Lagos set to launch industrial policy to spur economic

By Lukman Olabiyi

Lagos State Government has announced plans to unveil the Lagos State Industrial Policy (LSIP 2025–2030) later this year, a strategic initiative aimed at revitalizing the state’s industrial landscape and positioning Lagos as Africa’s leading industrial hub.

Speaking at a press conference, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose, described the upcoming policy as a transformative roadmap designed to boost industrial productivity, attract targeted investments, and enhance the global competitiveness of Lagos-based industries.

The announcement was made ahead of two major events being organized in partnership with the United Nations System in Nigeria, the Lagos State Office of Sustainable Development Goals (SDGs), Sterling Bank, and Arise News.

The first of the events, Lagos Investment Summit 2.0, is set for Wednesday, July 9, followed by the Africa Social Impact Summit (ASIS) on Thursday, July 10, and Friday, July 11, 2025.

Both summits, according to Ambrose, are aligned with the Lagos State Development Plan (LSDP 2052), which outlines a long-term vision for transforming Lagos into a 21st-century economy.

“Themed ‘Scaling Action: Bold Solutions Towards Making Lagos a 21st Century Economy’, Lagos Investment Summit 2.0 is focused on transitioning from planning to execution.

“It will showcase the vast investment opportunities in smart city solutions, green energy, digital and civil infrastructure, fintech, and agribusiness. Our goal is to shift from dialogue to delivery,”Ambrose said.

She emphasized that the summit will gather investors, development partners, policymakers, and industry experts for practical, results-oriented engagements. Commenting on the ASIS, Ambrose noted that the summit will address structural inequalities and reimagine financial flows at the sub-national level, with a strong emphasis on ESG standards, health equity, and long-term investment.

She described ASIS as “Africa’s premium platform for accelerating progress towards the Sustainable Development Goals (SDGs).”

Dr. Oreoluwa Finnih, Special Adviser to the Governor on SDGs, also expressed strong support for the initiatives. She stressed that both summits are fully aligned with the SDGs and represent a significant move towards sustainable development and long-term prosperity for Lagos and the African continent.