Lagos Disburses N15bn to 20,000 SMEs, Supports 320,000 Jobs - MSME Africa

The Lagos State Employment Trust Fund (LSETF) has disbursed more than ₦15bn to over 20,000 micro, small and medium enterprises, contributing to the creation of more than 320,000 jobs in the state. The Commissioner for Innovation, Science and Technology, Olatunbosun Alake, disclosed this at the Lagos Innovates

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ShareThe Lagos State Employment Trust Fund (LSETF) has disbursed more than ₦15bn to over 20,000 micro, small and medium enterprises, contributing to the creation of more than 320,000 jobs in the state.

 

The Commissioner for Innovation, Science and Technology, Olatunbosun Alake, disclosed this at the Lagos Innovates LaunchPad 2.0 Idea Hub Pitch Day and Ecosystem Showcase held on Thursday as part of activities marking LSETF’s 10th anniversary.

The event also featured the graduation of 50 founders from the 14th cohort of the Lagos Innovates Idea Hub programme, which supports early-stage entrepreneurs in refining their business ideas and developing viable business models.

Alake said LSETF’s interventions, alongside programmes such as Lagos Innovates, were helping entrepreneurs establish sustainable businesses, create employment opportunities and contribute to economic growth.Advertisement

He noted that the Fund had recorded a loan repayment rate exceeding 94 per cent, highlighting the importance of structured financial support for small businesses.

“Small businesses are critical to economic growth and job creation. When entrepreneurs have access to finance, the right infrastructure and the knowledge to manage their businesses, they are better positioned to grow, employ more people and contribute to the economy,” he said.

The commissioner also disclosed that the state was developing an innovation bill that would allocate 20 per cent of innovation grants to women- and youth-led enterprises.

According to him, the initiative forms part of efforts to strengthen the startup ecosystem and double the contribution of technology and innovation to Lagos’ economy by 2030.

He added that Lagos-based startups attracted more than $6bn in investments between 2019 and 2024, accounting for approximately 70 per cent of technology investments in Nigeria during the period.Advertisement

Alake said Lagos Innovates had supported more than 1,200 startups and developed over 3,300 technology talents, while the Lagos State Science, Research and Innovation Council had awarded nearly ₦1bn to 155 researchers and startups.

He urged entrepreneurs to focus on solving real-life problems and understanding customer needs, noting that sustainable businesses must provide solutions for which customers are willing to pay.

Earlier, the Executive Secretary of LSETF, Feyishayo Alayande, said the Fund had empowered approximately 100,000 businesses through interventions such as masterclasses, advisory services and business registration support.

Alayande stressed that access to finance alone was insufficient to guarantee business growth, noting that mentorship, capacity building, market access and sound business structures were equally important.

“Finance is important, but it is not enough on its own. Entrepreneurs need the knowledge to manage their businesses, access to markets and the right guidance to build enterprises that can survive, grow and create jobs,” she said.Advertisement

She reaffirmed the Fund’s commitment to providing entrepreneurs with the skills, resources and support needed to build sustainable businesses.

Also speaking, the Chairperson of the Lagos State House of Assembly Committee on Wealth Creation and Employment, Foluke Stella, called for stronger entrepreneurship policies and expanded business support services to help young people turn innovative ideas into viable enterprises.

She said improved access to mentorship, relevant skills and funding would enable more entrepreneurs to contribute to the state’s economic development.

 

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Related Topics:EntrepreneurshipJob CreationLagos InnovatesLagos State Employment Trust FundLSETFMSMEssmall business fundingStartup Fundingwomen-led businessesYouth Entrepreneurship

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SMEDAN Opens Applications for Trainers in Business Management, AI and Digital Innovation

Published 5 hours ago on October 30, 2026

By Olusola Blessing

ShareThe Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), with support from the Korea International Cooperation Agency (KOICA), has invited applications from experienced professionals to serve as trainers and facilitators at the Abuja Centre for Entrepreneurship (ACE).

 

The opportunity is available under the Start-up Digital Innovation Academy, specifically Stream 2 – Training of Trainers, and targets professionals with expertise in Business Management (BM), Artificial Intelligence (AI) and Digital Innovation.

Selected applicants will contribute to professional development courses aimed at strengthening entrepreneurial capacity, supporting youth empowerment and promoting digital transformation in Nigeria.

The initiative is designed to leverage the knowledge and practical experience of industry professionals to support entrepreneurs and individuals seeking to develop relevant business and digital skills.Advertisement

The training will take place at SMEDAN’s Garki Office in Area 11, Abuja, and applicants must reside in Abuja to be eligible.

