Home Features LSETF: Sanwo-Olu, Access Bank Boost SME’S With N10bn

LSETF: Sanwo-Olu, Access Bank Boost SME’S With N10bn


inaugurates Jakande Garden,

Governor Babajide Sanwo-Olu of Lagos State and Access Bank, have dedicated N10 billion to encourage residents with ingenious businesses and development of existing Small and Medium Enterprises (SMEs) in the state.

This was even as Sanwo-Olu commissioned 492 Housing Units named after the first Civilian Governor, Alhaji Lateef Jakande, disclosing that 1,300 housing units would be delivered in few weeks.

The announcement was made on Wednesday at the Lagos State Employment Trust Fund, LSETF funding initiative for Women entrepreneurs and commissioning of the Lateef Jakande Garden in Igando, Alimosho Local Government.

Sanwo-Olu, while addressing beneficiaries of the Funds and Housing Scheme stressed that the aim of the fund was to bring many out of the poverty net in the state.

“We have increased the fund from N4 billion to N10 billion and how this works is there are 57 locations where you can access this funds and there are forms you can fill online and the interest is the cheapest so far.


“You can also get the loan of up to N5 million and the payback process is going to be split according to the convenience of each person. As the saying goes, if you empower the women, you are empowering the nation”, he added.


The governor hinted that no fewer than 794 beneficiaries with ingenious ideas have been screened and would receive their loan immediately, saying, these people are out of the poverty net.

According to him, this is continuation of over 11,000 persons that have benefited from the existing LSETF which was commenced by the immediate administration.


Sanwo-Olu stressed that his administration would adopt the global best practice in the delivery of the houses across the state, assuring that more allottees would receive more houses

“We shall embrace rigorous planning and financial discipline in ensuring that the ongoing housing projects located in various parts are delivered on schedule. Our expectation is that within the next six months, over 1,248 homes shall be delivered in different parts of the state.”

 Earlier, Commissioner for Housing, Mr. Fatai Akinderu, said that state government would work hard through proper planning and judicious execution to bring to a conclusion the ongoing housing schemes at Igbogbo, Sangotedo, Iponri, Gbagada, and Omole, adding that the development would add a total of 1250 homes to the existing figures in the nearest future.

“We are just starting a journey which I know will positively and greatly impact on the future story of our great state. With this new urban settlement catering to the home needs of 492 families in this populous part of Lagos state, the housing deficit in the state has been reduced. 

“With this stride in providing livable accommodation in a planned setting with modern infrastructure comparable to those in smart cities of the world, we are promoting urban harmony and setting new standards for property development not only in this axis but in the entire”. 


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