Lagos State Employment Trust Fund

What Lagos State Employment Trust Fund does

Lagos State Employment Trust Fund (LSETF) is a government trust fund established by the Lagos State Employment Trust Fund Law 2016 and wholly owned by the Lagos State Government of Nigeria. Its mandate is to provide financial and operational support to Lagos State residents for job creation, wealth generation, and unemployment reduction. LSETF reports cumulative disbursements exceeding N15 billion to more than 20,000 small and medium-scale businesses, with a stated 94.53% loan repayment rate and over 320,000 direct and indirect jobs created since inception.

The fund's product portfolio spans the MSME lifecycle. Core products include the MSME Loan Programme (micro and SME loans up to N1M), the Lagos Innovates ecosystem initiative (covering workspace subsidies via the Workspace Voucher Programme and the Female Founders & Funders accelerator), the Employability training unit (vocational, online, and workshop-based training reaching 21,000+ youths since 2018), Job Hubs for placement services, the Eko Hub co-working model, and Lagos Cares — a COVID-19 emergency response anchored under the World Bank's NG-CARES program delivering Credit Grants, Operations Grants, and IT Enhancement Grants to MSMEs.

LSETF is not a commercially revenue-generating entity; it operates as a state-backed fund whose distribution model combines a direct online application portal, Lagos State Local Government Area offices, Job Hubs, and Eko Hub locations. Beneficiaries include MSMEs (nano, micro, and SME tiers), unemployed youth, women-led startups, early-stage founders, and COVID-19-affected businesses. Strategic partnerships with UNDP, USADF, GIZ, Korea Training Institute, AfriGloCal VC, Odua Investment Company, Washington University in St. Louis, and Brooks Insights extend its programmatic and funding reach beyond state appropriations.

Name

Lagos State Employment Trust Fund

Legal name

Lagos State Employment Trust Fund

Website

https://lsetf.ng

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

LSETF is a Lagos State Government trust fund, established by law in 2016, that provides MSME loans, grants, employability training, workspace subsidies, and job placement services to Lagos residents and small businesses.

Ownership category

akta.pro rank

Product category

Government Employment Trust Fund

akta.pro primary industry

National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

akta.pro secondary industries

Trust Funds & Multi-Donor Pooled Funds (BPADAOAE), National/Regional Development Finance Institutions (DFIs) (FSABAKAB), Grantmaking & Philanthropic Funds (Institutional Donors) (BPADAOAB)

Keywords

• MSME loan financing
• Employability training
• Job placement services
• Government trust fund
• Startup workspace subsidies

Headquarters

HQ city

Oregun

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. MSME Loan Disbursement: Government trust fund providing low-interest loans to small and medium enterprises. The fund disbursed over N15 billion to 20,000+ businesses, generating employment across Lagos State.
2. Employability Training Programs: Vocational training, online soft skills training, and workshop-based training (CV preparation, Job application, PoS training) for Lagos residents to improve employment outcomes.
3. Workspace Subsidies: Voucher-based workspace rental support for early-stage founders and startups through the Lagos Innovates initiative.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Lagos State Employment Trust Fund (LSETF) is a government-backed trust fund that provides low-interest MSME loans, employability training, workspace subsidies, and job placement services to Lagos State residents and businesses. Since 2016, it has disbursed over N15 billion to 20,000+ small and medium enterprises and trained 21,000+ youths through vocational and skills development programs. The fund operates through multiple integrated initiatives covering MSME financing, startup ecosystem support (Lagos Innovates), youth employability, and COVID-19 economic recovery (Lagos Cares).

Product overview

Lagos State Employment Trust Fund (LSETF) is a government trust fund established in 2016 to provide financial support to Lagos residents for job and wealth creation. The portfolio consists of a core MSME Loan Programme providing business financing, the Lagos Innovates ecosystem platform offering workspace subsidies and startup support, and the Employability unit focused on youth skills development through vocational training and internships. Supporting initiatives include Lagos Cares (COVID-19 economic stimulus with grants for MSMEs), the Female Founders & Funders Programme, Workspace Voucher Programme, Eko Hub Model for co-working spaces, and Job Hubs for employment facilitation. The fund has disbursed over N15 billion to 20,000+ businesses, created 320,000+ jobs, and maintains a 94.53% loan repayment rate.