 

The Start-up Digital Innovation Academy is focused on strengthening entrepreneurship development and supporting the growth of Nigeria’s start-up ecosystem through professional training and digital innovation.

The programme provides an opportunity for experienced professionals to share their knowledge and contribute to capacity-building activities that can help entrepreneurs improve their business management practices and adopt digital solutions.

Through the engagement of qualified trainers and facilitators, the initiative seeks to support the development of practical skills relevant to business growth, innovation and the changing demands of the digital economy.Advertisement

Professionals selected for the programme will be expected to contribute their industry knowledge and experience to learning activities that support entrepreneurship development and professional growth.

Areas of Expertise

SMEDAN is inviting applications from professionals with experience in Business Management, Artificial Intelligence and Digital Innovation.

1. Business Management

Professionals with expertise in Business Management are encouraged to apply to support entrepreneurship training and professional development activities.Advertisement

Applicants in this category should have practical experience in business-related fields and the ability to communicate relevant knowledge to entrepreneurs and other programme participants.

Their expertise will contribute to learning activities focused on strengthening business management capabilities and supporting the development of entrepreneurial skills.

2. Artificial Intelligence and Digital Innovation

The opportunity is also open to professionals with experience in Artificial Intelligence and Digital Innovation.

Applicants in this category should have relevant industry knowledge and the ability to support learning activities related to digital technologies, innovation and the development of technology-driven business solutions.Advertisement

Their participation will contribute to efforts to strengthen digital capabilities and encourage the adoption of innovative approaches to business development.

Eligibility Requirements

To qualify for the opportunity, applicants must meet the following requirements:

Have at least five years of practical experience in their respective fields.

Be residents of Abuja, Nigeria.

Demonstrate a proven track record in training, facilitation or mentoring.

Possess strong communication and presentation skills.

Show a commitment to entrepreneurship development, youth empowerment and digital transformation.

Applicants should ensure that their professional backgrounds and practical experience align with the area of expertise they intend to support.

The opportunity is particularly suited to professionals who can translate their industry knowledge into practical learning experiences and support the development of entrepreneurs and aspiring business owners.

Benefits of the OpportunityAdvertisement

The engagement offers experienced professionals an opportunity to contribute to entrepreneurship development and digital capacity-building initiatives in Nigeria.

By serving as trainers and facilitators, selected applicants will be able to share their expertise with individuals seeking to strengthen their business management capabilities and develop relevant digital skills.

The opportunity also provides a platform for professionals to participate in activities supporting youth empowerment, innovation and the growth of Nigeria’s start-up ecosystem.

Through their contributions, trainers and facilitators will support efforts to build the skills and knowledge required to navigate the challenges of entrepreneurship and take advantage of emerging opportunities in the digital economy.

How to ApplyAdvertisement

Interested and qualified professionals should complete the online application form using the link below.

Application Link: Click here to apply

Applicants should provide accurate information about their professional experience, area of expertise and relevant training, facilitation or mentoring experience.

Application Deadline: November 4, 2026.

Training Venue: SMEDAN Garki Office, Area 11, Abuja, Nigeria.Advertisement

Professionals with at least five years of relevant experience who meet the eligibility requirements are encouraged to submit their applications before the deadline.

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PAMA Calls for Greater Business Participation in Economic Deals to Expand Trade and Investment Opportunities

Published 8 hours ago on October 30, 2026

By Esther Olaoluwa

ShareThe Pan-African Manufacturers Association (PAMA) has called on African governments and regional institutions to give businesses a greater role in negotiating, implementing and reviewing economic agreements, saying their involvement is essential to turning trade commitments into practical opportunities for manufacturers and other businesses across the continent.

The association said businesses are directly affected by the provisions of economic agreements and understand the commercial conditions required to take advantage of market access, attract investment, source inputs and build cross-border operations.

Africa maintains several bilateral and multilateral economic relationships, including its partnerships with the European Union, China and India, as well as the African Continental Free Trade Area (AfCFTA) and other regional trade arrangements. However, PAMA noted that business membership organisations are often consulted only after negotiating positions have been established.

According to the association, this limits the ability of businesses to influence agreements that will eventually shape their operations, costs and access to markets.

PAMA said structured consultation with the private sector should begin before agreements are concluded and continue throughout their implementation. It also called for monitoring mechanisms that allow businesses to report challenges and identify barriers affecting the use of these agreements.Advertisement

The association noted that manufacturers and other private-sector operators can provide practical evidence on issues such as tariffs, non-tariff barriers, product standards, rules of origin, logistics, financing and market access.

