DIPLOMAN TIMES

The Lagos State Government advanced several executive initiatives designed to strengthen economic growth, sustainable urban development, infrastructure management, and inclusive governance. Through the Lagos State Employment Trust Fund, qualified entrepreneurs in Alimosho received affordable business financing alongside entrepreneurship training to promote MSME expansion and job creation. The Office of Physical Planning engaged an international property investment delegation to explore collaboration opportunities while presenting the Epe Masterplan as a strategic development framework. Meanwhile, the Ministry of Waterfront Infrastructure Development conducted comprehensive inspections of ongoing waterfront projects in the Lekki corridor to verify compliance and implementation progress. The Domestic and Sexual Violence Agency also convened stakeholders to strengthen disability inclusion and community responses to technology-facilitated gender-based violence across Lagos communities.

The Lagos State Government launched a three-day Accelerator Training Workshop under the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) programme at the Bank of Industry office in Lagos. The initiative operationalizes affordable financing for eligible micro, small, and medium enterprises by providing loans of up to ₦10 million at a fixed annual interest rate of 9% without conventional collateral requirements. The financing framework combines a 10% borrower contribution, a 25% cooperative guarantee, and a 50% Sterling Bank guarantee, with funding jointly provided by the Lagos State Government and the Bank of Industry. Seventeen accredited Accelerator Organisations were trained to identify, mentor, and onboard qualified cooperative-backed enterprises.