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By Lukman Olabiyi
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 efforts to stimulate economic growth, support entrepreneurship and tackle unemployment across the state.
The state’s Commissioner for Wealth Creation and Employment, Akinyemi 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, while grants worth N23.628 million were provided to 65 businesses to support operations, expansion and sustainability.
According to him, the initiative forms part of the state government’s broader strategy to strengthen entrepreneurship, promote economic inclusion and create employment opportunities for residents.
“Affordable loans worth N1.91 billion were disbursed to 4,036 micro, small and medium enterprises in Lagos, driving business growth, resilience and expansion for job creation,” the commissioner said.
He added that grants valued at N23.628 million were also given to 65 MSMEs to help cushion operating costs and improve business scalability.
Ajigbotafe disclosed that beyond financial support, over 8,454 MSMEs benefitted from enterprise development and capacity-building programmes, while 848 entrepreneurs were linked to market opportunities aimed at improving visibility and increasing sales.
The commissioner said the ministry also intensified vocational and technical training programmes through partnerships with international development organisations and private sector stakeholders.
According to him, in collaboration with GIZ, King’s Trust International, United States African Development Foundation and Diageo, the state trained 3,456 residents in vocational and technical skills across construction, hospitality and tourism, creative industry, health and beauty, and the green economy sectors.
He stated that 2,127 beneficiaries from the training programmes had already secured employment.
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Ajigbotafe further revealed that the state government signed a Memorandum of Understanding with the United Nations Development Programme to train an additional 2,000 Lagosians in 2026.
Speaking on inclusion, the commissioner said the ministry partnered with Lafarge Africa Plc, Lagos State Office for Disability Affairs, the Ministry of Youth and Social Development and the Lagos State Council of Tradesmen and Artisans to empower women and persons with disabilities through entrepreneurship and vocational training.
He explained that the initiative supported 50 women in construction and 100 persons with disabilities with skills in hairdressing, makeup, shoe and bag production, as well as phone and laptop repairs.
Ajigbotafe also highlighted the state’s growing investment in innovation and technology-driven entrepreneurship, noting that LSETF incubated 50 early-stage startups through its Idea Hub programme and launched the third cohort of the Female Founders and Funders programme involving 30 female entrepreneurs.
He added that about 1,000 tech talents were trained in software development, cybersecurity, full-stack development and artificial intelligence for software engineering.
On employment generation, the commissioner said the Lagos State Graduate Internship Placement Programme had impacted over 6,500 graduates across the five divisions of the state since its inception.
He disclosed that 2,500 graduates were successfully placed during the 2024 cycle, which concluded in 2025, adding that participants undergo a three-week employability training before deployment for a three-month paid internship with a monthly stipend of N60,000.
Ajigbotafe further stated that the ministry organised job fairs and recruitment engagements to connect job seekers with employers across multiple sectors.
According to him, one of the recent recruitment events attracted 2,005 job seekers, including 17 persons with disabilities, and featured over 110 recruiting organisations.
“The event exceeded our initial target of 1,500 participants and enabled meaningful employer-candidate interactions, resulting in several participants securing employment opportunities,” he said.
