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The Lagos State Government, through the Ministry of Commerce, Cooperatives, Trade, and Investment, has launched a new industrial policy aimed at fostering a sustainable industrial environment within the state. The initiative was announced by the State Commissioner, Folashade Ambrose, during the Lagos State Industrial Policy Consultative Assembly and Validation Workshop at Alausa, Ikeja.
Ambrose highlighted the necessity to align the state’s industrial policies with both domestic needs and international best practices, emphasizing that the world is moving toward a new era driven by technology, sustainability, and global competitiveness. She mentioned that the new industrial policy, spanning from 2025 to 2030, would be a key document in making Lagos a hub of industrial excellence, where businesses thrive, investments flourish, and job creation is maximized.
The COVID-19 pandemic exposed vulnerabilities in global supply chains, underscoring the need for stronger local production capacity. Ambrose stressed that Lagos, as Nigeria’s commercial capital, should lead in creating a self-sufficient, innovative, and globally competitive industrial ecosystem, leveraging the state’s human capital, geographic advantage, and entrepreneurial strength.
Ambrose also reaffirmed the commitment of Governor Babajide Sanwo-Olu’s administration to drive a technology-driven economy and a sustainable, climate-resilient state. The assembly was presented not only as a meeting but as a call to action to shape the future of Lagos’ industrial sector.
Guest speaker Reuben Bamidele, National Programme Officer at UNIDO, emphasized the importance of sustainability, innovation, and global best practices in developing a resilient industrial landscape. He lauded Lagos for its focus on policy-driven industrialization and suggested more efforts in promoting public-private partnerships in green industrialization, environmental sustainability, and circular economy, while enhancing industrial energy efficiency and resource-efficient production.
In addition, Adeniyi Akinlusi, Managing Director of Lekki Worldwide Investments Limited, referred to the assembly as a reaffirmation that Lagos is “ready for business.” He highlighted that a successful African strategy must include a Nigerian strategy, with Lagos at the forefront.
This initiative has been widely praised by attendees, who expressed support for policies that empower industries and businesses, strengthening the state’s economy.
#Fast TV
