The Lagos State Government, through the Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI), in partnership with the Bank of Industry (BOI) and Sterling Bank, hereby invites reputable organizations to express interest in serving as Accelerator Programmes (APs) under the Lagos State Access to Finance for MSMEs through Cooperatives (LASMECO) Scheme.
LASMECO is a ₦10 billion financing programme offering affordable, single-digit interest loans (9% p.a.) to qualified MSMEs across Lagos State. It leverages cooperative societies, structured mentorship, and business development services to drive inclusive growth, job creation, and sectoral transformation.
Who We Are Looking For
We seek organizations with proven sectoral expertise to serve as APs in the following areas:
- Agriculture and Agribusiness
- Manufacturing and Light Industry
- Healthcare and Life Sciences
- Digital Economy and ICT
- Circular Economy and Green Enterprises
- Creative Industries and Tourism
- Technical/Vocational Education and Training
- Other impactful MSME value chains
Accelerators will:
- Mobilize and train MSMEs within their sector.
- Provide business plan support and credit-readiness preparation.
- Recommend loan amounts and provide post-loan mentorship.
- Track business performance and support loan recovery.
Eligibility Requirements
Interested entities:
- Must be CAC registered in Nigeria and operational in Lagos State.
- Must have verifiable operational offices and an active presence in Lagos State
- Must have at least 3 years of MSME development experience.
- Must have demonstrate sector-specific technical expertise.
- Must have proven experience in Capacity building/training of MSMEs or outreach, cooperatives and monitoring.
- Must be experienced in entrepreneurship support, business development, or financial literacy programs.
- Must be experienced in Loan readiness or investment-readiness programs.
- Must be digitally enabled
Mandatory Documents to be Submitted:
- A cover letter indicating preferred sector(s).
- Organizational profile and proof of registration (Company Profile, Certificate of Incorporation CAC, Tax Identification Number (TIN))
- Evidence of Office Location
- CVs of Key Staff
- Methodology for MSME support and business development.
- Financial capability documents.
- Curriculum Overview
- Sample Training Report
- Evidence/References of relevant past projects.
- Monitoring Tools Sample
- Declaration of no litigation/blacklisting (Affidavit)
Training Modules Experience required:
The training curriculum can include:
- Business Planning & Development
- Financial Literacy and Bookkeeping
- Loan Application & Utilization
- Cooperative Governance and Accountability
- Post-loan Monitoring & Evaluation
- Monitoring and Evaluation Framework
How to Apply To apply, interested organizations should visit: www.sterling.ng/lasmecoAccelerators
Deadline for submission: Sunday, July 13, 2025 | 6:00 PM WAT
Remuneration
APs will be compensated a success-based facilitation fee of ₦200,000 per approved MSME loan and receive ongoing support and visibility as part of the Lagos State enterprise ecosystem.
Issued by: Honorable Commissioner for Commerce, Cooperatives, Trade and Investment
Ministry of Commerce, Cooperatives, Trade and Investment,
Lagos State Government
