The Lagos State Government, in collaboration with the Bank of Industry, has launched a ₦10 billion matched funding scheme to support Micro, Small and Medium Enterprises (MSMEs).
The initiative, known as Lagos State MSME Access to Finance Scheme, LASMECO, was formally unveiled in Ikeja, with Governor Babajide Sanwo-Olu leading the state delegation. The programme is designed to provide easier access to capital for entrepreneurs seeking to scale their businesses and stimulate local economic activity.
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Describing the scheme as a lifeline for skilled business owners lacking financial backing, Governor Sanwo-Olu said the fund represents a practical step toward economic inclusion and growth.
Also speaking at the event, the Commissioner for Commerce, Trade and Investment, Folashade Ambrose, hailed the launch as a pivotal milestone in Lagos’ ambition to create a 21st-century economy anchored on resilience, innovation, and homegrown enterprise.
Applications are expected to open shortly.
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