Lagos Targets 6 Sectors To Drive MSME Growth, Job Creation

The Lagos State Government has identified six priority sectors for investment and enterprise development as part of efforts to address Nigeria’s job creation crisis, expand business opportunities and support the growth of micro, small and medium enterprises (MSMEs).

The sectors are agro-processing, light manufacturing, healthcare, the creative economy, digital trade and the blue economy, according to the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada Ambrose-Medebem.

She disclosed this during the state’s celebration of International MSME Day in Lagos, where she highlighted the Lagos State Industrial Policy 2025–2030 as a framework for promoting industrial growth and creating opportunities for businesses to expand production, drive innovation and generate employment.

The initiative comes amid concerns over Nigeria’s job creation challenges, driven by rapid population growth, a large informal sector and weak private-sector expansion.

Ambrose-Medebem said the policy was designed to position MSMEs to participate in sectors with significant potential for production, innovation and employment.

As part of the state’s industrial development strategy, she disclosed that the 44-unit Imota Light Industrial Park was nearing completion.

She said the facility was expected to provide production space for businesses and support the expansion of manufacturing activities in the state.

The commissioner also urged businesses to look beyond the domestic market and take advantage of opportunities under the African Continental Free Trade Area (AfCFTA), which she described as a market worth approximately $3.4 trillion.

On export development, Ambrose-Medebem said the Lagos State Export Readiness Programme had trained 253 businesses to improve their preparedness for international trade.

She added that 20 top-performing enterprises were sponsored to attend the Intra-African Trade Fair in Algiers, where they secured export relationships.

Despite these initiatives, she acknowledged that inadequate business documentation, weak governance structures, inflation and high energy costs continued to constrain MSME growth and access to commercial financing.

To improve their prospects, Ambrose-Medebem urged entrepreneurs to formalise their businesses, invest in equipment and technology, meet relevant certification requirements and maintain proper financial records.

She said these measures would strengthen businesses’ ability to access finance and compete in export markets.

The commissioner also disclosed that the state was leveraging more than 16,000 registered cooperative societies operating through 24 Area Cooperative Offices to extend financial services to entrepreneurs who might otherwise struggle to meet conventional banks’ lending requirements.

She described cooperatives as an important channel for delivering capital, training and market access to small businesses.

According to her, their community-based structures could improve accountability and help entrepreneurs build the capacity needed to attract further investment.

Also speaking at the event, the Senior Special Assistant to Governor Babajide Sanwo-Olu on Commerce, Cooperatives, Trade and Investment, Nana-Hauwa Adeeyo, announced grants of up to N1 million each for five outstanding enterprises participating in the Fashion, Leather and Creative Enterprise Spotlight.

Adeeyo said the grants were part of the government’s efforts to translate business potential into measurable economic impact by supporting innovation, enterprise expansion and employment generation.

She also highlighted Lagos State’s emergence as the top-performing state in the 2026 Presidential Enabling Business Environment Council’s ease-of-doing-business rankings.

She attributed the achievement to reforms in infrastructure, digital service delivery, land administration and regulatory efficiency.

Adeeyo said government policies should be measured by their ability to remove barriers, reduce operating costs and expand opportunities for business owners.

She encouraged MSMEs to join cooperatives, access available financing and training programmes, and provide feedback to the ministry on challenges affecting their operations.

The Permanent Secretary of the ministry, Babatunde Onigbanjo, said the grants and awards presented to outstanding MSME operators were intended to recognise entrepreneurial achievements and provide seed capital for business development.