Korede Abdullah 
LAGOS, Nigeria – The Lagos State Government on Thursday announced the disbursement of N1.933 billion in loans and grants to micro, small and medium enterprises as part of efforts to stimulate economic growth, support entrepreneurship and reduce unemployment across the state.
Commissioner for Wealth Creation and Employment, Akinyemi Bankole Ajigbotafe, disclosed this during the 2026 Ministerial Press Briefing at the Bagauda Kaltho Press Centre in Ikeja.
According to him, the intervention was implemented through the Lagos State Employment Trust Fund and included N1.91 billion in affordable loans to 4,036 MSMEs, alongside grants worth N23.628 million to 65 businesses.
Ajigbotafe added that enterprise development and capacity-building support were also extended to 8,454 MSMEs, while 848 entrepreneurs were connected to market opportunities to improve visibility and sales.
“Out of this figure, 2,127 beneficiaries were successfully placed into jobs, thereby increasing the employability of young Lagosians,” he stated.
Ajigbotafe said inclusion-focused programmes implemented with Lafarge Africa Plc and other state agencies had supported 50 women in construction and 100 persons with disabilities through vocational training initiatives.
“About 1,000 tech talents were also trained in software development, full stack development, cybersecurity and AI for software engineering, among others,” he added.
Ajigbotafe said the Lagos State Graduate Internship Placement Programme has impacted more than 6,500 graduates, with 2,500 beneficiaries placed during the 2024 cycle concluded in 2025.
According to him, participants undergo employability training before a three-month paid internship with monthly stipends of N60,000.
He also disclosed that a recent job fair organised by the ministry attracted 2,005 job seekers, including persons with disabilities, and over 110 employers.
“The event exceeded our initial target of 1,500 participants and enabled meaningful employer-candidate interactions, resulting in several participants securing employment opportunities,” he said.
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Mirian Gom 
