Lagos State provides grants and equipment to over 100 small businesses

The Lagos State Government has distributed grants, work tools, and productive equipment to more than 100 Micro, Small, and Medium Enterprises (MSMEs) across the state. The initiative, announced during the 2026 MSME Day Celebration, aims to strengthen grassroots entrepreneurship, boost productivity, and promote job creation.

Beneficiaries were selected from the five IBILE divisions of Lagos to ensure enterprise development reaches various communities. Officials stated the intervention is designed to help small businesses expand operations, improve product quality, and achieve long-term sustainability by addressing constraints such as inadequate access to finance, inflation, and high energy costs.

As part of broader support, the government highlighted the Lagos State Access to Finance for MSMEs through Cooperatives (LASMECO) scheme. This initiative is backed by a ₦10 billion financing framework and utilizes the state’s more than 16,000 registered cooperative societies to provide affordable financing to entrepreneurs who may struggle to secure conventional bank loans.