The Lagos State Government has disbursed N1.933 billion in loans and grants to micro, small and medium enterprises (MSMEs) as part of the effort to stimulate economic growth, support entrepreneurship and tackle unemployment.

The Commissioner for Wealth Creation and Employment Akinyemi Ajigbotafe said this yesterday during the 2026 Ministerial Press Briefing.

Ajigbotafe explained that the intervention, implemented through the Lagos State Employment Trust Fund, saw the disbursement of N1.91 billion in affordable loans to 4,036 MSMEs, while grants worth N23.628 million were provided to 65 businesses to support operations, expansion and sustainability.

According to him, the initiative is part of the state government’s broader strategy to empower entrepreneurs, create jobs and deepen economic inclusion in Lagos.

Ajigbotafe said: “Affordable loans worth N1.91 billion were disbursed to 4,036 micro, small and medium enterprises in Lagos, driving business growth, resilience and expansion for job creation,” He added: “Grants worth N23.628 million were also disbursed to 65 MSMEs in Lagos to cover operating costs of their businesses, strengthening the businesses’ resilience and scalability.”