BENJAMIN OMOIKE
LAGOS, Nigeria – Lagos State Government has concluded arrangements to launch its much-anticipated Lagos State Industrial Policy (2025–2030), a strategic blueprint designed to position the state as Africa’s leading industrial hub.
Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada, disclosed this at a press briefing held on Monday at the Bagauda Kaltho Press Centre, describing the policy as the most ambitious industrial agenda ever conceived by the state.
According to her, the policy will be formally unveiled on Thursday, April 30, 2026, marking a major milestone under the administration of Governor Babajide Sanwo-Olu.
Bada noted that Lagos, widely regarded as Nigeria’s commercial nerve centre and West Africa’s financial hub, is leveraging its economic strength to drive a new phase of industrial growth aligned with global trends.
She explained that the policy provides a structured roadmap to accelerate development across priority sectors such as agro-processing, light manufacturing, the creative economy, healthcare, the blue economy, and digital trade.
“The Lagos State Industrial Policy 2025–2030 creates a clear pathway for sustainable industrial expansion, while addressing systemic challenges that have limited growth,” she said.
The commissioner identified infrastructure deficits, supply chain inefficiencies, and regulatory bottlenecks as longstanding constraints the policy seeks to resolve. She added that it outlines measures to strengthen industrial clusters, improve access to finance, and enhance the ease of doing business in the state.
Central to the framework, she said, is the empowerment of small and medium-sized enterprises (SMEs), which she described as critical to Lagos’ economic resilience. Through targeted interventions, the government aims to expand funding access, provide technical support, and enable SMEs to scale and compete globally.
Bada further emphasised that innovation, technology adoption, and human capital development would drive implementation, positioning Lagos at the forefront of Africa’s transition to a knowledge-based digital industrial economy.
On environmental sustainability, she assured that industrial expansion would comply with global standards, with clear provisions for waste management, emissions control, and responsible resource utilisation.
She revealed that implementation has already commenced, citing key initiatives including a N10 billion Lagos State Government–Bank of Industry MSME financing scheme through cooperatives, the development of a 44-unit Light Industrial Park in Imota, and the forthcoming Invest in Lagos Summit 3.0 scheduled for June 2026.
The commissioner also urged the media to play an active role in monitoring implementation, stressing the importance of accountability and public awareness.
“The true measure of this policy will be seen not only in economic growth figures but in its impact on the lives of Lagosians,” she said.
In his remarks, Permanent Secretary in the ministry, Babatunde Onigbanjo, described the policy as an inclusive framework developed through extensive stakeholder consultations.
He said the document reflects contributions from government agencies, industry stakeholders, and development partners, adding that mechanisms would be established post-launch to strengthen implementation and ensure continuous improvement through feedback and collaboration.
