Ondo Plans N15bn Employment Trust Fund

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By James Sowole in Akure

Ondo State Governor, Mr. Oluwarotimi Akeredolu (SAN), has said his administration is planning to establish a N15 billion State Employment Trust with the sole purpose of developing Micro Enterprises, Small and Medium Enterprises (SMEs).

The governor revealed the plan of the administration in a statement signed by his Chief Press Secretary, Ade Akinuoye, saying that the purpose of the intervention is to make Ondo State a worthy living place for residents.

According to the governor, the trust fund, which  would specifically target women-led startup businesses, food and agri-business, health-related startup businesses, environment and energy businesses would be managed by experienced fund managers.

The governor, who spoke during a recent meeting with members of the diplomatic community in Abuja, said his administration planned to make Ondo State an investor destination.

Akeredolu told the diplomatic community that his administration planned a “Project Light-up Ondo” with the application of small renewable energy technologies and captive Independent Power Project (IPP) projects to power at least 60,000 households in the riverine communities of the southern senatorial district of the state.

More to follow…