The Lagos State Government has taken a significant step to strengthen grassroots entrepreneurship by providing grants, work tools, and productive equipment to over 100 Micro, Small and Medium Enterprises (MSMEs) across the state. This initiative is part of the government's efforts to boost productivity and promote job creation. The beneficiaries were selected from the five IBILE divisions of Lagos State, reflecting the government's commitment to ensuring that enterprise development initiatives reach business owners across different communities.
The intervention was announced by the Senior Special Assistant to the Governor on Commerce, Cooperatives, Trade and Investment, Mrs Nana-Hauwa Adeeyo, at the 2026 MSME Day Celebration, Awards and Grant Presentation Ceremony held at NECA House, Alausa, Ikeja. Adeeyo disclosed that the initiative was designed to translate the state government's enterprise development policies into practical support that would enable small businesses to expand their operations, improve productivity, and achieve long-term sustainability.
Speaking on the theme, "Empowering MSMEs Through Innovation and Sustainable Industrial Development," Adeeyo described MSMEs as critical drivers of employment, local production, household income, and economic growth. She stressed that supporting the growth of small businesses was essential to building a more productive, competitive, and resilient Lagos economy. According to her, the grants and equipment were intended to help beneficiaries increase output, improve product quality, enhance service delivery, and expand their businesses.
Adeeyo also highlighted the Lagos State Access to Finance for MSMEs through Cooperatives (LASMECO) Scheme, which is backed by a ₦10 billion financing framework, as one of the government's key initiatives for improving access to capital. She explained that the scheme leverages cooperative structures to promote savings, resource pooling, and improved access to financing and business opportunities for entrepreneurs.
The governor's aide further identified the Lagos State Export Readiness Programme as a strategic platform for preparing local enterprises to access wider markets. She said the programme focuses on improving product quality, standardisation, certification, and packaging to strengthen the competitiveness of Lagos-based businesses and enhance their participation in global value chains.
Adeeyo encouraged business owners to embrace innovation, digital technology, sound financial management, and sustainable production practices to remain competitive in an increasingly challenging business environment. She emphasised that government interventions must translate into measurable improvements in productivity, business expansion, and employment generation. The governor's aide also underscored the importance of inclusive enterprise development, particularly for women, young people, and vulnerable groups.
The event attracted government officials, industry leaders, financial institutions, development partners, business associations, and entrepreneurs, who gathered to celebrate outstanding business performance and explore strategies for sustainable MSME development. The initiative underscores the Lagos State Government's commitment to strengthening grassroots enterprises, promoting local industrial development, and positioning small businesses as major contributors to job creation and economic resilience.
Key points
- The Lagos State Government has provided grants and equipment to over 100 MSMEs to boost productivity and promote job creation.
- The initiative is part of the government's efforts to strengthen grassroots entrepreneurship and promote local industrial development.
- The government has also launched the Lagos State Access to Finance for MSMEs through Cooperatives (LASMECO) Scheme, backed by a ₦10 billion financing framework.
