Israel Oluyemi
The commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, has announced that Lagos State will launch a new Industrial Policy (2025–2030) to accelerate economic growth and strengthen the state’s industrial base.
She disclosed, noting that the framework emerged from extensive consultations and data-driven planning aligned with Governor Babajide Sanwo-Olu’s development agenda.
Ambrose-Medebem said the policy sets out a coordinated plan to expand local production, reduce dependence on imports, and improve value addition across major sectors of the state economy.
She described the initiative as a major economic shift for Lagos, stating, “Within 72 hours, Lagos will launch its Industrial Policy 2025–2030, committing stakeholders to a coherent and actionable plan for industrial transformation.”
The policy targets key sectors including agro-processing, manufacturing, healthcare, creative industries, blue economy and digital trade to drive investment and job creation.
Ambrose-Medebem linked the strategy to the governor’s economic direction, noting, “The governor insists on strategic planning, disciplined execution and strong public-private collaboration as foundations for sustainable prosperity.”
Implementation has already started through initiatives such as the N10 billion LASG-BoI MSME financing programme, designed to improve access to credit for small and medium-sized enterprises.
The state government also advanced the Imota Light Industrial Park project to support manufacturing operations with affordable and efficient production facilities.
Ambrose-Medebem stated, “The park will provide affordable, purpose-built facilities, improving efficiency and reducing production costs.”
Officials also confirmed plans for the Invest in Lagos Summit 3.0, scheduled for June 8 and 9, to attract investors and promote the new industrial framework.
She added, “We are building a workforce for a digital, knowledge-driven industrial future through skills development and institutional partnerships,” as Lagos positioned the policy as a key driver of sustained economic growth.