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Lagos State To Promote SMEs With Over N25B Funding

The Lagos State Government has announced plans to fund small and medium scale enterprise with over N25 billion from the State Employment Trust Fund.

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The Secretary of the Lagos State Employment Trust Fund (LSETF), Mr. Akintunde Oyebode, briefed journalists at the Bagauda Kaltho Press Centre saying the fund, was in line with Governor Akinwunmi Ambode’s vision to create employment and entrepreneurship opportunities for all Lagosians.

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He also said that the board has perfected strategies while addressing key areas before commencing the disbursement of the fund later in the year.

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Oyebode said the fund would provide loans to MSMEs at a single digit interest rates per annum, while training and capacity building and technical support would be provided to drive growth and job creation.

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