By Jeph Ajobaju, Chief Copy Editor
Residents of Lagos, estimated at 20 million, can now access the N1 billion business seed capital ring-fenced by the state government for investment in tourism and allied subsectors.
The palliative eligibility form was unveiled in Alausa on Monday by Tourism, Arts and Culture Commissioner, Uzamat Akinbile-Yussuf, who said the form is to assess qualified practitioners in the hospitality, tourism and entertainment sector.
She urged applicants who do business in the sector to fill in the form on the website http://tsp.lagosstate.gov.ng and generate a code upon completion of the online form.
She said the seed capital is domiciled with Lagos State Employment Trust Fund but the Ministry of Tourism, Arts and Culture designed a form to help identify genuine practitioners, who have verifiable information domiciled with the ministry.
Nairametrics quoted Akinbile-Yussuf as saying that the rationale for the online form is to ensure judicious disbursement of funds to genuine and qualified practitioners in the sector-related businesses.
Eligibility criteria
To be eligible for the fund, a practitioner is to meet the following requirements:
· Must be a resident of Lagos State (LASSRA).
· Business must be within the creative arts, tourism and hospitality sector.
· Business must be registered with the Lagos State Ministry of Tourism, Arts and Culture.
· Business must be operational for at least one year.
· For term loan and hub loans/production loans within the SME category, business must be registered with the Corporate Affairs Commission (CAC).
· Must provide guarantors with a sizable income: Two guarantors for term and hub loans/production loans within the SME category. One of the two guarantors must be an Association and one guarantor for term loans within the ME category.
· Evidence of tax compliance.
· Interested and qualified practitioners should visit the hotel and licensing department of the Ministry of Tourism, Arts and Culture at Block 10, Secretariat, Alausa, Ikeja for further clarification and any other assistance or call 0802 332 0906.