Lagos State Disburses N1.9bn to Boost MSMEs

The Lagos State Government has disbursed N1.9 billion in loans and grants to micro, small, and medium enterprises (MSMEs) as part of its efforts to boost small businesses and stimulate economic growth. Mr. Akinyemi Ajigbotaf, the Commissioner for Wealth Creation and Employment, disclosed this during a press briefing on Thursday.

The funds are intended to reduce unemployment and strengthen entrepreneurship within the state. The disbursement, which has exceeded N23 million for 4,036 MSMEs, is part of the Lagos State Employment Trust Fund initiative.

The government remains committed to empowering entrepreneurs and supporting business growth in line with its development agenda. Additionally, the administration has prioritized inclusive empowerment, providing entrepreneurship training to 1,050 persons with disabilities and offering skills development programs aimed at improving economic realities.

The Lagos State Government has also implemented training programs for unemployed youth, including full-stack web development and data analysis, benefiting 200 individuals.