Follow Us on Google
By Merit Ibe
Lagos Governor Babajide Sanwo-Olu has said the state government, in partnership with the Lagos Chamber of Commerce and Industry (LCCI), is building a new generation of tech-enabled enterprises positioned to compete on the global stage.
Speaking at the closing ceremony of the 2025 Lagos International Trade Fair, the governor said Lagos is rapidly evolving into a technology-friendly economy through massive fibre-optic deployment, startup support initiatives, and policies that prepare businesses to benefit from the African Continental Free Trade Area (AfCFTA).
“Through collaboration with institutions like the LCCI, we are nurturing tech-driven enterprises ready to take on global markets,” he said.
Sanwo-Olu noted that meaningful business connections create ripple effects across the economy, including job creation in manufacturing, data centres, and agro-industrial hubs.
He added that Lagos is empowering its youth with digital and entrepreneurial skills, strengthening value chains, and promoting shared prosperity.
According to him, Lagos State’s GDP has grown by nearly 50 percent in the last five years, now larger than the economies of over 40 African countries—driven by reforms that enhance the ease of doing business, attract investment, and expand technology adoption.
He stressed that the global business environment is becoming more competitive, and Lagos must accelerate its efforts. The governor pledged to continue streamlining regulations, expanding digital one-stop business platforms, and investing in core infrastructure such as roads, rail, logistics, and power.
Sanwo-Olu also reaffirmed support for Micro, Small and Medium Enterprises (MSMEs). He said the state will intensify collaboration with the LCCI to enhance small-business capacity, boost export readiness, and integrate Lagos-based enterprises into regional and global value chains. Sustainability, he added, will remain a key priority.
Other News
He commended the LCCI for its commitment to trade, innovation, and enterprise development.
Lagos Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada-Ambrose, described the 2025 fair as a celebration of the innovation, resilience, and entrepreneurial energy that define Lagos.
She said the theme, “Connecting Businesses, Creating Value,” reflects the essence of Lagos as a hub of ideas and opportunities. Over the 10-day fair, she noted, new partnerships were formed, innovations showcased, and sector-wide collaborations strengthened.
Bada-Ambrose highlighted a major milestone, the unveiling of the largest Lagos State pavilion ever mounted at the fair. The pavilion hosted a wide range of MSMEs across sectors such as agribusiness, fashion, manufacturing, and creative industries.
She said the structure served as more than an exhibition space; it demonstrated the government’s commitment to MSME empowerment and inclusive growth. Exhibitors gained access to potential investors, new markets, and digital platforms, with several onboarding to e-commerce and digital payment channels.
“These outcomes show that when MSMEs are given the right exposure and support, they can compete globally,” she said.
The commissioner added that the initiative aligns with the T.H.E.M.E.S.+ Agenda of the Sanwo-Olu administration and reinforces Lagos State’s commitment to building a vibrant, competitive, innovation-driven economy.
She said the fair showcased the power of connection between producers and consumers, government and private sector, and local enterprises and global brands. Every interaction, she said, contributes to a future of shared prosperity in Lagos.