Differentiator

Problem solved

Functional benefit

Products and services

• MSME Loan Programme Micro, Small, and Medium Enterprises loan program providing financial support in the form of low-interest loans to Lagos residents and businesses for job and wealth creation. The fund has disbursed over N15 billion to 20,000+ businesses with a 94.53% loan repayment rate.
• Lagos Innovates An ecosystem initiative supporting startups and entrepreneurs in Lagos with workspace subsidies, mentorship, and funding access programs including the Workspace Voucher Programme and Female Founders & Funders Programme.
• Employability Programme Youth employment and skills development program offering vocational training, internship placements, online soft skills courses, and workshop-based training (CV preparation, job applications, PoS training) for Lagos residents. Has reached 21,000+ youths since 2018.
• Lagos Cares

Quantifiable outcome

• N15 billion disbursed to 20,000+ businesses creating 320,000+ direct and indirect jobs since 2016
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core, secondary and supporting.

• United Nations Development Programme (UNDP)coreStrategic or Co-development Partner · 14 June 2026Strategic partner in the HealthX Catalyst incubation program supporting early-stage health-tech founders. UNDP provides the innovation centre venue for Demo Day 2026 and co-branding for the program.
• Odua Investment Company Limited (OICL)coreStrategic or Co-development Partner · 14 June 2026Partner in HealthX Catalyst incubation program supporting early-stage health-tech founders with investment ecosystem access.
• Washington University in St. LouissecondaryStrategic or Co-development Partner · 14 June 2026Academic partner providing mentorship and startup development frameworks for the HealthX Catalyst program.
• Brooks InsightssupportingStrategic or Co-development Partner · 14 June 2026Partner providing industry access and research insights for HealthX Catalyst program participants.
• United Nations Development Programme (UNDP)coreStrategic or Co-development PartnerInternational development partner collaborating with LSETF Employability Unit, leveraging international partnerships to enhance training programs for Lagos youth.
• Korea Training Institute (KTI)supportingStrategic or Co-development PartnerTraining and capacity building partner supporting LSETF vocational training programs.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank of Industry (BOI): Nigeria's federal development finance institution providing credit, guarantees, and capacity building to MSMEs and manufacturing enterprises. Closest federal-level analog to LSETF's MSME lending mandate and target segment.
• Development Bank of Nigeria (DBN): Wholesale Nigerian development finance institution providing funding and risk-sharing to intermediaries that on-lend to MSMEs. Operates in the same DFI/MSME credit space as LSETF but at the wholesale tier.
• SMEDAN (Small and Medium Enterprises Development Agency of Nigeria): Federal agency promoting MSME development through training, advisory, and policy. Shares LSETF's mandate of MSME capacity building and employment promotion at the national level.
• Nigeria Export-Import Bank (NEXIM): Federal DFI providing export-oriented financing, credit guarantees, and trade support. Comparable as another Nigerian government-owned development finance institution addressing specific credit gaps.
• Tony Elumelu Foundation (TEF): Pan-African philanthropy providing seed capital, training, and mentorship to African entrepreneurs and MSMEs. Highly comparable to LSETF's MSME financing plus entrepreneurship training model.

Broad incumbents

• International Finance Corporation (IFC): World Bank Group's private-sector development arm investing in emerging market financial institutions and MSMEs. Already partners with LSETF through NG-CARES; represents the global template for what LSETF operates at the Lagos State level.
• African Development Bank (AfDB): Continental multilateral development bank financing infrastructure, MSME, and employment programs across Africa. Larger geographic and product footprint but directly comparable development-finance mandate and MSME focus.
• FMO (Dutch Entrepreneurial Development Bank): European DFI providing debt and equity to financial institutions, funds, and businesses in emerging markets including Nigeria. Comparable as a sophisticated DFI with strong MSME and inclusive-business focus.
• KfW Development Bank: German state development bank financing private-sector development, MSME, and employment programs in Africa. Already a partner of LSETF via GIZ; comparable as a major bilateral DFI funding similar program types.

Emerging players

• Co-creation Hub (CcHUB): Nigerian innovation and startup hub running accelerators, funding programs, and workspace initiatives. Comparable as an ecosystem player in Lagos Innovates' territory (workspace, founder support, Female Founders-style programs).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=-SHwyfAQ8F0
• Xx.com/lsetf
• Facebookfacebook.com/lsetfng
• LinkedInlinkedin.com/company/lsetf

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lagos State Employment Trust Fund