The Lagos State Government has reaffirmed its commitment to aggressive economic diversification, identifying manufacturing, digital technology, and sustainable energy as the primary frontiers for the state’s future prosperity.
The declaration was made by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, during the second edition of the India Trade Expo held in Lagos on Thursday.
Strategic Investment Frontiers
Addressing a gathering of international delegates and business leaders, the Commissioner emphasized that under the leadership of Governor Babajide Olusola Sanwo-Olu, the state is pivoting toward a non-oil dependent economy.
She highlighted several high-growth sectors ripe for collaboration, including manufacturing and agriculture value chains, digital technology and financial services, sustainable energy and healthcare management, and the creative economy
Ambrose-Medebem also noted that these areas present strong investment opportunities for Indian firms, particularly those with specialized expertise in pharmaceuticals, infrastructure development, and advanced services.
Boosting Local SMEs for Global Export
Beyond attracting foreign direct investment, the Commissioner revealed that the Ministry has initiated highly impactful projects to prepare local businesses for the global market.
In a strategic partnership with Afrexim Bank, the state recently completed the export readiness training of 252 SMEs. Highlighting the success of this initiative, she disclosed that the 20 most outstanding trainees were sponsored to attend the Intra-African Trade Fair (IATF) 2025 in Algiers, providing them with a platform to scale their operations internationally.
A Legacy of Bilateral Cooperation
The Commissioner praised the enduring relationship between the two nations, noting that Indian enterprises have long been a cornerstone of Nigeria’s industrial landscape.
“The India Trade Expo provides an excellent platform for deepening economic engagement between our two countries,” Ambrose-Medebem stated. “Nigeria and India share a long history of trade and diplomatic relations, built on mutual respect and shared economic interests. Over the years, Indian businesses have played a vital role in Nigeria’s industrial development, and this Expo offers a timely opportunity to strengthen investment cooperation in ways that will benefit both nations.”
The event concluded with a call for continued synergy to ensure that the strong foundation already in place evolves into a more robust, technology-driven partnership for the coming decade.
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