The Lagos State Employment Trust Fund (LSETF) has created more than 320,000 direct and indirect jobs and disbursed over N15 billion in loans to more than 20,000 micro, small and medium enterprises (MSMEs) since its establishment in 2016.
Feyisayo Alayande, Executive Secretary of LSETF, disclosed this during a media briefing in Lagos to commemorate the agency’s 10th anniversary.
Alayande said the agency was established by the Lagos State Government to address unemployment and promote wealth creation through access to finance, skills development, capacity building, market opportunities, and support for the technology ecosystem.
According to her, the agency’s impact over the last decade extends beyond statistics, touching thousands of lives across Lagos State.
She cited several success stories, including a woman living with a disability who acquired phone repair skills through a partnership between LSETF and Lafarge Africa Plc, enabling her to build a sustainable source of income. She also noted that many beneficiaries of LSETF training programmes have secured jobs with organisations such as LG Electronics and Lagos Continental Hotel.
Alayande further highlighted the achievements of a female entrepreneur supported under the Lagos Innovates programme, who later showcased her innovation at the globally recognised GITEX technology exhibition.
“These are not exceptional stories; they are representative ones. They show what happens when barriers between ambition and opportunity are removed,” she said.
Providing a breakdown of the agency’s achievements, Alayande revealed that LSETF has helped preserve more than 173,000 jobs, supported over 82,000 small businesses through capacity-building initiatives, and trained more than 30,000 young people, many of whom have been linked to employment opportunities.
She added that the agency has also supported more than 1,200 technology startups and developed over 3,300 tech talents.
One of the agency’s most notable achievements, she said, is its loan repayment rate of 94.53 per cent, which she described as evidence of the resilience and credibility of Lagos entrepreneurs.
“Our repayment rate is not just a financial metric. It is proof that when people are treated with dignity and given real opportunities, they honour their commitments,” she stated.
Reflecting on the lessons learned over the past decade, Alayande stressed that access remains the most critical factor in unlocking economic opportunities.
“The difference between those who succeed and those who struggle is rarely talent. It is often access to capital, knowledge, markets and networks,” she said.
She also acknowledged the contributions of development partners and private-sector organisations that have collaborated with LSETF over the years, including GIZ, the United Nations Development Programme (UNDP), King’s Trust International, Lafarge, Diageo, and several Lagos State ministries and agencies.
Calling for greater public awareness of the Fund’s programmes, Alayande urged journalists to help bridge the information gap that prevents many entrepreneurs, job seekers and startup founders from accessing available opportunities.
Looking ahead, she announced that LSETF will host the Lagos Employment Summit 4.0 in the fourth quarter of 2026. The summit will bring together government officials, private-sector leaders, development partners and civil society organisations to develop a roadmap for job creation and enterprise development over the next decade.
Reaffirming the agency’s commitment to expanding access to finance, skills development and innovation support, Alayande expressed confidence that the next phase of LSETF’s journey would deliver even greater impact.
“We have been here for 10 years, and we are not going anywhere. The next chapter is going to be the most significant one yet,” she said.
