Lagos State Governor, Babajide Sanwo-Olu, says the state’s Gross Domestic Product (GDP) has grown by almost 50 percent in the last six years—surpassing the economies of more than 40 African countries.
Sanwo-Olu made this known at the Lagos State Day and closing ceremony of the 2025 Lagos International Trade Fair held on Sunday at Tafawa Balewa Square, Lagos. The fair’s theme was “Connecting Businesses, Creating Value.”
Represented by the Commissioner for Information and Strategy, Mr. Gbenga Omotoso, the Governor said the state’s economic expansion was driven by targeted reforms to improve the ease of doing business, attract investments, and deploy technology across government processes.
According to him, the progress reflects how a supportive business environment can translate into tangible economic outcomes, in line with his administration’s T.H.E.M.E.S+ Development Agenda.
“Connecting businesses, creating value is more than a slogan—it captures the essence of what Lagos is doing: building networks, infrastructure, policies, and partnerships that allow enterprises, large or small, local or international, to collaborate, trade, and innovate,” he said.
Sanwo-Olu added that creating sustainable value requires more than transactions—it demands job creation, innovation, stronger supply chains, improved livelihoods, and long-term prosperity for the state.
The Governor highlighted several targeted interventions to support Micro, Small and Medium Enterprises (MSMEs), including over ₦25 billion disbursed through the Lagos State Employment Trust Fund (LSETF), ₦10 billion provided under the LASG-BOI Access to Finance Scheme through cooperatives, the training of 252 MSMEs on export readiness, and sponsorship of 20 “trade champions” to the Intra-African Trade Fair in Algiers.
He commended the Lagos Chamber of Commerce and Industry (LCCI) for its longstanding partnership with the state government, describing the Lagos International Trade Fair as “living proof” of the strength of public–private collaboration.
Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada-Ambrose, noted that the 2025 fair marked a major milestone with the unveiling of the largest Lagos State Pavilion ever showcased at the event.
She said the pavilion served as “a living showcase” of the Sanwo-Olu administration’s support for MSMEs, accommodating 185 enterprises across agribusiness, fashion, creative industries, manufacturing, and services.
According to her, many exhibitors recorded on-the-spot sales, export linkages, and new distribution partnerships—evidence that MSMEs can compete globally when given the right exposure and support.
President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Gabriel Idahosa, expressed appreciation to the state government for its unwavering support of the fair and the organised private sector.
He praised Governor Sanwo-Olu for fostering an inclusive governance approach and assured that the private sector would continue to back the state in its pursuit of innovative, growth-driven initiatives.