Lagos Launches 5-Year Industrial Policy for Growth

The Lagos State government has officially launched a five-year industrial policy covering the period from 2025 to 2030, with the goal of transforming Lagos into a leading industrial hub in Africa. The launch event took place at the Intercontinental Hotel in Victoria Island and was represented by Governor Babajide Sanwo-Olu and the Secretary to the State Government, Bimbola Salu-Hundeyin.

The policy is described as a strategic blueprint designed to reposition the Lagos industrial sector to remain competitive in a rapidly evolving global economy. It aims to tackle structural constraints, unlock new growth opportunities, and drive inclusive economic development across the state.

Governor Sanwo-Olu highlighted the need for Lagos to move beyond merely adapting to global competition, emphasizing innovation, efficiency, and resilience. Key pillars of the policy include infrastructure development, regulatory reform, improved access to finance, workforce development, and the promotion of innovation and sustainability.

The governor also stated that the state will expand industrial clusters and improve logistics and port efficiency to support small and medium-scale enterprises and integrate the region into global value chains.