Lagos State has injected N1.933 billion into its small business ecosystem over the past year. The funds reached 4,101 micro, small and medium enterprises through loans and grants.
N1.91 billion went out as affordable loans to 4,036 businesses. Another N23.628 million supported 65 enterprises through grants for expansion.
Akinyemi Ajigbotafe, the Commissioner for Wealth Creation and Employment, shared these figures at Thursday's ministerial briefing. He described the move as central to the state's push for job creation and wider economic opportunity.
"We're trying to drive business growth, resilience and expansion," Ajigbotafe noted. The loans were meant to help entrepreneurs strengthen operations and create jobs across Lagos.
Beyond cash support, the state reached over 8,454 MSMEs with training and skills development. Another 848 business owners were connected directly to market opportunities to boost their sales.
International partnerships have shaped the state's approach to skills training. Through GIZ, King's Trust International, USADF and Diageo, Lagos trained 3,456 residents in vocational skills last year.
Construction, hospitality, tourism and creative industries were among the focus areas. Green economy and health and beauty sectors also got attention.
Out of those trained, 2,127 moved into actual jobs. Ajigbotafe said this significantly improved employability for young Lagosians.
The state plans to scale this further in 2026. An agreement with the United Nations Development Programme will train 2,000 more residents this year.
Women and persons with disabilities haven't been left behind. Partnerships with Lafarge Africa, the Lagos State Office for Disability Affairs and other bodies delivered targeted programmes.
Fifty women received construction training through these efforts. One hundred persons with disabilities learned hairdressing, makeup, shoe manufacturing, and phone repair services.
Early-stage startups are also getting support through an incubation programme. LSETF's Idea Hub has backed 50 startups so far.
A female founders initiative just launched its third batch. Thirty female entrepreneurs are part of this cohort.
Tech talent development is another priority area. About 1,000 people trained in software development, cybersecurity and artificial intelligence for engineering.
Graduate employment remains critical to the state's vision. Lagos State Graduate Internship Placement Programme has touched over 6,500 graduates since inception.
Two thousand five hundred graduates have secured jobs through the scheme. The programme operates across all five divisions of the state.
