The 1Billion Naira Lagos State Intervention Funds

The Lagos State Ministry of Tourism, Arts and Culture has designed a palliative eligibility form to enable it evaluate applications of qualified practitioners for its N1 billion seed capital investment in the Hospitality, Tourism and Entertainment sectors. A statement issued at the weekend by the Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbile-Yussuf, said

To be considered eligible for the seed capital, here as the 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 (1) year For Term Loan and Hub Loans/Production Loans within the SME category, business must be registered with CAC.

Must provide Guarantors with a sizable income: Two (2) Guarantors for Term and Hub loans/Production loans within the SME category. One (1) of the Two (2) Guarantors must be an Association and One (1) Guarantor for Term Loans within the ME category.
Evidence of Tax Compliance.

The Ministry implored interested and qualified practitioners to visit the Hotel and Licensing department of the Ministry of Tourism, Arts and Culture at Block 10, Secretariat, Alausa, Ikeja for further clarifications and any other assistance or call 08023320906.

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