Lagos State Governor Babajide Sanwo-Olu has reaffirmed his administration’s commitment to creating a stronger, more supportive environment for Micro, Small and Medium Enterprises (MSMEs) across the state. The governor made this pledge while addressing entrepreneurs and business stakeholders at a recent engagement focused on strengthening MSME development and economic inclusion.
Sanwo-Olu emphasized that MSMEs remain the backbone of Lagos’ economy, contributing significantly to job creation, innovation and local productivity. He noted that in a fast-growing commercial hub like Lagos, supporting small businesses is essential for achieving sustainable economic growth and broad-based prosperity.
According to the governor, the state government is intensifying efforts to remove barriers that hinder small business growth, including bureaucratic delays, multiple taxation and limited access to finance. He disclosed that ongoing reforms are aimed at simplifying regulatory processes, improving transparency and ensuring that entrepreneurs operate in an environment that is fair, predictable and growth-friendly.
Sanwo-Olu highlighted the state’s initiatives such as the Lagos State Employment Trust Fund (LSETF), market infrastructure upgrades, digital business platforms and capacity-building programmes designed to equip MSMEs with the tools they need to compete locally and globally. He added that his administration is also prioritizing innovation clusters, creative economy support and partnerships that expand market opportunities for small businesses.
The governor reiterated that Lagos will continue to invest in infrastructure—roads, markets, energy solutions and technology-driven systems—to reduce business costs and increase efficiency for MSMEs. He encouraged entrepreneurs to take advantage of government programmes tailored to support business expansion, skill development and financial empowerment.
Sanwo-Olu assured the business community that his administration remains committed to listening and responding to their needs, emphasizing that a thriving MSME sector is critical to Lagos’ economic resilience.
“With the right support, our small businesses will continue to create jobs, drive innovation and strengthen our economy,” he said.
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