The Lagos State Government says it disbursed about N1.9 billion in loans and grants to Micro, Small, and Medium Enterprises in 2025 as part of efforts to stimulate economic growth and reduce unemployment.

The Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, disclosed this on Thursday during the 2026 Ministerial Press Briefing held in Ikeja.

According to Ajigbotafe, the intervention was implemented through the Lagos State Employment Trust Fund.

“Affordable loans worth N1.91 billion were disbursed to 4,036 MSMEs, while grants exceeding N23 million were provided to 65 businesses to support expansion, operations, and resilience,” he said.

The commissioner explained that the initiative aligns with the T.H.E.M.E.S Plus Development Agenda of Governor Babajide Sanwo-Olu’s administration.

“These interventions are designed to stimulate economic activities, create jobs, and improve livelihoods across the state,” he added.

Ajigbotafe further disclosed that the ministry prioritised inclusivity by empowering 1,050 Persons With Disabilities through entrepreneurship training and the provision of start-up tools over the last one and a half years.

He also stated that residents in underserved communities benefited from entrepreneurship and innovation programmes designed to improve economic opportunities.

According to him, the ministry’s ICT training initiative also trained 200 unemployed youths in Full-Stack Web Development and Data Analysis while providing them with laptops.

On employment generation, Ajigbotafe said the Lagos State Graduate Internship Placement Programme has continued to bridge the gap between education and workplace requirements.

He noted that the programme has impacted more than 6,500 graduates across the five divisions of Lagos State since inception.

“About 2,500 graduates were successfully placed during the 2024 cycle, which concluded in 2025,” he said.

The commissioner explained that participants undergo a three-week employability training programme before being deployed for a three-month paid internship.

He added that each intern receives a monthly stipend of N60,000 to support transportation and logistics during the internship period.