Lagos set to launch new ambitious industrial policy
By Adebola Ogunrinde
The Lagos State Government has concluded arrangements to launch its much-anticipated Lagos State Industrial Policy (2025–2030), a strategic blueprint aimed at positioning the state as Africa’s leading industrial hub.
Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada Ambrose-Medebem, disclosed this on Monday during a press briefing at the Bagauda Kaltho Press Centre, Secretariat, Alausa, Ikeja, describing the policy as the most ambitious industrial agenda ever conceived by the state.
She said the policy would be formally unveiled on April 30, 2026, marking a major milestone under the administration of Governor Babajide Sanwo-Olu. According to her, Lagos is leveraging its status as Nigeria’s commercial nerve centre and West Africa’s financial hub to drive a new phase of industrial growth in line with global trends.
Ambrose-Medebem explained that the policy provides a structured roadmap to accelerate development across key sectors, including agro-processing, light manufacturing, the creative economy, healthcare, the blue economy, and digital trade.
She noted that the framework seeks to address longstanding challenges such as infrastructure deficits, supply chain inefficiencies, and regulatory bottlenecks, while also strengthening industrial clusters, improving access to finance, and enhancing the ease of doing business.
The commissioner added that the policy places strong emphasis on empowering Small and Medium-sized Enterprises (SMEs), which she described as critical to the state’s economic resilience, while also prioritising innovation, technology adoption, and human capital development.
On environmental sustainability, she assured that industrial expansion under the policy would comply with global standards, with provisions for effective waste management, emissions control, and responsible resource utilisation.
Ambrose-Medebem further revealed that implementation has already commenced, citing initiatives such as a N10 billion Lagos State Government–Bank of Industry MSME financing scheme through cooperatives, the development of a 44-unit Light Industrial Park in Imota, and the forthcoming Invest in Lagos Summit 3.0 scheduled for June 2026, while Permanent Secretary in the ministry, Babatunde Onigbanjo, described the policy as an inclusive framework shaped by extensive stakeholder consultations.
