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Lagos Designs Eligibility Form For Businesses In Creative And Hospitality Sector To Access The N1 Billion Seed Capital

N1 Billion Seed Capital

The Lagos State Ministry of Tourism, Arts and Culture has designed a palliative eligibility form for businesses to access the N1 Billion Seed Capital slated for investment in the Tourism and Hospitality sector in the state.

See Also: 2021 ACT Foundation Grant Cycle For African Organisations

This announcement was made by the Commissioner for Tourism, Arts and Culture, Mrs. Uzamat Akinbile-Yussuf on Tuesday as one of the Government responses to the economic challenges posed by the pandemic.

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Start Your Business in 30 Days Even If You Don’t Have An Idea

Akinbile-Yussuf recalled how the Covid-19 pandemic affected all industry especially the tourism and entertainment-related businesses. As a result, the Governor, Babajide Sanwoolu has approved a N1 Billion seed capital to help drive new growth in the tourism sector.

According to the Commissioner; “the rationale behind the online form is to ensure judicious disbursement of the funds to genuine and qualified practitioners in tourism, hospitality and entertainment-related businesses.”

To this effect, the ministry has listed some of the eligiblility criteria for businesses to access the palliative.

See Also: 2021 Forbes 30 Under 30 Nomination For Young Leaders Worldwide

Eligibility Criteria For The N1 Billion Seed Capital

To apply, you must meet the following requirements;

  • Your business must be within the creative and hospitality sector.
  • Must have been in existence for one year.
  • You must be duly registered with the Ministry of Tourism, Arts and Culture or Corporate Affairs Commission, CAC.
  • You must provide Evidence of Tax Compliance
  • Have your Lagos State Residents’ Registration Agency, LASRRA Identity
  • Provide Guarantors with sizable income, e.t.c

See Also: Jim Leech Mastercard Foundation Fellowship On Entrepreneurship 2021 For Young Africans

Although the seed capital is domiciled with Lagos State Employment Trust Fund; the Ministry of Tourism, Arts and Culture designed the form to identify genuine practitioners, who have verifiable information domiciled with the Ministry.

So, if you need further clarifications and any other assistance, visit the Hotel and Licensing department of the Ministry of Tourism, Arts and Culture at Block 10, The Secretariat, Alausa Ikeja or call 08023320906

To access the eligibility form for the N1 Billion Seed Capital, log on to tsp.lagosstate.gov.ng to fill the online form and generate a code upon completion.

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