The Lagos State Government has approved a three-month moratorium to operators of Micro, Small and Medium Enterprises who borrowed from the Lagos State Employment Trust Fund.
The Commissioner for Commerce, Industry and Cooperatives, Lola Akande, made this known on Thursday during the Year 2020 Ministerial Press Briefing to commemorate one year of Governor Babajide Sanwo-Olu’s administration.
Akande said Sanwo-Olu granted the moratorium as part of concessions to cushion the effect of COVID-19 pandemic on the MSMEs.
“The moratorium will serve as a palliative, encourage entrepreneurship and sustain the confidence of small scale industrialists and MSME operators in the state,” she said.
Akande urged all Captains of Industry across the state to continue supporting the state government in order to fully deliver the gains of democracy to the people.
She said the ministry would continue to render its support to members of all business organisations toward boosting their businesses.