Lagos State Disburses N1.933 Billion

The Nigeria — Lagos State Government, through its Commissioner for Wealth Creation and Employment, Akinyemi Bankole Ajigbotafe, announced the disbursement of N1.933 billion in loans and grants to Micro, Small and Medium Enterprises (MSMEs) in 2025. This financial intervention, implemented via the Nigeria — Lagos State Employment Trust Fund, included N1.91 billion in affordable loans to 4,036 MSMEs and N23.628 million in grants to 65 businesses. The initiative is part of Nigeria — Lagos State's broader strategy to empower entrepreneurs, create jobs, and deepen economic inclusion. Beyond financial aid, Nigeria — Lagos State also provided enterprise development and capacity-building initiatives to over 8,454 MSMEs and connected 848 entrepreneurs to market opportunities. Strategic partnerships with organizations like Germany — Deutsche Gesellschaft für Internationale Zusammenarbeit, The King s Trust International, United States — United States African Development Foundation, and Diageo led to the training of 3,456 residents in vocational and technical skills, with 2,127 beneficiaries securing jobs. A Memorandum of Understanding was signed with the United Nations Development Programme to train an additional 2,000 Lagosians in 2026. The ministry also partnered with Lafarge Africa, Nigeria — Lagos State Office for Disability Affairs, International — Ministry of Youth Development and Empowerment, and Lagos State Council of Tradesmen and Artisans to provide entrepreneurship and vocational training for women and persons with disabilities. Furthermore, Nigeria — Lagos State Employment Trust Fund incubated 50 early-stage startups and launched the third cohort of the Female Founders and Funders programme. About 1,000 tech talents were trained in various software development fields. The Nigeria — Lagos State Graduate Internship Placement Programme has impacted over 6,500 graduates, with 2,500 placed in 2024, and the ministry organized job fairs connecting job seekers with employers.