The Lagos State Employment Trust Fund (LSETF) has recorded significant impact in supporting micro, small and medium enterprises (MSMEs) and youth empowerment initiatives across Lagos State.
Eko Hot News reports that between May 2025 and April 2026, the Fund disbursed ₦1.91 billion in affordable loans to 4,036 MSMEs to support business growth, resilience, and job creation.
An additional ₦23.628 million in grants was provided to 65 MSMEs to help cover operating costs and strengthen business sustainability.
LSETF also partnered with development organizations including Deutsche Gesellschaft für Internationale Zusammenarbeit, Kings Trust International, USADF, and Diageo to deliver vocational and technical training.
A total of 3,456 individuals were trained across sectors such as construction, creative industries, healthcare, hospitality, tourism, and the green economy.
Out of those trained, 2,127 beneficiaries were successfully placed into jobs, improving employability among young Lagos residents.
The Fund, in collaboration with the Ministry of Wealth Creation and Employment, also signed an MoU with the United Nations Development Programme to train 2,000 Lagosians in 2026.
LSETF partnered with Lafarge, the Ministry of Youth and Social Development, LASODA, and LASCOTA to support entrepreneurship training for women and persons with disabilities.
The programme trained 50 women in construction-related enterprises and 100 persons with disabilities in vocational skills such as hairdressing, makeup, fashion production, and device repair services.
Officials said the initiative is designed to promote inclusion, enterprise development, and economic participation across all groups.
The Fund also co-launched an ultra-modern creative hub in partnership with 360 Creative Hub, Ecobank, and Union Bank.
The facility provides workspace and infrastructure support for fashion and creative entrepreneurs, beginning with 19 hub users.
LSETF supported 8,454 MSMEs through enterprise development and capacity-building programmes aimed at improving business performance.
In addition, 848 entrepreneurs gained access to market opportunities to increase sales and expand operations.
Within the technology ecosystem, the Fund incubated 50 early-stage startups through its idea hub programme.
It also launched the third cohort of the Female Founders and Funders programme, supporting 30 women-led startups.
Furthermore, 143 early-stage startups received workspace support through the Lagos Innovates Workspace Voucher programme.
About 1,000 young tech talents were trained in software development, cybersecurity, full-stack development, and artificial intelligence for engineering applications.
LSETF also collaborated with the Nigeria Governors’ Forum to propose a peer-to-peer state programme aimed at improving service delivery, capacity building, and innovation across sectors.
Officials say the initiatives continue to strengthen entrepreneurship, reduce unemployment, and support inclusive economic growth in Lagos State.
The Fund reaffirmed its commitment to expanding opportunities for MSMEs, startups, women, and young professionals across the state’s economic ecosystem.
