The Lagos State Government has announced the disbursement of approximately N1.9 billion in financial support to Micro, Small and Medium Enterprises (MSMEs) across the state in 2025, as part of ongoing efforts to strengthen entrepreneurship, stimulate economic growth, and reduce unemployment.
The Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, made this known on Thursday during the 2026 Ministerial Press Briefing held at Alausa, Ikeja. He explained that the initiative was implemented through the Lagos State Employment Trust Fund (LSETF).
According to him, a total of N1.91 billion in affordable loans was distributed to 4,036 MSMEs, while additional grants exceeding N23 million were allocated to 65 businesses to help them expand operations, improve productivity, and build resilience.
Ajigbotafe noted that the intervention aligns with the state government’s broader development blueprint, the T.H.E.M.E.S Plus Agenda of Governor Babajide Sanwo-Olu’s administration, which focuses on economic empowerment and sustainable growth.
He further stated that the support programmes are designed to boost business activity, create employment opportunities, and improve the standard of living for residents across Lagos State.
The commissioner also highlighted efforts to promote inclusivity, revealing that 1,050 Persons With Disabilities (PWDs) were trained in entrepreneurship and equipped with start-up tools within the past 18 months to help them become economically independent.
In addition, he said residents in underserved communities have benefited from various skills acquisition and innovation programmes aimed at improving livelihoods and expanding access to economic opportunities.
Through its ICT-focused training initiatives, the ministry also trained 200 unemployed youths in Full-Stack Web Development and Data Analysis, providing them with laptops to support their learning and future employment.
Ajigbotafe further explained that the Lagos State Graduate Internship Placement Programme continues to serve as a bridge between academic learning and workplace experience, having impacted over 6,500 graduates across the state’s five divisions since inception.
He added that about 2,500 graduates were successfully placed during the 2024 cycle, which concluded in 2025, with participants undergoing a three-week employability training before being deployed for a three-month paid internship.
Each beneficiary also receives a monthly stipend of N60,000 to support transportation and other basic needs throughout the internship period.
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