Lagos disburses N1.9bn to MSMEs to boost small businesses
May 14, 2026 4:26 pm
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The Lagos State Government says it disbursed about N1.9 billion in loans and grants to Micro, Small, and Medium Enterprises across the state in 2025.
The Commissioner for Wealth Creation and Employment, Mr Akinyemi Ajigbotafe, disclosed this on Thursday during the 2026 Ministerial Press Briefing at Alausa, Ikeja.
The News Agency of Nigeria reports that the disbursement of funds was to stimulate economic growth, reduce unemployment, and strengthen entrepreneurship.
Ajigbotafe said the intervention was implemented through the Lagos State Employment Trust Fund.
He said, “Affordable loans worth N1.91 billion were disbursed to 4,036 MSMEs, while grants exceeding N23 million were provided to 65 businesses to support expansion, operations, and resilience.
“The state government remains committed to empowering entrepreneurs and supporting businesses to thrive in line with the T.H.E.M.E.S Plus Development Agenda of Gov. Babajide Sanwo-Olu’s administration.
“These interventions are designed to stimulate economic activities, create jobs, and improve livelihoods across the state,” he said.
The commissioner said the ministry also prioritised inclusivity by empowering 1,050 Persons With Disabilities (PWDs) with entrepreneurship training and start-up tools within the last one and a half years.
He added that residents in underserved communities across the state benefited from entrepreneurship skills and innovation programmes aimed at improving their economic realities.
Ajigbotafe said the ministry, through its specialised ICT training programme, trained 200 unemployed youths in Full-Stack Web Development and Data Analysis and provided them with laptops.
“On employment generation, the Lagos State Graduate Internship Placement Programme has continued to bridge the gap between academic learning and workplace requirements.
“Since inception, the programme has impacted more than 6,500 graduates across the five divisions of Lagos State.
“About 2,500 graduates were successfully placed during the 2024 cycle, which concluded in 2025.
“Beneficiaries undergo a three-week employability training before deployment for a three-month paid internship programme.
“Each intern is also supported with a monthly stipend of N60,000 to ease transportation and other logistics during the internship period,” Ajigbotafe said.
(NAN)
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