The Lagos State Government is set to launch its Industrial Policy (2025–2030), a comprehensive plan aimed at transforming the state into Africa’s leading industrial and manufacturing hub.
Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, disclosed this during a press briefing in Alausa, Ikeja, noting that the policy reflects months of stakeholder engagement, data-driven research and alignment with global best practices.
She described the initiative as one of the most ambitious industrial agendas in the state’s history, designed to accelerate economic diversification, reduce reliance on imports and boost value addition across key sectors.
According to her, the policy aligns with Governor Babajide Sanwo-Olu’s THEMES Plus development agenda and emphasises strategic planning, disciplined execution and strong collaboration between the public and private sectors.
Ambrose-Medebem said the framework identifies priority sectors including agro-processing, manufacturing, the creative economy, healthcare, the blue economy and digital trade, all selected for their potential to drive job creation, exports and inclusive growth.
She noted that the policy also addresses long-standing challenges such as infrastructure deficits, regulatory bottlenecks and supply chain inefficiencies, with clear timelines for resolution.
Small and medium-sized enterprises (SMEs), she added, will play a central role, with targeted support in the form of improved access to finance, streamlined regulations and capacity-building initiatives.
The commissioner highlighted ongoing efforts to support implementation, including the N10 billion Lagos State Government–Bank of Industry MSME financing scheme, which is expected to begin disbursements soon.
She also pointed to the development of the Imota Light Industrial Park, which will provide affordable and purpose-built facilities for manufacturers, particularly SMEs, to enhance productivity and reduce costs.
Ambrose-Medebem further announced the upcoming Invest in Lagos Summit 3.0, scheduled for June 8 and 9, which is expected to attract global investors and showcase the state’s industrial potential.
The official launch of the policy will take place on April 30 at the Lagos Continental Hotel, Victoria Island, bringing together investors, industry leaders and development partners.
She reaffirmed the government’s commitment to sustainable and inclusive industrialisation, with a focus on job creation, youth empowerment and improved living standards for residents.