These are important considerations for businesses seeking to expand beyond their domestic markets, source materials from other African countries, establish cross-border partnerships and compete in regional and international markets.

PAMA also called on development institutions and international partners to support evidence-based consultations and sector studies that reflect the realities of businesses operating across the continent.

It stressed that greater private-sector participation would not transfer the responsibility for negotiating economic agreements from governments to businesses. Rather, it would help ensure that the agreements reflect actual industry needs and create conditions that businesses can work with.

The association reaffirmed its commitment to working with governments and development institutions to strengthen the connection between policy decisions and industry needs, while ensuring that African manufacturers have a meaningful role in shaping the continent’s economic partnerships.Advertisement

For African businesses, stronger participation in these agreements could help address practical trade barriers, improve access to regional markets and make it easier to identify and pursue investment and expansion opportunities.

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Nigerian Government Trains 150 Enugu Youths in AI, Solar Installation and Fashion Design, Provides Business Starter Packs

Published 8 hours ago on October 30, 2026

By Esther Olaoluwa

ShareThe Nigerian Government has commenced a two-week intensive skills training programme for 150 youths in Enugu State, covering Artificial Intelligence (AI), solar installation and fashion design, as part of efforts to reduce unemployment and promote entrepreneurship.

The programme is being implemented under the National Poverty Reduction with Growth Strategy (NPRGS), with beneficiaries expected to receive business starter packs to help them establish enterprises, generate income and build sustainable livelihoods.

The initiative is coordinated by the Office of the Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education (TVEE), in collaboration with the Federal Ministry of Budget and Economic Planning.

Speaking at the commencement of the training, the Senior Special Assistant to the President on TVEE, Dr Abiola Arogundade, said the programme reflected the government’s commitment to equipping young Nigerians with practical skills and creating opportunities for financial independence.

She described the South-East as an important part of the initiative, noting that the selection of Enugu demonstrated the government’s commitment to extending its empowerment programmes across the country.Advertisement

Arogundade said the programme had already been implemented in some geopolitical zones, including the South-West and North-Central, and would be extended to other parts of Nigeria.

She added that the Federal Ministry of Budget and Economic Planning had established a monitoring and evaluation mechanism to track beneficiaries’ progress. Participants will be assessed after six months and one year to determine how effectively they are applying the skills and equipment provided.

The Governor of Enugu State, Peter Mbah, represented by the Commissioner for Budget and Planning, Chris-Roberts Ozongwu, commended the Federal Government for the intervention, describing it as a boost to youth empowerment and poverty reduction.

He said the programme complemented the state government’s efforts to promote skills acquisition, entrepreneurship and economic development.

Also speaking, the Director of the Macroeconomic Analysis Department at the Federal Ministry of Budget and Economic Planning, Felix Okonkwo, said the initiative aligned with the government’s Renewed Hope Agenda.Advertisement

He explained that participants would receive training in AI, solar installation and fashion design, alongside equipment to support the establishment of their businesses after completing the programme.

Okonkwo said the government was shifting its approach from temporary financial assistance towards sustainable economic empowerment through vocational training and support for small businesses.

He added that the 150 beneficiaries were selected through an open application process advertised on social media and radio stations.

The two-week training in Enugu forms part of the Federal Government’s broader target of lifting five million Nigerians out of poverty through marketable skills, entrepreneurship and support for sustainable small businesses.

By combining vocational training with business starter packs, the programme aims to help beneficiaries turn acquired skills into income-generating ventures, create employment opportunities and contribute to economic activities within their communities.Advertisement

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Requirements

To qualify for the opportunity, applicants must meet the following requirements:

Have at least five years of practical experience in their respective fields.

of the OpportunityAdvertisement

The engagement offers experienced professionals an opportunity to contribute to entrepreneurship development and digital capacity-building initiatives in Nigeria.

By serving as trainers and facilitators, selected applicants will be able to share their expertise with individuals seeking to strengthen their business management capabilities and develop relevant digital skills.

The opportunity also provides a platform for professionals to participate in activities supporting youth empowerment, innovation and the growth of Nigeria’s start-up ecosystem.

Through their contributions, trainers and facilitators will support efforts to build the skills and knowledge required to navigate the challenges of entrepreneurship and take advantage of emerging opportunities in the digital economy.

To qualify for the opportunity, applicants must meet the following requirements:

Have at least five years of practical experience in their respective fields.