The Lagos State Government has announced plans to formally unveil its Lagos State Industrial Policy (2025–2030) on Thursday, April 31 alongside the rollout of a ₦10 billion access-to-finance programme for Micro, Small and Medium Enterprises (MSMEs) through cooperative societies.
The Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada Ambrose-Medebem, disclosed this on Monday at a press briefing held at the Bagauda Kaltho Press Centre, Alausa, Ikeja.
She said the upcoming policy would serve as a major blueprint for transforming Lagos into Africa’s leading industrial hub, with a strong focus on manufacturing, innovation, trade expansion, and inclusive economic growth.
According to her, the initiative is anchored on the state’s THEMES Plus development agenda, which prioritises economic diversification, job creation, infrastructure development, and private sector participation.
“The Lagos State Industrial Policy 2025-2030 represents a structured pathway to accelerate industrial growth across sectors where Lagos already has a comparative advantage,” she said.
Ambrose-Medebem explained that the policy would target key sectors, including manufacturing, agro-processing, creative economy, healthcare, digital trade, and the blue economy, while addressing critical constraints such as infrastructure deficits, regulatory bottlenecks, and limited access to finance.
She added that small and medium-scale enterprises remain central to the state’s industrialisation drive, describing them as “the backbone of the Lagos economy and the foundation of future employment generation.”
In line with this, the Commissioner announced the implementation of the ₦10 billion Lagos State Government+Bank of Industry (LASG-BOI) Access to Finance Scheme, designed to support MSMEs through cooperative societies.
She disclosed that the state government has approved a ₦5 billion counterpart funding, matched by the Bank of Industry, while Sterling Bank and designated partners will facilitate transparent selection and disbursement to beneficiaries.
“This is the largest cooperative-led MSME financing intervention in the history of the Ministry,” she said, adding that disbursement to qualified cooperatives would commence in the coming weeks.
Ambrose-Medebem further noted that the industrial policy would prioritise innovation, technology adoption, and human capital development to ensure Lagos remains competitive in a rapidly evolving global economy.
She stressed that sustainability would be a key pillar of the framework, with provisions for cleaner production, environmental compliance, and responsible industrial expansion.
The Commissioner also confirmed that the official launch of the Industrial Policy will hold on Thursday, 30 April 2026, at the Lagos Continental Hotel, Victoria Island, with stakeholders from the public and private sectors expected to attend.
She urged members of the press to play an active role in reporting the implementation of the policy, noting that its success would depend on transparency, accountability, and continuous public engagement.
The Lagos Industrial Policy 2025-2030 is expected to set the tone for the state’s long-term ambition of becoming Africa’s foremost destination for industrial investment and economic transformation.
