Lagos State Government has unveiled its Industrial Policy 2025-2023 designed to transform the state’s industrial sector, attract local and foreign direct investment into priority sectors, and strengthen institutional coordination, translating the policy commitments into real outcomes for the people of the state.
Lagos State Governor, Babajide Sanwo-Olu, led eminent members of the diplomatic corps, senior government officials, captains of industries and others at the event held in Lagos yesterday.
Speaking at the ceremony, through the Secretary to the State Government, Barrister ‘Bimbola Salu-Hundeyin, Governor SanwoOlu described the new industrial policy as both urgent and compelling for a state that is long been the commercial heartbeat of Nigeria, and a vital gateway to West Africa.
His words: “The global industrial landscape is changing rapidly. Supply chains are evolving, technology is redefining production systems, and competitiveness is increasingly determined by efficiency, by innovation, and by resilience, with scale alone no longer sufficient to secure the markets of the future.
“To remain at the forefront, Lagos must do more than adapt. We must lead. This policy is our considered response to that imperative. It is designed to address longstanding structural challenges, to unlock new growth opportunities, and to ensure that our industrial sector becomes a powerful engine for inclusive economic development across this state.”
According to the him, the policy is firmly anchored in the broader development vision, aligning seamlessly with the T.H.E.M.E.S Development Agenda, particularly in advancing a 21st Century economy, in strengthening infrastructure, and in fostering sustainable growth. It is equally aligned with the Lagos State Development Plan 2052, which envisions Lagos as a globally competitive megacity driven by productivity, by innovation, and by industrial excellence.
“At its core, the policy is built on clear and strategic pillars; prioritising industrial infrastructure development; committing to regulatory reform and the ease of doing business; strengthening access to finance and investment promotion; advancing skills development and workforce readiness; and promoting innovation, technology adoption, and sustainability. “From these pillars flow clear and measurable deliverables. We will expand and optimise industrial clusters and estates across the State.
We will improve the efficiency of our port system, as is being done through the Lekki Deep Sea Port, and of our broader transport networks, to reduce the cost of moving goods. We will support small and medium‑scale manufacturers to scale their operations and to integrate into both regional and global value chains,” he said.
