The Lagos State Government has unveiled plans to roll out a comprehensive Industrial Policy (2025–2030) aimed at accelerating business growth, strengthening infrastructure, and positioning the state as Africa’s leading industrial hub, with a strong emphasis on MSMEs and industrial clusters.
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Speaking at a press conference held at the Bagauda Kaltho Press Centre, Secretariat, Alausa, Ikeja, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described the policy as the most far-reaching industrial agenda in the state’s history. She disclosed that the official launch is scheduled for April 30 at the Lagos Continental Hotel, Victoria Island, noting that the initiative represents a “defining moment” in Lagos’ economic evolution.
According to her, the policy is structured to reinforce Lagos’ position as Nigeria’s economic nerve centre while unlocking growth across key sectors such as agro-processing, light manufacturing, healthcare, creative industries, digital trade, and the blue economy. She added that the framework aligns with the broader THEMES Plus agenda of Governor Babajide Olusola Sanwo-Olu, which prioritises economic expansion through strategic planning and public-private partnerships.
“Lagos has decided not just to participate in global industrialisation trends, but to shape them,” Ambrose-Medebem said.
A key component of the policy is targeted support for MSMEs, which the government identified as critical drivers of employment and economic resilience. The commissioner announced a ₦10 billion Access to Finance scheme designed to improve capital access for small businesses through cooperative structures. The initiative is being implemented in partnership with the Bank of Industry and Sterling Bank, with the state government contributing a ₦5 billion matching fund.
Disbursement under the scheme is expected to commence within weeks, with officials describing it as the largest cooperative-based MSME financing intervention undertaken by the ministry to date.
In parallel, the government is advancing industrial infrastructure through the development of a 44-unit Light Industrial Park in Imota. The facility, which is nearing completion, is designed to provide affordable and fully serviced production spaces for manufacturers and small-scale industrial operators.
Ambrose-Medebem noted that the policy directly addresses longstanding constraints to industrial growth, including infrastructure deficits, regulatory bottlenecks, and supply chain inefficiencies. She said the government will prioritise improvements in power supply, logistics networks, and industrial clustering, alongside reforms to streamline business registration and regulatory processes.
She further highlighted plans to deepen innovation and human capital development by aligning skills training with industry needs and strengthening collaboration with academic and research institutions.
Environmental sustainability also features prominently in the policy, with commitments to cleaner production systems, efficient resource utilisation, and compliance with global environmental standards.
To drive investment inflows, the state will host the Invest in Lagos Summit 3.0 on June 8 and 9 at Eko Hotels and Suites, in partnership with the Commonwealth Enterprise and Investment Council. The summit is expected to serve as a platform to present the industrial policy to global investors and secure strategic investment commitments.
The commissioner emphasised that implementation is already underway, noting that the policy is “moving from paper to practice,” while calling on the media to track progress and ensure accountability.
“The success of this policy will not only be measured in economic data, but also in public scrutiny and engagement,” she said.
