The Lagos State Government has disbursed ₦1.933 billion in loans and grants to small businesses across the state, the commissioner for wealth creation and employment, Akinyemi Ajigbotafe, announced on Thursday at the 2026 Ministerial Press Briefing in Alausa, Ikeja.
Channelled through the Lagos State Employment Trust Fund (LSETF), the intervention comprised ₦1.91 billion in affordable loans to 4,036 MSMEs and ₦23.628 million in outright grants to 65 businesses, targeted at covering operating costs and improving long-term scalability.
Beyond financing, over 8,454 businesses benefited from capacity-building initiatives, while 848 entrepreneurs were connected to market access opportunities.
In partnership with GIZ, King’s Trust International, USADF, and Diageo, the ministry trained 3,456 residents in construction, hospitality, the creative industry, health and beauty, and the green economy. Of those, 2,127 secured employment, a placement rate of roughly 62 percent.
A newly signed MoU with the UNDP will see an additional 2,000 Lagosians trained before the end of 2026.
Targeted programs reached 50 women in construction trades and 100 persons with disabilities in skills including hairdressing, phone repair, and bag manufacturing, delivered through partnerships with Lafarge Africa, LASODA, and others.
On the technology front, 1,000 individuals were trained in software development, cybersecurity, and AI, while the LSETF’s Idea Hub incubated 50 early-stage startups. A third cohort of the Female Founders and Funders program, comprising 30 women entrepreneurs, was also launched.
The Lagos Graduate Internship Placement Programme has reached over 6,500 graduates since its inception, placing 2,500 during the 2024 cycle alone. Participants receive three weeks of employability training and a three-month paid internship at ₦60,000 monthly.
A recent state job fair drew 2,005 job seekers and over 110 recruiting companies, surpassing its initial target of 1,500 attendees.
The scale of the interventions reflects growing ambition from the state government. But with Lagos home to millions of informal workers and a persistently tight job market, officials acknowledge the work is far from done.
WHAT YOU SHOULD KNOW
The Lagos State Government’s ₦1.933 billion disbursement to MSMEs, paired with training programs, graduate internships, and targeted inclusion initiatives, signals a deliberate and multi-pronged effort to tackle unemployment and economic exclusion in Nigeria’s most populous city.
