Lagos State Governor, Babajide Sanwoolu

Here is how SMEs can Apply for the N5bn post-COVID Recovery Fund Launched by Lagos State

The Lagos State government has launched a N5 billion economic recovery fund for MSMEs tagged “Lagos Economic Acceleration Programme (LEAP).” 

The fund was set up under the Lagos State Employment Trust Fund (LSETF) “in a bid to help businesses in Lagos recover as well as save and create more jobs in the wake of the COVID-19 pandemic”.

The state government announced the intervention programme on Wednesday, Nov. 18, via its official Twitter handle.

According to the Executive Secretary/CEO of the Employment Trust Fund, Mrs. Tejumade Abisoye, the funds is targeted to help sectors of the economy that have been most affected by the pandemic – the sectors identified are Education, Technology, Transport and Logistics, Healthcare, Renewable Energy, Agriculture, Hospitality, Tourism, Creative and Entertainment. 

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Abisoye said the programme will enable players in these sectors to have access to affordable finance at a single-digit interest rate, enhance capacity building, foster market linkages and to help them leverage business expansion opportunities.

Interested Micro, Small, and Medium Enterprises can apply for the funds here.


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