Lagos Govt Unveils Industrial Policy To Enhance Economic Growth

Lagos State government has unveiled its ambitious Industrial Policy from 2025 to 2030, saying the roadmap will help the state to boost its economic prosperity and position it as a leading industrial hub in Africa.

At the launch in the Lagos Island, Governor Babajide Sanwo-Olu, represented by the secretary to the state government (SSG), Bimbola Salu-Hundeyin, described the policy as a strategic blueprint to reposition Lagos’ industrial sector for competitiveness in a rapidly evolving global economy.

He said the policy is designed to tackle structural constraints, unlock new growth opportunities, and drive inclusive economic development across the state.

According to the governor, Lagos must move beyond adaptation to take a leadership role in industrialisation, noting that global competitiveness is now defined by innovation, efficiency, and resilience.

The governor added that it aligns with the state’s THEMES Plus development agenda and the Lagos State Development Plan, and also supports national priorities such as industrial diversification, export growth, and job creation.

Key pillars in the policy launched include infrastructure development, regulatory reform, improved access to finance, workforce development, and the promotion of innovation and sustainability.

Sanwo-Olu added that the state will expand industrial clusters, improve logistics and port efficiency, and support small and medium-scale enterprises to scale and integrate into regional and global value chains.

He also highlighted Lagos’ strategic role under the African Continental Free Trade Area, positioning the state as a gateway for trade and industrial expansion across the continent.

In a goodwill message, the Minister of State for Industry, John Owan-Enoh, commended Lagos for becoming the first sub-national government in Nigeria to develop a comprehensive industrial policy.

Represented by Mr Tope Osinowo, he noted that Lagos hosts a significant share of Nigeria’s industries and urged effective implementation to sustain growth.

Earlier, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described the policy as a “covenant” between government and the people, aimed at strengthening local production, deepening value chains, and integrating informal enterprises into the formal economy.

She said the policy, developed through extensive stakeholder consultations, is designed to deliver practical outcomes across sectors, from small cooperatives to large-scale industries.

The Commissioner called on investors and development partners to support the initiative, assuring that Lagos remains committed to providing an enabling environment for industrial growth.