Lagos State Governor Babajide Sanwo-Olu has disclosed that more than 40,000 residents have benefited from various empowerment programmes introduced by his administration to strengthen small and medium-sized enterprises (SMEs) and stimulate economic growth across the state.

The governor said the initiatives were designed to equip entrepreneurs with financial support, business development skills and access to opportunities that would enable them to expand their enterprises and create jobs. He noted that SMEs remain a key driver of Lagos' economy and deserve sustained government support.

Sanwo-Olu stated that the programmes have focused on youths, women and other vulnerable groups, providing beneficiaries with grants, training and other interventions to improve productivity and enhance their competitiveness. He added that the government would continue to invest in policies that encourage innovation and entrepreneurship.

According to the governor, empowering small business owners is central to the state's development agenda, as thriving enterprises contribute to wealth creation, poverty reduction and increased economic activities. He urged beneficiaries to utilise the opportunities responsibly to grow sustainable businesses.

The Lagos State Government reaffirmed its commitment to expanding empowerment programmes and creating an enabling environment for businesses to thrive, saying it remains focused on building a resilient economy driven by private sector growth and inclusive development.