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JUST IN: Lagos State Launches Industrial Policy 2025-2030

Published

1 year ago

February 11, 2025

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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.

Related Topics:Featured Industrial Policy Launch Sanwo-Olu

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Lagos developing world – class new business district —Sanwo-Olu

Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

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• Invest Lagos Summit 3.0: Secretary to the Lagos State Government, ‘Bimbola Salu-Hundeyin (right); Member, House of Representatives, Kafilat Ogbara; Commissioner for Innovation, Science and Technology, Tunbosun Alake; Chairman, Commonwealth Enterprise & Investment Council (CWEIC), Lord Jonathan Marland; Vice President Kashim Shettima; Governor of Lagos State, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Bada Ambrose-Medebem; Deputy Chief of Staff to the Governor, Sam Egube, Dr Toyosi Akerele-Ogunsiji and members of the State Executives Council at the opening of Invest Lagos 3.0, themed: “Lagos – The Business Gateway to Africa”, in Lagos, yesterday.

Lagos State Governor, Babajide Sanwo-Olu, has disclosed that as part of efforts to deepen access to global capital, his administration is developing the Lagos International Financial Centre (LIFC), envisioned as a world-class financial district that would strengthen the state’s position as a gateway for investment into Africa.

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