…unveils Industrial Policy 2025–2030

The Lagos State Government on Thursday unveiled its Industrial Policy 2025–2030 in Lagos, with Governor Babajide Sanwo-Olu leading government officials, diplomats and industry leaders at the event, outlining plans to transform the state’s industrial sector, attract investment and improve economic outcomes for residents.

Speaking through the Secretary to the State Government, Barrister ‘Bimbola Salu-Hundeyin, Sanwo-Olu said the policy responds to shifting global industrial trends and the need for Lagos to stay competitive as Nigeria’s commercial hub and a key 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.”

The governor explained that the policy aligns with the state’s T.H.E.M.E.S. Development Agenda and the Lagos State Development Plan 2052, focusing on building a modern economy driven by innovation, infrastructure and sustainability.

He added that the framework prioritises industrial infrastructure, regulatory reforms, access to finance, workforce development, and the adoption of technology.

“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.

Sanwo-Olu noted that the policy also supports Nigeria’s commitments under the African Continental Free Trade Area (AfCFTA), positioning Lagos as a hub for industrial expansion and global competitiveness.

A representative of the Federal Ministry of Industry, Trade and Investment said the Lagos policy aligns with the National Industrial Policy, translating federal priorities into state-level actions.

“By focusing on a competitive and productive industrial base, Lagos is providing a practical model that supports the Federal Government’s objectives of job creation and poverty alleviation through industrial growth.

“The Federal Ministry of Industry, Trade, and Investment views Lagos State as a critical partner. We recognize that for Nigeria to achieve true industrialisation, we must focus our attention on strengthening infrastructure and others as reflected in the LSIP,” he said.

Also speaking, Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described the policy as a commitment between the government and residents.

“To the captains of industry in this hall, the State has done its part. Bring your capital, your capacity, and your conviction, and Lagos will reward each of them. To our partners in the financial sector, we say this.

“Lagos is, today and for the foreseeable horizon, the highest-yielding industrial portfolio on this continent. Price it accordingly. Allocate to it accordingly. Underwrite it accordingly.

To the academic community, we say this. Build with us the talent pipelines that this policy will demand, for an industrial strategy without skilled hands is a strategy on paper alone, and we did not labour over this policy to leave it on paper.

To our friends in the development sector, we say this. Lagos is ready, more than ready, to convert technical assistance into measurable industrial output, and to do so on timelines that will repay your patience.

To our brothers and sisters in the diaspora, we say this. The home you carry in your hearts is now ready for the investment you carry in your hands. Come home to invest. Come home to build. Come home to Lagos.”

Copyright © 2026 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).