The Lagos State Government has disbursed over N1.9 billion in loans and grants to micro, small and medium enterprises across the state as part of efforts to boost entrepreneurship, create jobs and strengthen economic inclusion.
Commissioner for Wealth Creation and Employment, Akinyemi Bankole Ajigbotafe, disclosed this during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
According to the commissioner, the intervention was implemented through the Lagos State Employment Trust Fund.
Ajigbotafe said affordable loans worth N1.91 billion were disbursed to 4,036 MSMEs, while grants valued at N23.6 million were provided to 65 businesses to support expansion and operational sustainability.
He explained that the initiative forms part of the state government’s broader economic strategy aimed at empowering entrepreneurs and reducing unemployment.
Beyond financial support, the commissioner disclosed that over 8,400 businesses benefitted from enterprise development and capacity-building programmes, while 848 entrepreneurs were linked with market opportunities to improve visibility and sales.
Ajigbotafe further stated that the ministry partnered with organisations including United Nations Development Programme, Lafarge Africa Plc and other development agencies to train thousands of Lagos residents in vocational and technical skills.
According to him, 3,456 Lagosians received training in construction, hospitality, tourism, health and beauty, the creative industry and the green economy, with over 2,100 beneficiaries successfully placed in jobs.
The commissioner also revealed that the state government signed an agreement with the UNDP to train an additional 2,000 Lagosians in 2026.
On inclusion, Ajigbotafe said special entrepreneurship and vocational training programmes were organised for women and persons with disabilities in partnership with the Lagos State Office for Disability Affairs and other stakeholders.
He added that the government also expanded investment in technology-driven entrepreneurship through startup incubation and digital skills development programmes.
According to him, about 1,000 tech talents were trained in software development, cybersecurity, artificial intelligence and related fields.
The commissioner further disclosed that over 6,500 graduates have benefitted from the Lagos State Graduate Internship Placement Programme, which provides employability training and paid internship opportunities for young graduates across the state.