The Lagos State Government says it has disbursed more than ₦15 billion to over 20,000 small and medium-scale enterprises (SMEs) through the Lagos State Employment Trust Fund, as part of efforts to tackle unemployment and strengthen entrepreneurship in the state.
The Executive Secretary of the Fund, Feyisayo Alayande, disclosed this during a media briefing in Ikeja, where she presented the agency’s 10-year impact report on job creation, enterprise development and economic empowerment.
According to her, the Fund has created over 320,000 direct and indirect jobs since its establishment in 2016, while also helping to preserve about 173,000 jobs that could have been lost.
She added that more than 82,000 small businesses have benefited from capacity-building programmes aimed at improving business sustainability, operations and long-term growth.
The agency also reported that over 30,000 young people have been trained and linked to employment opportunities through various interventions, while its Lagos Innovates programme has supported more than 1,200 technology startups and developed over 3,300 tech talents.
Alayande said the performance figures reflect the impact of targeted investments in entrepreneurship and human capital development, stressing that access to finance, training, markets and networks remains a major barrier for many aspiring entrepreneurs.
She noted that the Fund was created to bridge that gap by providing support in areas where many small businesses struggle to survive or scale.
The Executive Secretary also highlighted the Fund’s strong repayment performance, revealing a 94.53 per cent loan repayment rate among beneficiaries. She said this demonstrates that MSMEs, when properly supported, remain reliable and viable partners in economic development.
She explained that partnerships with organisations such as GIZ, UNDP, King’s Trust International and Lafarge have expanded the reach of the programme, enabling more inclusive impact across different communities.
Alayande shared examples of beneficiaries, including a woman living with disability who gained skills in mobile phone repairs and later started a sustainable business, as well as a female tech entrepreneur who showcased her innovation at GITEX after participating in the Lagos Innovates programme.
Looking ahead, she said the agency plans to expand access to funding, scale up youth training programmes and deepen support for technology-driven enterprises. She also announced that the Lagos Employment Summit 4.0 will hold in the fourth quarter of 2026 to further strengthen collaboration on job creation strategies.
She added that while significant progress has been made over the past decade, more work is needed to ensure wider access to economic opportunities for Lagos residents.
“We are proud of what has been achieved over the last 10 years, but we are focused on doing even more,” she said.