WorldStage– The Lagos State Employment Trust Fund (LSETF) has disbursed N15 billion to about 20,000 Micro, Small and Medium Enterprises (MSMEs) in the state.
The Executive Secretary of LSETF, Mrs Feyisayo Alayande, disclosed this on Monday at Alausa, Ikeja, during which she gave account of the agency’s stewardship in the past decade.
Alayande said that LSEFT also facilitated creation of more than 320,000 direct and indirect jobs.
She said that the achievements reflected Lagos State Government’s commitment to reducing poverty and expanding economic opportunities for residents through access to finance and enterprise support.
According to her, the impact of the interventions is evident in the growing number of entrepreneurs and businesses that have benefitted from LSEFT’s programmes.
“In the last 10 years, we have disbursed N15 billion across 20,000 MSMEs and facilitated creation of over 320,000 direct and indirect jobs.
“These are not just figures. They represent livelihoods sustained, businesses expanded and families empowered across Lagos State,” she said.
The executive secretary said that LSEFT had recorded a repayment rate of 94 per cent, describing it as a testament to the integrity and resilience of Lagos entrepreneurs.
“We have maintained a repayment rate of 94 per cent, with only about N100 million outstanding.
“We appeal to beneficiaries with outstanding obligations to fulfil their commitments so that others can benefit from the revolving loan scheme,” she said.
Alayande called for stronger partnerships with stakeholders to deepen the LSEFT’s impact and ensure that more residents would have access to opportunities.
“We are optimistic that the next decade will surpass the successes of the last 10 years.
“We look forward to stronger collaborations that will enable us to touch more lives and support more businesses,” she said.
She added that the agency remained committed to building an inclusive economy where innovation, entrepreneurship and decent work would thrive.
The News Agency of Nigeria (NAN) reports Alayande also said that within the period under review, LSETF preserved about 173,000 jobs and trained more than 30,000 youths
It also supported more than 1,200 tech startups and developed more than 3,000 talents through its Lagos Innovates initiative.
