LASG Unveils Plans for Industrial Innovation Zone

• The Lagos State Government has announced its intention to establish an industrial innovation zone to significantly enhance local production.
•  The briefing was held in commemoration of Governor Babajide Sanwo-Olu’s second year of his second term in office.
• She said that the ministry was laying strong foundations for an industrial policy designed to deliver results in the short, medium and long terms.

The Lagos State Government has announced its intention to establish an industrial innovation zone to significantly enhance local production.

Eko Hot Blog reports that during the Lagos State 2025 Ministerial Press Briefing, Mrs. Folasade Ambrose-Medebem, the state Commissioner for Commerce, Cooperatives, Trade and Investment, emphasized the government’s dedication to improving the ease of doing business and attracting investments through various initiatives.

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The briefing was held in commemoration of Governor Babajide Sanwo-Olu’s second year of his second term in office.

Ambrose-Medebem also disclosed that the government had commenced operations at the Lekki Deep Sea Port and urged residents to support the local economy by patronizing locally-made goods.

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

” 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 said.

The commissioner said that the state government had strengthened trade and bilateral relations with countries such as Germany, India and United Arab Emirates to attract investment and enhance business processes.

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

Highlighting the state’s financial achievements, she said that Lagos State secured over four million dollars under the World Bank-supported State Action on Business Enabling Reforms (SABER) initiative.

She added that the state engaged with diaspora and local business leaders, as well as business membership organisations, to further drive development.

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

“Our ongoing engagements with key stakeholders reflect our collaborative approach to progress,” the commissioner said.

She said that in the past one year, Lagos State Consumer Protection Agency received 1,678 consumer complaints, of which 1,488 were resolved, 23 referred and 160 were pending.

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

She said that the ministry was laying strong foundations for an industrial policy designed to deliver results in the short, medium and long terms.

According to the official, targets include creation of 50,000 new direct jobs on the Lekki corridor and disbursement of loans to some micro, small and medium enterprises and cooperatives through the Lagos State Micro-Enterprise and Cooperative Initiative.

“We are focused on job creation, enterprise support, and sustainable industrial growth.

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“The Lekki corridor holds massive potential, and we are committed to unlocking it for the benefit of our people,” the commissioner said.

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