- As Lagos Govt calls on tourism practitioners to access N1billion seed capital
By Cliffsimeon Akalonu
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 to COVID-19 pandemic.
The Commissioner for Tourism, Arts and Culture, Pharmacist Uzamat Akinbile-Yussuf, made the announcement of Lagos state government readiness to encourage qualified professionals to make use if the facility.
She said that, 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 few of the conditions to be satisfied by applicants for the seed capital which includes, the products and services offerings 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 known with the Ministry.
The Commissioner stated that the form would ensure judicious disbursement of funds to genuine and qualified practitioners in the sector.
Recall that in August 2020, the NTH reported that, “Lagos State Governor, Babajide Olushola Sanwo-Olu, has announced the approval of N1 billion seed capital for investments in tourism.
The announcement was made at the Banquet Hall in the State House, Alausa, Ikeja, during the 6th Lagos Corporate Assembly, Governor Sanwo Olu said the investment was required to booster the hospitality sector by providing key operators in tourism business with soft loans to boost their capacity in driving growth.
The Governor said, the State would also be collaborating with the Central Bank of Nigeria (CBN) to further create access to funds, to support the hospitality business”.
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.