In an attempt to cushion the adverse effects of COVID-19 pandemic on tourism and entertainment-related businesses, the Lagos State Governor, Mr Babajide Sanwo-Olu, recently announced the approval of N1 Billion seed capital. This is also to help drive new growth in the tourism sector.
As a follow up to the announcement of N1 Billion seed capital for investment in the tourism and hospitality sector, as disclosed on the official Twitter handle of The Lagos State Govt, the Ministry of Tourism, Arts and Culture has designed an online eligibility form for interested practitioners to have access to the fund.
Explaining the rationale behind the online form, Uzamat Akinbile-Yussuf explained that despite the seed capital being domiciled with Lagos State Employment Trust Fund, the design of the form by the Ministry of Tourism, Arts and Culture would help identify genuine practitioners, who have verifiable information domiciled with the Ministry.
She added that the exercise is to ensure judicious disbursement of funds to genuine and qualified practitioners in tourism, hospitality and entertainment-related businesses.
The following are steps to follow to access the fund:
– Ensure that your business is within the creative and hospitality sector
– Ensure that your business has been in existence for one year and it’s duly registered with the Ministry of Tourism, Arts and Culture or Corporate Affairs Commission, CAC.
– You must have and provide the evidence of your Tax Compliance
– You must have been registered with Lagos State Residents’ Registration Agency, LASRRA
– You would provide Guarantors with sizable income, among other requirements, and
– Click here to apply for the eligibility form, fill and generate a code upon completion of the online form.
She further stated that interested and qualified practitioners to visit the Hotel and Licensing department of the Ministry of Tourism, Arts and Culture at Block 10, The Secretariat, Alausa Ikeja for further clarifications and any other assistance or call 08023320906.