…reaffirms commitment to enabling environment

By Olasunkanmi Akoni

Lagos State Government has disbursed over ₦15 billion to 10,000 Micro, Small and Medium Enterprises, MSMEs, in strengthening the state’s entrepreneurial ecosystem.

The State government reaffirmed its administration’s commitment to creating a business-friendly environment that enables MSMEs to thrive, describing the sector as a critical driver of economic growth, job creation and wealth generation.

Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, gave the assurance on Thursday at the unveiling of a three-day Access to Market Fair, tagged “Lagos on Display,” organised by the Lagos State Employment Trust Fund, LSETF, under the Ministry of Wealth Creation and Employment, held at the JJT Park, Alausa, Ikeja.

The fair brought together about 300 entrepreneurs and featured business support services, including on-the-spot loan applications, enrolment into the Lagos State Health Insurance Scheme (Ilera Eko), product exhibitions and discounted sales aimed at expanding market access for local businesses.

Ajigbotafe said the initiative reflects Governor Babajide Sanwo-Olu’s unwavering commitment to building an enabling environment where entrepreneurs can unlock their full potential and grow sustainable businesses.

Represented by the Director of Employment in the ministry, Mr. Shitta Demilola, the commissioner said the state government remains focused on implementing policies and programmes that promote enterprise development, skills acquisition, employment generation and sustainable wealth creation.

According to him, “the LSETF has so far disbursed more than ₦15 billion to over 10,000 businesses, demonstrating the government’s sustained investment in strengthening the state’s entrepreneurial ecosystem.

“Our mandate is to create an enabling environment where individuals and businesses can thrive while expanding the economic opportunities that drive the continued growth and prosperity of Lagos State.

“The LSETF is a key agency established to advance this mandate. Today, we are pleased to introduce another important milestone in that journey,

“Access to Market, an initiative that reflects our shared commitment to strengthening Lagos State’s entrepreneurial ecosystem and creating sustainable pathways for business growth.”

The Executive Director, LSETF, Mrs. Feyisara Alayande, represented by the Director of Programmes, Ms. Oyindamola Egbeyemi, said the fair was designed to showcase the diversity, innovation and quality of products and services developed by Lagos-based entrepreneurs.

She encouraged residents to support locally made products, noting that increased patronage would strengthen businesses, stimulate economic growth and create more employment opportunities.

“We appreciate Governor Babajide Sanwo-Olu for creating the opportunity for LSETF and the ministry to continue supporting micro, small and medium enterprises, which remain the drivers of the state’s economy.

“This is a market stimulation initiative because we recognise that it is not enough to provide loans. Businesses also need access to markets. Lagos is the best market in the world, and we want entrepreneurs to start in Lagos and grow beyond the state,” she said.

The Clerk of the Lagos State House of Assembly, Mrs. Adenike Oshinowo, reaffirmed the legislature’s commitment to supporting policies and initiatives that promote entrepreneurship and strengthen the state’s business environment.

She said the Assembly would continue to collaborate with the executive arm to build an ecosystem where innovation is rewarded, enterprise is encouraged and promising businesses are given every opportunity to succeed.