Lagos Government Disburses N1.9bn to Support Artisans

On Tuesday, during the 16th Tradesmen and Artisans Day Celebration at De Blue Roof, LTV 8 Compound in Agidingbi, Ikeja, Governor Babajide Sanwo-Olu announced that the Lagos State Government has disbursed over N1.9 billion in affordable loans to more than 4,000 small businesses. Additionally, an eight-week training program for 1,200 artisans and tradesmen has commenced.

Sanwo-Olu emphasized the importance of artisans transitioning from mere skill workers to entrepreneurs capable of creating jobs and generating wealth. He stated that eligible small business owners could access loans of up to N5 million at single-digit interest rates without collateral.

The governor also mentioned that 65 enterprises received grants and highlighted the need for artisans to adopt technology and innovation. He discussed the state's Trade Test and Craftsmen Certification Programmes aimed at improving professional standards and protecting genuine artisans.

Furthermore, he linked the growth of small businesses to electricity availability, noting that Lagos has licensed 14 independent power operators and is implementing a 100% metering program.