The Lagos State governor, Babajide Sanwo-Olu, has reiterated his government’s commitment towards building and strengthening industrial corridors and free zones in a bid to attract more investments into the state.

Delivering the keynote address at the celebration of the Lagos State Day at this year’s Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI), held at Tafawa Balewa Square (TBS) in Lagos, the governor commended the achievements of the Lekki Economic Zone (LEZ), which he said has attracted over $25 billion in investments till date.

Represented by the state’s Commissioner for Information and Strategy, Gbenga Omotosho, he vowed to replicate this feat across all the other trade zones in the state, noting that the government was pushing more developments to Epe and other parts of the state to spread opportunities.

Sanwo-Olu added that the state was expanding its industrial zones and clusters, from the Lekki Free Zone to the Agbowa Timberville, the Ibeju-Lekki industrial corridor, and others, to ensure that manufacturers, exporters and service providers could operate in well-serviced, secure and cost-efficient environments.

“Just this year, we took a major step toward completing the Small-Scale Industrial Estate in Imota, conceptualised as an integral part of the industrial city, to serve as additional industrial production space for Micro, Small, and Medium Enterprises (MSMEs), offering quality and an enabling environment for businesses.


“We have rolled out various intervention programmes through different Ministries to provide catalytic funding for MSMEs. From over N25 billion disbursed through the Lagos State Employment Trust Fund (LSETF), to the N10 billion LASG-BOI Access to Finance Scheme for MSMEs through cooperatives, training 252 MSMEs on export readiness and sponsoring 20 trade champions to the Intra-African Trade Fair in Algiers, we have institutionalised deliberate strategies to empower MSMEs to scale and prosper,” he said.

On the policy front, he said the state had institutionalised mechanisms such as the Lagos Corporate Assembly, a public-private engagement platform through which the private sector, MSMEs, and organised businesses had direct input into policymaking.

Many of these engagements, he said, were strengthened by the insights and advocacy of the LCCI, ensuring that reforms remained business-relevant and investor-sensitive.

“The new Lagos State Industrial Policy (LSIP) is also a product of constructive engagement with all stakeholders. We are encouraging start-ups and preparing our economy to leverage the African Continental Free Trade Area (AfCFTA).

“We will also intensify our support for MSMEs, who remain the backbone of our economy. Our collaboration with LCCI remains crucial as we design programmes that empower small businesses, strengthen export readiness and connect Lagos-based enterprises to regional and global markets,” he said.

The State commissioner for commerce, cooperatives, trade and investment, Folashade Ambrose-Medebem, hailed the 10-day fair and the unveiling of the largest Lagos State Pavilion ever mounted at the annual fair.

Revealing that the pavilion successfully accommodated a record number of MSMEs across diverse sectors, she expressed joy that many exhibitors secured on-the-spot sales, export linkages and distribution partnerships.