The Lagos State Government has unveiled plans to position the state as the industrial capital of Africa with the forthcoming launch of its Industrial Policy for 2025 to 2030.
Speaking at a news conference held at the Bagauda Kaltho Press Centre within the Lagos State Government Secretariat, Alausa, Ikeja, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada-Ambrose, described the policy as the most ambitious industrial agenda ever undertaken by the state.
She said the policy, scheduled for public launch on April 30, 2026, outlines a comprehensive strategy to accelerate industrial growth, deepen economic competitiveness, and strengthen Lagos’ position as Nigeria’s economic hub.
According to the Commissioner, the initiative is being driven under the leadership of Governor Babajide Sanwo-Olu and aligns with his THEMES Plus development agenda, which prioritises strategic planning, private sector collaboration, and measurable economic outcomes.
Mrs Bada-Ambrose noted that Lagos already plays a dominant role in Nigeria’s economy as a financial, commercial, and cultural centre, but emphasised that the new policy is designed to expand that influence into full-scale industrial leadership across Africa.
She explained that the policy focuses on key sectors including agro-processing, light manufacturing, the creative industry, healthcare and life sciences, the blue economy, and digital trade.
The Commissioner added that the government has identified major constraints to industrialisation—such as infrastructure gaps, regulatory bottlenecks, and supply chain challenges—and has developed clear timelines to address them.
A major highlight of the policy, she said, is its strong focus on small and medium-sized enterprises, which form the backbone of Lagos’ economy.
She disclosed that the state is expanding access to finance for SMEs, simplifying regulatory processes, and providing technical support to enable businesses to scale, formalise, and compete globally.
Mrs Bada-Ambrose also emphasised the role of innovation, technology, and human capital development, noting that Lagos is positioning itself for a digital and knowledge-driven industrial future.
She added that sustainability is a key pillar of the policy, with commitments to environmentally responsible industrial practices and adherence to global standards.
The Commissioner stressed that implementation has already begun, citing three flagship initiatives: a ₦10 billion MSME financing programme in partnership with the Bank of Industry, the development of a 44-unit Light Industrial Park in Imota, and the upcoming Invest in Lagos Summit 3.0 scheduled for June 2026.
She said the summit, organised in collaboration with the Commonwealth Enterprise and Investment Council, will serve as a platform to attract global investors and secure commitments to support the state’s industrial ambitions.
Mrs Bada-Ambrose called on journalists to play an active role in tracking the implementation of the policy, stressing that transparency and accountability would be critical to its success.
She expressed confidence that the Industrial Policy would drive job creation, support business growth, and deliver long-term economic prosperity for Lagos residents.