Lagos MSMEs receive over N1.9bn in loans, grants, says commissioner
By Adeola Ogunrinde
Lagos State Government has disbursed N1.933 billion in loans and grants to micro, small and medium enterprises across the state as part of efforts to stimulate economic growth, reduce unemployment and strengthen entrepreneurship.
The Commissioner for Wealth Creation and Employment, Akinyemi Bankole Ajigbotafe, disclosed this on Thursday during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
Ajigbotafe said the intervention, implemented through the Lagos State Employment Trust Fund, included N1.91 billion in affordable loans disbursed to 4,036 MSMEs across the state.
He added that grants worth N23.628 million were also provided to 65 businesses to support operations, expansion and business resilience.
According to the commissioner, the financial support forms part of the state government’s broader strategy to empower entrepreneurs, create jobs and deepen economic inclusion in Lagos.
Ajigbotafe further revealed that more than 8,454 MSMEs benefitted from enterprise development and capacity-building programmes, while 848 entrepreneurs were connected to market opportunities to improve sales and business visibility.
He said the ministry also intensified vocational and technical training programmes through partnerships with organisations including GIZ, King’s Trust International, United States African Development Foundation and Diageo. According to him, 3,456 Lagos residents were trained in construction, hospitality and tourism, the creative industry, health and beauty, and the green economy.
The commissioner also said the state government signed a Memorandum of Understanding with the United Nations Development Programme to train an additional 2,000 Lagosians in 2026, adding that the Lagos State Graduate Internship Placement Programme continues to bridge the gap between academic learning and workplace requirements.
