Photos: Ambode signs N25Bn Employment Trust Fund Bill & LASU Bill into law, inaugurates Lagos State Law Commission

In fulfillment of his electoral promise, Lagos State
Governor, Mr. Akinwunmi Ambode on Tuesday
January 5 signed the N25bn Employment Trust
Fund Bill into law, just as he promised to work
hard to address unemployment and promote
wealth creation through entrepreneurial
development.
The Governor, who also signed the Lagos State
University Bill into law, described the two bills as
very significant and crucial to the realization of
his administration’s policy objectives.
Speaking at the signing ceremony held at the
Lagos House, Ikeja, Governor Ambode said the
establishment of the Employment Trust Fund was
in line with keeping faith with the promise he
made to the people during the electioneering
campaign.
"One of our campaign promises was to
establish an Employment Trust Fund.
Today, we are fulfilling this promise with
the official signing of the Bill formally
establishing the Employment Trust Fund.
"This bill will address the challenge of
unemployment and promote wealth creation
through entrepreneurial development. As I
sign this Bill today, an annual contribution
of N6.25billion will be injected into the
Fund by the State Government for 4years
totaling N25billion."
Governor Ambode also said that a Board of
Trustees made up of core professionals would be
announced in due course to manage the Fund,
adding that more information on the operations
of the Fund would be unveiled in due course.
On the LASU bill, he said it was also a
demonstration of his commitment to actualise the
dream of the founding fathers of the institution,
adding that he remained committed to raising the
standard of academic excellence to a level
comparable to other citadels of learning in the
world.
While appreciating members of the Lagos State
House of Assembly for the favourable
consideration of the two Bills and their speedy
passage, Governor Ambode said the desire of his
administration was to see LASU develop and
churn out young professionals who will lead
Nigeria to greater heights in the near future.
Earlier, Governor Ambode, while inaugurating a
new board of the Lagos State Law Reform
Commission, restated the commitment of his
administration to deepen democracy and rule of
law especially by carrying out periodic review of
obsolete laws in the State to bring them in tune
with current realities for relevance and
effectiveness.
The Governor said such periodic review was
important especially to his administration in
achieving the goal of creating an enabling
environment for investors, entrepreneurs and
making Lagos globally competitive.
While alluding to the fact that all modern and
civilized societies thrive on the qualities of laws
which regulate and guide the actions of
government, organizations, individuals and
institutions, Governor Ambode charged members
of the Commission to hit the ground running by
expediting action on the creation of electronic
portal that is aimed at providing access to laws
of the State online from anywhere in the world.
"This is a major project which the new
Board has a responsibility to deliver in
record time. It is very vital to the success
of our drive to attract investors to our
State, Ambode said"
Chairman of the newly inaugurated board is
Professor Gbolahan Ellias (SAN), while members
are Dr. Omogbai Omo-Eboh, Mr. Demola Sadiq
and Mrs. Tola Akinsanya. The Executive Secretary
is Mrs. Ade Adeyemo. Speaking earlier at the
inauguration, Lagos State Attorney General and
Commissioner for Justice, Mr. Adeniji Kazeem
said the past board was inaugurated on March
12, 2012, and was dissolved by Governor Ambode
on June 15, 2015 in accordance with the provision
of the law establishing the Commission as
amended in 2012.
Responding, Professor Ellias, who spoke on behalf
of other members, thanked Governor Ambode for
the confidence reposed in them and assured that
they would do all within the confines of the law
to executive the mandate fearlessly and
conscientiously.