Ecobank, Lagos State Employment Trust Fund Partner to Empower MSMEs

Ecobank Nigeria and the Lagos State Employment Trust Fund (LSETF) have partnered to empower over 10,000 MSMEs across Lagos through business training, digital tools, market access, and capacity-building programmes aimed at boosting entrepreneurship and job creation.

Ecobank Nigeria has entered a strategic partnership with the Lagos State Employment Trust Fund (LSETF) to empower thousands of Micro, Small, and Medium Enterprises (MSMEs) across Lagos State through capacity-building, market access, and enterprise development programmes.

In a statement on Thursday, Ecobank said the initiative is part of its commitment to promoting entrepreneurship, strengthening small businesses, and boosting job creation to tackle unemployment and drive inclusive economic growth in Nigeria’s commercial capital.

The partnership will offer MSMEs in Lagos access to vital resources including business advisory services, digital tools, networking opportunities, and cross-border market linkages through the Ecobank Single Market Trade Hub, a digital platform that connects African businesses to regional and international trade opportunities.

Ecobank also plans to organize targeted training sessions, SME networking events, and knowledge-sharing programmes to help Lagos entrepreneurs improve governance, enhance financial management, and scale sustainably. The bank believes that equipping MSMEs with practical tools and exposure will help them operate more efficiently and become key contributors to the state’s economy.

Speaking about the collaboration, Omoboye Odu, Head of SME Banking at Ecobank Nigeria, said the partnership reflects both organizations’ shared vision of supporting entrepreneurship as a tool for national development. She emphasized that MSMEs form the backbone of Nigeria’s economy but often struggle with limited access to finance, mentorship, and markets.

“We are delighted to partner with the Lagos State Employment Trust Fund on this impactful journey,” Odu said. “Micro and small businesses are the engine of our economy, but many require structure, skills, and market access to truly thrive. Our focus is to equip entrepreneurs with the right knowledge, networks, platforms, and digital solutions that help them grow sustainably. Through the Ecobank Single Market Trade Hub, SME networking events, and capacity-building programmes, we will connect Lagos businesses to broader opportunities both locally and across Africa.”

Also commenting, Oyeronke Ibidapo-Obe, Head of Agency Banking and Third-Party Partnerships at Ecobank Nigeria, said the partnership represents a solid framework for long-term enterprise development. She added that combining mentoring, capacity building, and digital enablement would help create scalable businesses that can compete within and beyond Nigeria.

“This collaboration is a game-changer for Lagos entrepreneurs. We are laying the foundation for businesses that can expand, create jobs, and contribute meaningfully to the state’s economic prosperity. Our goal is to build strong, competitive enterprises that can drive inclusive growth,” Ibidapo-Obe stated.

From the government’s perspective, Mrs. Feyisayo Alayande, Executive Secretary and Chief Executive Officer of the Lagos State Employment Trust Fund, expressed optimism about the partnership’s potential to create meaningful impact. She said the initiative aligns with the Fund’s core mandate of helping Lagos residents become self-reliant and economically empowered.

“This partnership marks another important step in our mission to enable small businesses in Lagos to reach their full potential. We are excited about what this collaboration means for our beneficiaries and the entire state as we build stronger businesses, create jobs, and continue to promote an inclusive economy that works for everyone,” Alayande said.

The Lagos State Employment Trust Fund, established by the Lagos State Government, plays a critical role in driving entrepreneurship and innovation across the state. It supports startups and small businesses with access to finance, business training, and advisory services, while promoting skills acquisition and employment generation among residents.

The collaboration with Ecobank Nigeria is expected to support over 10,000 MSMEs in its first phase, targeting sectors such as technology, agriculture, retail, and creative industries. Both organizations believe that empowering MSMEs will help reduce unemployment, encourage innovation, and strengthen Lagos’ position as Nigeria’s business hub.

Industry experts have praised the initiative as an example of how private-public partnerships can boost Nigeria’s SME ecosystem. With improved access to finance, digital transformation tools, and international trade connections, many local businesses are expected to scale beyond Lagos to other parts of Africa.

The partnership also aligns with Ecobank’s pan-African mission to promote financial inclusion and support sustainable business growth through digital innovation and cross-border trade.

Through continuous engagement, mentoring, and training, both Ecobank and LSETF hope to create a more resilient business environment where Lagos entrepreneurs can thrive and contribute to national development.