His Excellency, the Governor of Lagos State, Akinwunmi Ambode has announced his government will support tech hubs in the Yaba area of the State with grants.
Calling it the new “Silicon Valley”, he revealed this while inspecting technology hubs in Yaba and Oyadiran Industrial Estate yesterday.
The hubs, Co-Creation Hub and Idea Hub, alongside Andela and some techpreneurs will receive grants through the State’s Employment Trust Fund.
Launched last year, the Lagos State Employment Trust Fund‘s aim is to provide financial support to residents of Lagos State, for job, wealth creation and to tackle unemployment.
The Fund has a mandate to directly invest ₦25 billion in helping Lagos residents grow and scale their Micro Small and Medium Enterprises (MSMEs) or acquire skills to get better jobs.
“Our youth are the driving force for economic growth through technological innovation. Yaba is the new Silicon Valley and we will support existing Tech hubs in Yaba,” the Governor said.
The Governor also stated the former Industrial Estate, Sabo-Yaba, will be transformed into a technology hub in order to create new opportunities for the youths and increase the quality of life of the people.