Lagos to establish industrial innovation zone to boost local production

The Lagos state government says it is planning to establish an industrial innovation zone as part of efforts to boost local production and attract more investments into the state.

The government also reaffirmed its commitment to boosting investor confidence and improving the ease of doing business through a range of initiatives.

Folashade Ambrose-Medebem, commissioner for commerce, cooperatives, trade and investment, spoke on Tuesday at the Lagos 2025 ministerial press briefing held in Ikeja.

The briefing was held to commemorate the second anniversary of Babajide Sanwo-Olu, the governor of Lagos, second term in office.

Ambrose-Medebem said the planned innovation zone would serve as a hub for manufacturing, technology, and talent development, describing it as “a game-changer” for industrial growth in the state.

“Our goal is to create an enabling environment that builds investor trust and encourages citizens to support home-grown businesses,” the commissioner said.

”We are focused on driving investment to Lagos state both locally and internationally; so, we are putting all hands on deck to ensure ease of doing business in Lagos state.

“The innovation zone will be a game-changer, providing a hub for manufacturing, technology, and talent development.

“With the Lekki Deep Sea Port now operational, we are positioning Lagos as West Africa’s gateway for commerce.”

She urged residents to support the local economy by patronising locally-made goods, adding that the government is actively strengthening trade and bilateral relations with countries such as Germany, India and the United Arab Emirates (UAE).

Ambrose-Medebem said the partnerships are aimed at attracting investments and improving business processes across the state.

“We are deepening global partnerships to open new doors for local businesses and facilitate meaningful economic exchanges,” she said.

‘$4 MILLION SECURED THROUGH SABER INITIATIVE’

The commissioner said Lagos secured over $4 million under the World Bank-supported state action on business enabling reforms (SABER) programme, adding that the fund is being used to address bottlenecks in the business environment.

She said the government has also engaged with diaspora business leaders and business membership organisations to drive development.

“The SABER initiative has equipped us with resources to remove bottlenecks in our business environment,” she said.

“Our ongoing engagements with key stakeholders reflect our collaborative approach to progress.”

Ambrose-Medebem said the state’s consumer protection agency received 1,678 complaints in the past year, with 1,488 cases resolved, 23 referred, and 160 still pending.

“Consumer satisfaction is a top priority. These numbers show that we are actively protecting residents’ rights while holding service providers accountable,” she said.

The commissioner added that the ministry is laying the groundwork for an industrial policy that will deliver short, medium, and long-term results.

According to the official, the government aims to create 50,000 direct jobs along the Lekki corridor and provide loans to selected micro, small and medium enterprises (MSMEs) and cooperatives through the Lagos state micro-enterprise and cooperative initiative.

Ambrose-Medebem said the Lekki corridor has vast potential, adding that the government is determined to harness it for the benefit of residents.