Lagos Adopts New Industrial Policy For Global Competitiveness—-The Lagos State Government says it is commitment to fostering a vibrant, sustainable, and resilient industrial landscape that is innovative, inclusive, and globally competitive.
The state’s Commissioner for Commerce, Cooperatives, Trade, and Investment, Ms Folashade Ambrose, said this on Monday during the Lagos State Industrial Policy Consultative Assembly and Validation Workshop, organised by the ministry in Alausa.
According to him, it is important for state to recalibrate its industrial policies to align with both domestic imperatives and international best practices as the world transitions towards a new era.
She added that the new era of economic modernisation is driven by technology, sustainability, and global competitiveness,
“Today’s assembly speaks to our commitment to creating an enabling business environment that encourages sustainable investment, infrastructure development, and industrial growth.
“These pillars are essential to achieving the objectives outlined in the State’s major development policy documents; T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan (LSDP 2052).
“Industrial Policy (2025-2030) is a defining document – one that signals our readiness to elevate Lagos into a hub of industrial excellence, where businesses can thrive, investments can flourish, and job creation can be maximised,” she said.
According to her, the disruptions caused by the COVID-19 pandemic exposed vulnerabilities in global supply chains and highlighted the need for stronger local production capacity.
Ambrose added that, as the state navigates the challenges and opportunities of a post-pandemic global economy, industrial policy must be viewed as a strategic tool for economic resilience.
“Lagos State has long been the cornerstone of Nigeria’s economic advancement, acting as the gateway to trade, commerce, and industrialisation for the nation and beyond.
“As Nigeria’s commercial capital, the state must lead the charge in developing a self-sufficient, innovative, and globally competitive industrial ecosystem – one that leverages our vast human capital, geographic advantage, and entrepreneurial strength,” she said.
Describing Lagos as the future-ready economic giant, she affirmed that Lagos is a city, with ambitious goals to become a globally competitive industrial hub.
She added that Lagos wants to be a technology-driven economic powerhouse, a sustainable and climate-resilient mega city and Africa’s most prosperous and industrially advanced state.
“This is why the policy is not being developed in isolation but strategically aligned and firmly anchored within the frameworks of extant developmental policy documents of the State.
“It will serve as a critical component of the broader strategy to position Lagos as a globally competitive industrial hub.
“It provides the guiding principles that ensure Lagos industrial transformation is not only robust and forward-thinking but also sustainable, inclusive, and deeply rooted in social equity,” she said.
Meanwhile, the Guest Speaker, Mr Reuben Bamidele explained the importance of sustainability, innovation and global best practices in shaping a resilient and competitive industrial landscape.
Bamidele, also the National Programme Officer, United Nations Industrial Development Organisation (UNIDO) lauded the Lagos State’s commitment to policy-driven industrialisation.
He emphasised that a robust framework, aligned with international standards, would foster inclusive growth, attract investment and enhance industrial productivity.
“The Lagos State Government has been recording great traction in the area of facilitating the ease of doing business and implementing smart city, climate-conscious manufacturing and digital transformation initiatives.
“More efforts should be devoted to promoting strategic public-private partnership in green industrialisation, environmental sustainability and circular economy, while incentivising Industrial Energy Efficiency (IEE) and Resource Efficient Cleaner Production (RECP), as part of key drivers of economic prosperity.
“In this era of Fourth Industrial Revolution, the state must encourage industrial production that leverage technology, industrial information and data, research and development, domestic and foreign business linkages and certification of artisans,” he said.
Similarly, Managing Director, Lekki Worldwide Investments Ltd, Mr Adeniyi Akinlusi, said that “capital is attracted to where it is welcomed and stays where it is respected”.
Akinlusi described the consultative assembly as a bold initiative and a re-affirmation by Governor Babajide Sanwo-Olu that Lagos is not only open for business, but ready for business.
“There is no African strategy without a Nigerian strategy, and there is no Nigeria strategy without a Lagos strategy,” he said.
Also, Ms Moyomade Akinbusoye, Business Executive, Institutional Banking, Sterling Bank Plc, commended Lagos State Government for its visionary initiative, saying such commitment to support policies that empower industries and businesses strengthens the economy.
“The refinement of the state’s industrial roadmap aligns with Sterling Bank’s strategic focus on industrial growth, economic empowerment and sustainable investments for national industrial growth,”
