In a bold move to position Lagos as Africa’s hub for medical innovation and industrial health advancement, the Lagos State Government has inaugurated the Steering Committee for the Lagos State Medical, Industrial, and Innovation Zone (LASMIIZO).
Held at the Ministry of Health in Alausa, the event gathered key government officials, private sector stakeholders, and technical experts to chart a transformative course for healthcare development and bioeconomy in the state.
Chairing the session, the Commissioner for Health, Prof. Akin Abayomi, described LASMIIZO as a strategic platform to shield Lagos from global health and economic disruptions, while unlocking its vast healthcare assets. Though conceptualised before the COVID-19 pandemic, he said the project gained urgency in its aftermath, reinforcing the need for local capacities in vaccine development, drug manufacturing, and diagnostic innovation.
“Lagos is uniquely positioned to lead Africa into a knowledge-driven healthcare future,” Prof. Abayomi stated. “We are sitting on a goldmine of data and biological diversity. LASMIIZO will allow us to turn these into research breakthroughs, patents, and locally produced medical solutions.”
He outlined a three-tier structure for LASMIIZO:
- Innovation Zone – for research, data analytics, and patent development.
- Medical Industrial Zone – a manufacturing enclave within the Lekki Free Trade Zone.
- Live-Work Community – a residential and social hub designed to attract global talent.
The Commissioner also announced the deployment of a smart health information system across Lagos’ primary and secondary health facilities to collect real-time patient data. This data, he said, will fuel research, support evidence-based policy, and create economic value within LASMIIZO.
Commissioner for Commerce, Trade, Cooperatives, and Investment, Mrs. Folashade Ambrose-Medebem, who co-chairs the committee, described LASMIIZO as a “trailblazing initiative” with the potential to reshape not just Lagos, but Nigeria’s and Africa’s medical-industrial landscape. “This isn’t just a zone; it’s a legacy,” she said.
Dr. Olamide Okulaja, Technical Adviser to the project, presented the committee’s Terms of Reference, which emphasise inter-ministerial collaboration, stakeholder mobilisation, and robust governance. He introduced two key financial strategies:
- Land-for-Equity Model – enabling innovators to use land within the zone as equity, reducing upfront capital barriers.
- Operation Product Ignite Catalytic Fund – a pooled investment model targeting private equity, banking institutions, and biotech-focused investors.
Among the attendees were key figures from Lekki Worldwide Investment Limited, Ibile Holdings, the Ministry of Justice, and PRS, all of whom endorsed the framework, governance structure, and financial strategy.
The LASMIIZO Steering Committee will operate through 2030, meeting bi-monthly and reporting quarterly to Governor Babajide Sanwo-Olu. The initiative aims to attract international pharmaceutical firms, biotech researchers, and healthcare investors to Lagos.
With its population scale, health infrastructure, and political momentum, Lagos is poised to emerge as Africa’s leading biotech and healthcare manufacturing hub.
As Prof. Abayomi concluded, “We don’t have oil in Lagos, but we have people, knowledge, and innovation. That is our new oil, and LASMIIZO is how we’ll refine it.”