By Merit Ibe
Lagos State Government has launched an Industrial Policy (2025–2030) designed to reposition the state as Africa’s leading industrial hub, with a strong focus on boosting productivity, attracting investment and significantly increasing its contribution to national Gross Domestic Product.
The policy, which sets out a five-year roadmap for economic transformation, targets long-standing structural bottlenecks that have constrained industrial growth, including erratic power supply, limited access to affordable finance, weak logistics networks and regulatory inefficiencies.
Speaking in Lagos, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada Ambrose-Medebem, said the framework is built to deepen industrial capacity and strengthen Lagos’ competitiveness in both regional and global markets.
According to her, the policy prioritises high-impact sectors such as agro-processing, light manufacturing, healthcare, the creative economy and digital services, positioning them as key drivers of growth and job creation.
According to the commissioner, the policy is designed to consolidate Lagos’ position as Nigeria’s economic nerve centre while accelerating industrial growth across key sectors including agro-processing, light manufacturing, healthcare, creative industries, digital trade and the blue economy.
Ambrose-Medebem said the initiative is being driven under the leadership of Governor Babajide Olusola Sanwo-Olu, whose administration’s THEMES Plus agenda prioritises economic expansion through structured planning and public-private collaboration.
“Lagos has decided not just to participate in global industrialisation trends, but to shape them,” she said.
A central pillar of the policy, she disclosed, is support for small and medium-sized enterprises (SMEs), which the government described as the backbone of the state’s economy.
The commissioner announced a N10 billion Access to Finance scheme for MSMEs through cooperatives, implemented in partnership with the Bank of Industry and Sterling Bank.
The initiative includes a N5 billion matching fund from the state government, with disbursement expected to begin within weeks.
She said the programme is the largest cooperative-based MSME financing intervention in the ministry’s history.
The government is also advancing the development of a 44-unit Light Industrial Park in Imota, designed to provide affordable and fully serviced production spaces for manufacturers. The facility is nearing completion and will be commissioned shortly.
The commissioner noted that the policy addresses longstanding constraints to industrial growth, including inadequate infrastructure, regulatory bottlenecks and supply chain inefficiencies.
She stated that the government will prioritise improvements in power supply, transportation networks and industrial clusters, while streamlining business registration and regulatory processes.
She added that innovation and human capital development will play a critical role, with plans to align skills training programmes with industry demands and strengthen partnerships with academic and research institutions.
“Environmental sustainability is another core component of the policy, with commitments to cleaner production methods, responsible resource management and adherence to global environmental standards.”
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