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Summary
Lagos State Government is set to fund female traders in MSMEs with N500 billion. The Commissioner of Commerce, Cooperatives, Trade and Investment in Lagos, Folashade Ambrose-Medebem, noted that it is a strategic effort to support women who dominate the informal trade space. The loan would be non-collateralised with zero interest.
In a bid to empower and support traders, the Lagos State Government is set to release a N500 billion fund for women in the Micro, Small and Medium Enterprises (MSMEs).
This announcement was made by Folashade Ambrose-Medebem, Commissioner of Commerce, Cooperatives, Trade and Investment in Lagos, during the ECOWAS Caravan, 2025. The event was held on Tuesday, July 14, 2025, at the Federal Palace Hotel, Victoria Island, to boost small-scale female traders’ visibility and economic potential.
According to NBS, women-owned businesses account for 40% of Nigeria’s MSMEs. For many female traders, sources of funding are very limited. With a financing gap of 32%, women are less likely to receive funding or receive smaller amounts.
Speaking at the ECOWAS Caravan, Commissioner Folashade Ambrose-Medebem noted that Lagos State will receive an additional N500 billion from the Bank of Industry, making it a N1 trillion financing pool.
“This fund is non-collateralised, includes a six-month moratorium, and offers a zero per cent interest window for cooperative-backed informal businesses,” she said. “It is a strategic effort to support women who dominate the informal trade space along the Lagos-West Africa corridor.”
