The Lagos State Government has unveiled its Industrial Policy 2025–2030, a comprehensive five-year blueprint aimed at transforming the state into a 21st-century industrial hub powered by technology, sustainability, and inclusive economic growth.

At the official launch held in Victoria Island, Governor Babajide Olusola Sanwo-Olu said the Lagos State Industrial Policy (LSIP) is designed to align rapid urbanisation with technology-driven production systems, modern supply chains, and enhanced global competitiveness.

Represented by the Secretary to the State Government, Mrs Abimbola Salu-Hundeyin, the governor called on the private sector to partner with the government in delivering the policy’s objectives, stressing that industrial transformation cannot be achieved by the government alone.

He expressed confidence that the policy would “connect development objectives to institutional reforms, investment rules, spatial planning decisions and a predictable implementation pathway,” ensuring long-term economic stability and growth.

The policy is anchored on key pillars, including industrial infrastructure development, regulatory reform, access to finance, workforce skills development, and the promotion of innovation and sustainability. It also aligns with broader frameworks such as the state’s development agenda and national industrial priorities.

In his remarks, the Minister of State for Industry, Trade and Investment, John Enoh, represented by Engineer Temitope Osinowo, described Lagos as Nigeria’s commercial heartbeat and commended the initiative for aligning with the domestication of the National Industrial Policy.

Earlier, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada-Ambrose, described the LSIP as a strategic and data-driven framework designed to harness Lagos’ human capital and vast market potential.

She noted that the policy represents a “covenant” between government and the people, aimed at strengthening the enabling environment for businesses, deepening local production, and integrating informal enterprises into the formal economy.

According to her, the policy prioritises the development of functional industrial zones, reliable power supply, efficient logistics, and a transparent regulatory environment that supports both small-scale enterprises and large manufacturers.

The initiative also seeks to position Lagos as a leading manufacturing and export hub within Africa, leveraging opportunities under the African Continental Free Trade Area to expand market access and boost regional trade.

With an estimated population of over 25 million, Lagos accounts for about 30 per cent of Nigeria’s Gross Domestic Product, valued at approximately N40 trillion as of 2023, according to official state data.

Stakeholders at the event, including representatives from the financial sector, development partners, and the organised private sector, pledged support for the successful implementation of the policy.

The government reaffirmed its commitment to ensuring that the blueprint translates into measurable outcomes, including job creation, increased productivity, and a more resilient and diversified economy.

The Lagos State Industrial Policy 2025–2030 is expected to serve as a critical instrument in driving long-term industrialisation, positioning the state as a competitive player in regional and global markets.