Business
JUST IN: Lagos State Launches Industrial Policy 2025-2030
The Lagos State Government has launched a new industrial policy aimed at promoting a sustainable industrial environment within the state.
The “Industrial Policy (2025-2030) was presented to the public by the State’s Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Ambrose, during the Lagos State Industrial Policy Consultative Assembly and Validation Workshop, which took place at Alausa Ikeja.
Ambrose mentioned that as the world transitions towards a new era of economic modernisation driven by technology, sustainability and global competitiveness, it is imperative to recalibrate the State’s industrial policies to align with both domestic imperatives and international best practices.
Today’s assembly speaks to our commitment to creating an enabling business environment that encourages sustainable investment, infrastructure development, and industrial growth – pillars that are essential to achieving the objectives outlined in the State’s major development policy documents; T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan (LSDP 2052).
“Industrial Policy (2025-2030) is a defining document – one that signals our readiness to elevate Lagos into a hub of industrial excellence, where businesses can thrive, investments can flourish, and job creation can be maximised,” she said.
According to Ambrose, the disruptions caused by the COVID-19 pandemic exposed vulnerabilities in global supply chains and highlighted the need for stronger local production capacity, and as the State navigates the challenges and opportunities of a post-pandemic global economy, industrial policy must be viewed as a strategic tool for economic resilience.
She said, “Lagos State has long been the cornerstone of Nigeria’s economic advancement, acting as the gateway to trade, commerce, and industrialisation for the nation and beyond.
As Nigeria’s commercial capital, the State must lead the charge in developing a self-sufficient, innovative, and globally competitive industrial ecosystem – one that leverages our vast human capital, geographic advantage, and entrepreneurial strength.”
While describing Lagos as the Future-Ready Economic Giant, she reaffirmed the commitment of the administration of Babajide Sanwo-Olu to ensure a technology-driven economy and a sustainable and climate-resilient state in the continent of Africa.
The Commissioner explained that the consultative assembly is not just another meeting but a call to action to define the future of Lagos’ industrial sector.
Guest Speaker at the event, the National Programme Officer, United Nations Industrial Development Organisation, UNIDO, Reuben Bamidele, underscored the pivotal role of sustainability, innovation and global best practices in shaping a resilient and competitive industrial landscape.
Bamidele commended Lagos State’s commitment to policy-driven industrialisation, emphasising that a robust framework aligned with international standards will foster inclusive growth, attract investment and enhance industrial productivity.
He said, “The Lagos State Government has been recording great traction in the area of facilitating the ease of doing business and implementing smart city, climate-conscious manufacturing and digital transformation initiatives.
More efforts should be devoted to promoting strategic public-private partnerships in green industrialisation, environmental sustainability and circular economy while incentivising Industrial Energy Efficiency (IEE) and Resource Efficient Cleaner Production (RECP) as part of key drivers of economic prosperity.
“In this era of Fourth Industrial Revolution, the State must encourage industrial production that leverages technology, industrial information and data, research and development, domestic and foreign business linkages and certification of artisans.”
In his remarks, the Managing Director of Lekki Worldwide Investments Limited, Mr Adeniyi Akinlusi, described the consultative assembly as a bold initiative and a re-affirmation by Governor Sanwo-Olu that Lagos is not only open for business but ready for business.
He said, “There is no African strategy without a Nigerian strategy, and there is no Nigeria strategy without a Lagos strategy.”
Others who spoke at the event commended the Lagos State Government for its visionary initiative, emphasising the commitment to support policies that empower industries and businesses and strengthen the economy.
Business
NAFDAC’s Ban on sachets alcohol: the economy repercussions, by MAN
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
The Manufacturers Association of Nigeria (MAN) has said that the government’s move to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles, effective December 31, 2025, will have severe repercussions on the economy.
” This announcement by the NAFDAC, in our view, is counterproductive and threatens to disrupt the economy significantly at a time when it is beginning to stabilise,” said the Association through its Director-General, Ajayi-Kadir.
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
• Mass retrenchment of over 500,000 direct employees and approximately 5 million indirect employees through contracts, marketing, and logistics.”
Ajayi-Kadir said that the earlier directive from the Ministry of Health for a one-year extension, which included the consideration and validation of the draft National Alcohol Policy by stakeholders, should have been taken into account before any significant announcement from another government body.
“We believe that a consultation with whether through a public hearing or focused meetings with relevant parties in the alcohol beverage industry, should have been conducted by the appropriate Senate Committee before an outright ban was imposed.
This approach was successfully followed by the House of Representatives in the recent past,” he stated.
Ajayi-Kadir highlighted that issues related to the ban on alcohol in sachets and small PET bottles were addressed by a broad committee that included all stakeholders, along with NAFDAC representatives, who validated the National Alcohol Policy in October 2025. The committee made the following key recommendations:
• Develop multi-sectoral action plans.- Strengthen enforcement by law enforcement agencies
• Establish licensed liquor stores/outlets in Local Government Areas nationwide.
• Increase monitoring and compliance checks by NAFDAC, FCCPC, and others to ensure product quality and safety.
• Regulatory bodies should focus more on regulation, monitoring, and educational campaigns to inform stakeholders and the public about the dangers of underage alcohol consumption and its sale in motor parks.
• Conduct educational campaigns in secondary schools across the country to raise awareness among students about the dangers and issues related to alcohol abuse.
Furthermore, we would like to note that the unfounded and untested claim of abuse by minors has been challenged by several independent studies conducted by the government.
The industry has proactively launched campaigns promoting responsible alcohol consumption to discourage underage abuse, resulting in expenditures exceeding one billion Naira on media outreach across the nation, which has effectively just underage drinking.
Ajayi-Kadir also stressed that the Senate’s directive for an outright ban is unjust and does not reflect the industry’s true conditions, as it seems the upper chamber has only considered NAFDAC’s perspective.
NAFDAC was part of the validation organised by the Ministry of Health, and it should have presented its views to the Committee and the Ministry during that process, rather than circumventing these channels and approaching the National Assembly without consulting other stakeholders.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
Business
UBA commits $102m direct investments in Chad’s securities
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
•Oliver Alawuba, GMD UBA
United Bank for Africa (UBA) Plc has announced a $102 million direct investment in the State of Chad’s securities in an efforts to strengthen economic growth and financial inclusion across Africa.
The announcement was made by UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, during his keynote address at the UAE–Chad Trade and Investment Forum held on Monday, November 10, 2025, in Abu Dhabi, United Arab Emirates.
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
According to Alawuba, the $102 million investment underscored UBA’s confidence in Chad’s economic potential and demonstrates its long-term commitment to financing sustainable development on the continent.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion,” he said. “Here in Chad, this is not a promise; it is a proven track record.”
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