The Lagos State Employment Trust Fund (LSETF) has announced that it has disbursed over ₦15 billion in loans to more than 20,000 small and medium-sized enterprises in Lagos State over the past 10 years.
According to the Executive Secretary of the fund, Feyisayo Alayande, the intervention has helped create and support over 320,000 direct and indirect jobs since the agency was established in 2016.
Speaking at a media briefing in Ikeja, Lagos, Alayande said the fund was created to tackle unemployment by providing access to finance, skills development, and business support for residents of the state.
She added that beyond job creation, the programme has also helped preserve more than 173,000 jobs that were at risk of being lost, while over 82,000 small businesses have benefited from capacity-building initiatives.
The LSETF also reported strong repayment performance, with a loan repayment rate of 94.53%, which it described as evidence that small businesses are reliable when given access to funding and support.
The agency further disclosed that over 30,000 young people have received training and employment linkages, while more than 1,200 tech startups and 3,300 tech talents have been supported through the Lagos Innovates programme.
Alayande said partnerships with organizations such as GIZ, UNDP, King’s Trust International, and Lafarge have helped expand the impact of the initiative.
Looking ahead, the fund plans to increase financing for growing businesses, expand youth training programmes, and strengthen support for technology-driven enterprises.
The agency also announced plans to host the Lagos Employment Summit 4.0 in the fourth quarter of 2026 to further discuss job creation strategies and economic development in the state.
Overall, LSETF described its 10-year performance as evidence that targeted investment in entrepreneurship and human capital development can significantly boost economic growth and job creation in Lagos.
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