The Lagos State Employment Trust Fund (LSETF), in partnership with Alimosho Local Government, has presented business loan cheques to qualified entrepreneurs under its Micro, Small and Medium Enterprises (MSME) financing programme, reinforcing its commitment to supporting business growth and economic development across Lagos State.
Eko Hot News reports that the loan presentation ceremony was held at the Alimosho Local Government Secretariat bringing together government officials, LSETF representatives and beneficiaries. The initiative is part of the Lagos State Government’s drive to improve access to affordable finance for entrepreneurs and strengthen the MSME sector.
Speaking at the event, the Executive Chairman of Alimosho Local Government, Hon. Akinpelu Ibrahim Johnson, commended the Lagos State Government for its continued investment in programmes that improve the socio-economic wellbeing of residents.
He praised Governor Babajide Olusola Sanwo-Olu for supporting initiatives that promote entrepreneurship, job creation and inclusive economic growth across the state.
Johnson also applauded LSETF for extending financial assistance to entrepreneurs in Alimosho, noting that access to affordable loans remains essential for the success and expansion of small businesses.
He described the intervention as a practical step toward helping entrepreneurs overcome financial challenges while contributing to local economic development.
Addressing the beneficiaries, the council chairman urged them to make responsible use of the loan facilities and treat the funds as business investments rather than personal income.
According to him, prudent utilisation of the loans will enable beneficiaries to grow their enterprises, create employment opportunities and improve their overall productivity.
He further encouraged beneficiaries to repay the loans promptly so that more entrepreneurs across Lagos State can benefit from similar opportunities.
Johnson stressed that sustainable repayment remains key to ensuring the continuity and expansion of the MSME financing programme.
In her remarks, the Director of Programmes at LSETF, Mrs. Oyindamola Egbeyemi, reaffirmed the agency’s commitment to supporting entrepreneurs beyond financial assistance.
She explained that LSETF combines funding with capacity-building programmes designed to equip business owners with practical skills needed to build resilient and sustainable enterprises.
According to Egbeyemi, every beneficiary undergoes entrepreneurship and business management training before receiving financial support.
The training covers important areas including financial literacy, bookkeeping, customer relations, marketing strategies and effective business management.
She advised entrepreneurs to maintain strict financial discipline by separating business funds from personal expenses.
Egbeyemi explained that proper financial management remains one of the most important factors in ensuring long-term business sustainability.
She encouraged beneficiaries to reinvest profits into their businesses to support steady expansion and improve operational capacity.
The LSETF official also urged participants to remain committed to sound business practices that will strengthen their competitiveness in the marketplace.
She reminded beneficiaries that the loans represent only one aspect of the Fund’s support, adding that dedication, innovation and effective management will determine long-term success.
Egbeyemi further encouraged entrepreneurs to keep their contact information updated with LSETF to enable continued engagement and participation in future intervention programmes.
She noted that the Fund regularly introduces initiatives aimed at helping businesses scale operations, improve productivity and access additional growth opportunities.
Beneficiaries expressed appreciation to the Lagos State Government and LSETF for providing financial support to small businesses.
Many described the intervention as timely, saying it would enable them to purchase equipment, increase production capacity and expand their operations.
Some beneficiaries also noted that the funding would help create additional employment opportunities within their communities while improving business performance.
The highlight of the event was the formal presentation of loan cheques to successful beneficiaries by the Executive Chairman of Alimosho Local Government alongside officials of the Lagos State Employment Trust Fund.
Officials said the loan disbursement is expected to improve access to productive capital, strengthen MSMEs and promote financial inclusion across Alimosho and other parts of Lagos State.
The programme also aims to stimulate local economic activities by supporting entrepreneurs with the resources required to expand their businesses sustainably.
LSETF reaffirmed its commitment to providing accessible financing, business development support and entrepreneurship training for Lagos residents.
The agency noted that its programmes are designed to build resilient businesses, encourage innovation and promote inclusive economic development across the state.
Established by the Lagos State Employment Trust Fund Law of 2016, LSETF continues to provide financial support and strategic capacity-building programmes for Micro, Small and Medium Enterprises.
Through its financing initiatives, training programmes and strategic partnerships, the Fund remains focused on empowering entrepreneurs, creating jobs and strengthening Lagos State’s economy for sustainable growth.
