they provide Evidence of Tax Compliance, evidence of registration with Lagos State Residents’ Registration Agency, LASRRA and provide Guarantors with sizable income, among other requirements.

She explained that the seed capital for the recovery and revitalization of the hospitality sector is domiciled with the Lagos State Employment Trust Fund (LSETF), but the Ministry of Tourism, Arts and Culture decided to design a form that would help identify genuine practitioners with verifiable information domiciled with the Ministry.

The Commissioner stated that the form would ensure judicious disbursement of funds to genuine and qualified practitioners in the sector.

Pharmacist Uzamat Akinbile-Yussuf, urged those applicants that desired personalized attention, to visit the Hotel and Licensing Department of the Ministry of Tourism, Arts and Culture at Block 10, Government Secretariat, Alausa, Ikeja, for further clarification about the eligibility form, and any other sundry issue, better still they could call; 08023320906, for their genuine and businesslike enquiries.

Mr. Babajide Olusola Sanwo-olu. Governor, Lagos State

Recalled in August 2020, NTH reported that, “Lagos State Governor, Babajide Olushola Sanwo-Olu, has announced the approval of N1 billion seed capital for investments in tourism.

When making the announcement at the Banquet Hall in the State House, Alausa, Ikeja, at the 6th Lagos Corporate Assembly, the Governor said the investment was required to bolster the hospitality sector by providing key operators in tourism business with soft loans to boost their capacity in driving growth.

Pharmacist Uzamat Akinbile-Yussuf, Commissioner for Tourism, Arts, & Culture, Lagos State

The governor said further that the initiative was necessary to position the tourism business as a new frontier for job creation and economic prosperity in the post-Coronavirus era.

Sanwo-olu explained that the seed capital will be domiciled in the Lagos State Employment Trust Fund (LSETF), adding that the funds will be made available specifically to Micro, Small and Medium Enterprises (MSMEs) operators in the sector.

The Governor said the State would also be collaborating with the Central Bank of Nigeria (CBN) to further create access for the fund to support the hospitality business”.

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