Lagos Empowers Over 4,000 SMEs with ₦1.93bn in Loans and Grants
Lagos State has injected ₦1.933 billion into micro, small and medium enterprises through loans and grants to drive economic growth and job creation. The Lagos State Employment Trust Fund disbursed ₦1.91 billion in affordable loans to 4,036 businesses and awarded ₦23.6 million in grants to 65 enterprises to boost operations and resilience. Beyond financing, more than 8,454 entrepreneurs received capacity-building support, and 848 were linked to new market opportunities. Strategic partners including GIZ, King’s Trust International and USADF trained 3,456 residents in vocational and technical skills, placing over 2,100 in jobs. LSETF also incubated 50 startups and launched the third cohort of its Female Founders and Funders programme. The Graduate Internship Placement Programme has onboarded 6,500 graduates, placing 2,500 on paid internships with a ₦60,000 monthly stipend.
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