The Lagos State Government has reiterated its commitment to enhancing the ease of doing business by leveraging multiple platforms to boost investor confidence and drive economic growth.
Commissioner for Commerce, Cooperatives, Trade and Investment, Ms. Folashade Ambrose-Medebem stated this during the ongoing 2025 Ministerial Press Briefing held at Alausa, Ikeja.
She called on residents to patronise locally made goods in order to promote the local economy and support domestic manufacturers.
Ambrose-Medebem highlighted that the Sanwo-Olu administration had embarked on several strategic initiatives to improve the business climate. These include fostering bilateral trade relations with countries such as Germany, India, and the United Arab Emirates, aimed at expanding the state’s global economic ties.
According to the Commissioner, plans are underway to establish the Lagos State Industrial Innovation Zone, a flagship initiative designed to stimulate local production and innovation. She also announced the operationalisation of the Lekki Deep Sea Port, describing it as a critical milestone in improving the state’s logistics capacity and international trade access.
She disclosed that Lagos State had secured over four million dollars through the World Bank-supported State Action on Business Enabling Reforms (SABER) initiative. In addition, the state engaged with business leaders and trade associations via its Diaspora and Local Industry Engagement platform to foster inclusive economic participation.
In the area of consumer rights, Ambrose-Medebem revealed that the Lagos State Consumer Protection Agency received 1,678 complaints in the past year. Of these, 1,488 were resolved, 23 were referred, and 160 cases are still ongoing.
Looking ahead, the Commissioner said the Ministry is laying a solid foundation for a comprehensive industrial policy across short-, medium-, and long-term phases. The goal, she noted, is to create 50,000 new direct jobs within the Lekki corridor, and to disburse loans to the first cohort of Micro, Small and Medium Enterprises (MSMEs) and cooperatives through the Lagos State Micro-Enterprise Cooperative Scheme (LASMECO).