Lagos disburses N1.93bn in MSME loans and grants to over 4,000 businesses, boosting jobs, skills and entrepreneurship across the state
The Lagos State Government has disbursed a total of N1.933 billion in loans and grants to micro, small and medium enterprises (MSMEs) as part of a wide-ranging economic empowerment programme aimed at boosting entrepreneurship and job creation.
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The Commissioner for Wealth Creation and Employment, Hon. Akinyemi Bankole Ajigbotafe, announced the figures on Thursday during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
He explained that the intervention was implemented through the Lagos State Employment Trust Fund and formed part of the state’s strategy to stimulate inclusive economic growth and reduce unemployment.
According to him, N1.91 billion in affordable loans was disbursed to 4,036 MSMEs, while N23.628 million in grants supported 65 businesses to strengthen operations and expand productivity.
Ajigbotafe said the interventions were designed to improve business resilience and create sustainable employment opportunities across Lagos.
Beyond financial support, over 8,454 MSMEs benefited from enterprise development and capacity-building programmes aimed at improving business skills and market access.
He added that 848 entrepreneurs were also linked to market opportunities to boost visibility and sales growth.
The commissioner noted that Lagos intensified vocational and technical training in partnership with organisations including GIZ, King’s Trust International, USADF and Diageo, training 3,456 residents across multiple sectors such as construction, hospitality, and the creative industry.
He revealed that 2,127 of the trainees were successfully placed into jobs after completion of the programmes.
Ajigbotafe further disclosed that the state government has signed a partnership with the United Nations Development Programme (UNDP) to train an additional 2,000 residents in 2026.
In a push for inclusion, Lagos also partnered with Lafarge Africa Plc and the Lagos State Office for Disability Affairs (LASODA) to provide vocational training for women and persons with disabilities.
The state also expanded its innovation programmes, incubating 50 startups through its Idea Hub initiative and training about 1,000 tech talents in fields such as cybersecurity, software development and artificial intelligence.
Ajigbotafe said the Lagos State Graduate Internship Placement Programme has supported more than 6,500 graduates since inception, bridging the gap between education and employment.
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He added that job fairs organised by the state continue to connect thousands of job seekers with employers across various sectors, resulting in significant employment outcomes.
