In a move to empower small businesses and informal sector women traders, the Lagos State Government has unveiled a N500bn fund for Micro, Small and Medium Enterprises, with a special focus on women.

The announcement was made during the Lagos leg and grand finale of the ECOWAS Caravan 2025, a regional campaign aimed at supporting women in cross-border trade across West Africa.

A Tuesday statement noted that the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, said the fund—approved by Governor Babajide Sanwo-Olu—is matched by an additional N500bn from the Bank of Industry, creating a N1tn 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.

“It is a strategic effort to support women who dominate the informal trade space along the Lagos–West Africa corridor,” Ambrose-Medebem said.