Disburses N15 billion to over 10,000 MSMEs

Lagos State Government, yesterday, reaffirmed its commitment to creating a business-friendly environment that enables Micro, Small and Medium Enterprises (MSMEs) to thrive, describing the sector as a critical driver of economic growth, job creation and wealth generation.

The assurance was given during the unveiling of a three-day Access to Market Fair, tagged “Lagos on Display,” at the JJT Park, Alausa, Ikeja, which was organised by the Lagos State Employment Trust Fund (LSETF) under the Ministry of Wealth Creation and Employment.

The Fair brought together about 300 entrepreneurs and featured business support services, including on-the-spot loan applications, enrolment into the Lagos State Health Insurance Scheme (Ilera Eko), product exhibitions and discounted sales aimed at expanding market access for local businesses.

The state’s Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, while speaking at the event, said the initiative reflects Governor Babajide Sanwo-Olu’s unwavering commitment to building an enabling environment where entrepreneurs can unlock their full potential and grow sustainable businesses.

Ajigbotafe, who was represented by the Director of Employment in the ministry, Shitta Demilola, said the state government remains focused on implementing policies and programmes that promote enterprise development, skills acquisition, employment generation and sustainable wealth creation.

According to him, the LSETF has so far disbursed more than N15 billion to over 10,000 businesses, demonstrating government’s sustained investment in strengthening the state’s entrepreneurial ecosystem.

He noted that beyond providing financial support, the access to market initiative creates a sustainable pathway that connects production to visibility, visibility to sales and sales to long-term business growth.

Also speaking, Executive Director of LSETF, Feyisara Alayande, represented by the Director of Programmes, Oyindamola Egbeyemi, said the Fair was designed to showcase the diversity, innovation and quality of products and services developed by Lagos-based entrepreneurs.

She, however, encouraged residents to support locally made products, noting that increased patronage would strengthen businesses, stimulate economic growth and create more employment opportunities.

In her goodwill message, Clerk of the Lagos State House of Assembly, Adenike Oshinowo, reaffirmed the legislature’s commitment to supporting policies and initiatives that promote entrepreneurship and strengthen the state’s business environment.

She said the Assembly would continue to collaborate with the executive arm to build an ecosystem where innovation is rewarded, enterprise is encouraged and promising businesses are given every opportunity to succeed.