Lagos State Government Invites Entrepreneurs To Apply for up to N5m for Their Business
- The Lagos State CARES Grant is a financial support scheme aimed at helping entrepreneurs
- Applications to the programme have seen a rapid surge as residents demand funding support
- The funds are for startups, small businesses and livelihood recovery across the state
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Lagos State government is expectating application for its COVID-19 Action Recovery and Economic Stimulus (CARES) Program from qualified Nigerians.
The program is targeted funding support for startups, small businesses and livelihood recovery across the state.
Source: Getty Images
The Lagos State CARES programme is one component of Nigeria’s overarching COVID-19 Action Recovery and Economic Stimulus (CARES) framework, aimed at ameliorating the impact of the pandemic on the economy and facilitating sustainable recovery efforts.
Some components of the program are implemented under agencies like the Lagos State Employment Trust Fund (LSETF), which frequently announces updates, eligibility requirements, and application procedures on its online platforms.
According to the agency, basic requirements such as proof of residence, eligibility for business, and valid identity are typically expected of every applicant prior to being considered for any of the state-supported programs.
Beneficiaries are typically included. market traders, artisans, women-led enterprises, youth-led businesses, and others operating in the informal economy, depending on the category.
What is the Lagos CARES grant?
Tribune reports that there has been a surge in applications as residents battle the rising cost of living and harsh business environment.
The program focuses on three results areas:
1. Social Protection
2. Agriculture
3. Micro, Small and Medium Enterprises (MSMEs)
Unlike loans, the grants awarded do not need to be repaid, subject to compliance with the rules of the program.
However, they do not guarantee automatic access to benefits, and the recipients are still subject to a screening and verification process before final selection.
Who is eligible to apply for the grant in Q2 2026?
Although requirements vary across categories and intervention areas/funding cycles, the general applicants for Lagos CARES programs usually target residents of Lagos state and small business operators within the state.
Eligible applicants will include the poor and vulnerable people, micro and small business owners, women-owned businesses and young people.
Common eligible applicants are typically required to have the following information:
- Valid means of identification
- Bank Verification Number (BVN)
- Proof of residence in Lagos State
- Proof of business registration (where applicable)
- Details of bank account (where applicable)
Source: Getty Images
Application procedure
- Go to the Lagos CARES program application website: apply.lsetf.ng
- Select "Lagos CARES"
- Register with an email and phone number to create your profile
- Fill out the online form with your business and grant category information
- Upload documents such as LASRRA ID, tax payment proof and business registration
- Your application is submitted for processing.
- Agents may verify the physical location of your business.
- An update will be provided to you on your application status and grant disbursement via email or SMS.
FG opens portal, Nigerians can borrow up to N300,000 easily
Legit.ng earlier reported that the Nigerian government is set to empower market women, small-scale traders, and artisans with access to zero-interest loans of up to N100,000 through its upcoming programmes, MarketMoni and TraderMoni.
MarketMoni will provide market women with interest-free loans to grow working capital, restock inventory, and expand their businesses.
Beneficiaries will enjoy zero collateral, a 3-month moratorium before repayment, and nationwide coverage across all six geopolitical zones.
Source: Legit.ng
