Lagos disburses N1.9bn to MSMEs to boost small businesses

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The Lagos State Government says it disbursed about N1.9 billion in loans and grants to Micro, Small, and Medium Enterprises across the state in 2025.

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The Commissioner for Wealth Creation and Employment, Mr Akinyemi Ajigbotafe, disclosed this on Thursday during the 2026 Ministerial Press Briefing at Alausa, Ikeja.

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The News Agency of Nigeria reports that the disbursement of funds was to stimulate economic growth, reduce unemployment, and strengthen entrepreneurship.

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Ajigbotafe said the intervention was implemented through the Lagos State Employment Trust Fund.

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He said, “Affordable loans worth N1.91 billion were disbursed to 4,036 MSMEs, while grants exceeding N23 million were provided to 65 businesses to support expansion, operations, and resilience.

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“The state government remains committed to empowering entrepreneurs and supporting businesses to thrive in line with the T.H.E.M.E.S Plus Development Agenda of Gov. Babajide Sanwo-Olu’s administration.

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“These interventions are designed to stimulate economic activities, create jobs, and improve livelihoods across the state,” he said.

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The commissioner said the ministry also prioritised inclusivity by empowering 1,050 Persons With Disabilities (PWDs) with entrepreneurship training and start-up tools within the last one and a half years.

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He added that residents in underserved communities across the state benefited from entrepreneurship skills and innovation programmes aimed at improving their economic realities.

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Ajigbotafe said the ministry, through its specialised ICT training programme, trained 200 unemployed youths in Full-Stack Web Development and Data Analysis and provided them with laptops.

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“On employment generation, the Lagos State Graduate Internship Placement Programme has continued to bridge the gap between academic learning and workplace requirements.

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“Since inception, the programme has impacted more than 6,500 graduates across the five divisions of Lagos State.

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“About 2,500 graduates were successfully placed during the 2024 cycle, which concluded in 2025.

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“Beneficiaries undergo a three-week employability training before deployment for a three-month paid internship programme.

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“Each intern is also supported with a monthly stipend of N60,000 to ease transportation and other logistics during the internship period,” Ajigbotafe said.

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(NAN)

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