LSETF creates 320,000 jobs, disburses N15bn to SMEs in 10 years
CHIGOZIE AMADI
The Executive Secretary, Lagos State Employment Trust Fund (LSETF), Feyitayo Alayande, has said the agency has created more than 320,000 direct and indirect jobs and disbursed over N15 bn to more than 20,000 Micro, Small and Medium Enterprises (MSMEs) since its establishment in 2016.
Speaking during a press briefing on Monday at Alausa, Ikeja, Alayande said the agency’s interventions over the past decade had helped tackle unemployment and improve economic opportunities for Lagos residents through access to finance, skills development, market access and support for technology-driven enterprises.
According to her, the Agency has also supported over 82,000 small businesses through capacity-building initiatives, trained more than 30,000 young people and connected them to employment opportunities, while also supporting over 1,200 technology startups through its Lagos Innovates programme.
Alayande said the agency’s loan repayment rate currently stands at 94.53 per cent, describing it as evidence that entrepreneurs should be seen as opportunities rather than risks.
“Entrepreneurs are not a risk; they are an opportunity, and they have proven it consistently. Our repayment rate is proof that when people are treated with dignity and given real opportunities, they honour their commitments,” she said.
Highlighting the human impact of the Fund’s interventions, the Executive Secretary recounted the story of a woman living with disability who acquired phone repair skills through an LSETF partnership programme and went on to build a sustainable livelihood.
She also cited beneficiaries who secured employment in major organizations after receiving training and support, as well as startup founders who leveraged LSETF programmes to gain international recognition and access to global opportunities.
Alayande said the agency’s experience over the last 10 years had reinforced the importance of access to capital, knowledge, markets and networks in unlocking economic potential.
“The difference between a person who builds something and one who cannot is rarely talent. It is almost always access. LSETF exists to close that gap,” she said.
She attributed the Fund’s achievements to institutional design, strategic partnerships and the commitment of its workforce, noting that collaborations with development partners and international organizations had significantly expanded its reach and impact.
The Executive Secretary also called for stronger collaboration with the media to increase public awareness of LSETF programmes, noting that many eligible entrepreneurs, job seekers and startup founders across Lagos remained unaware of available opportunities.
“There are entrepreneurs who qualify for our loans but do not know about them. There are young people who do not know we offer free skills training, and startups that are unaware of Lagos Innovates. That is why media visibility matters,” she said.
She stressed that the agency was not seeking favourable coverage but accurate reporting that would help connect more residents to available opportunities.
Looking ahead, Alayande said LSETF would intensify efforts to provide more funding, training and support for businesses and young people, while expanding partnerships to drive economic growth across the state.
She announced plans to convene the Lagos Employment Summit 4.0 in the fourth quarter of 2026, describing it as a platform that would bring together government, the private sector, development partners and civil society to chart the future of employment and enterprise development in Lagos over the next decade.
“We have been here for 10 years, and we are not going anywhere. The next chapter is going to be our most significant yet,” she said.
