Babajide Olusola Sanwo-Olu-led Lagos State Government has reaffirmed its commitment to economic diversification through policies that support growth across multiple sectors of the economy.
Eko Hot News reports that the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada Ambrose, made this known during the second edition of the India Trade Expo.
Speaking at the event, the commissioner highlighted several sectors identified by the state government for economic expansion and investment opportunities.
She noted that the administration is focused on strengthening industries such as manufacturing, digital technology, agriculture value chains, sustainable energy, healthcare management, financial services and the creative economy.
According to her, these sectors provide significant opportunities for investors seeking to establish or expand operations in Lagos.
Ambrose explained that companies from India possess expertise that aligns with the state’s development priorities.
She added that Indian investors have strong capabilities in technology, pharmaceuticals, manufacturing systems, infrastructure development and advanced services.
The commissioner emphasized that Lagos continues to position itself as a major economic hub in West Africa.
She stated that the government remains committed to creating a business-friendly environment that attracts both local and international investors.
Ambrose further explained that the state’s economic strategy aligns with national efforts to strengthen non-oil exports and diversify revenue sources.
Through the ministry, several initiatives have been launched to support small and medium enterprises in accessing global markets.
She disclosed that the ministry partnered with Afreximbank to train 252 small and medium-sized enterprises on export readiness.
The programme aimed to equip business owners with the knowledge and skills required to participate effectively in international trade.
Ambrose revealed that the 20 most outstanding trainees from the programme were sponsored to participate in the Intra-African Trade Fair 2025 in Algiers.
She noted that the exposure provided the entrepreneurs with opportunities to network with international buyers and investors.
According to her, such initiatives are designed to strengthen Lagos’ participation in global trade and support the growth of export-oriented businesses.
The commissioner described the India Trade Expo as an important platform for expanding economic engagement between Nigeria and India.
She noted that both countries share a long-standing history of trade and diplomatic relations built on mutual respect and economic cooperation.
Ambrose stated that Indian companies have contributed significantly to Nigeria’s industrial development over the years.
She highlighted sectors such as manufacturing, pharmaceuticals, agriculture processing and technology where Indian firms have made notable investments.
The commissioner explained that the expo offers a valuable opportunity to deepen collaboration between businesses from both countries.
She added that increased cooperation could lead to greater investment inflows, job creation and technological innovation.
Participants at the expo expressed optimism that the platform would encourage stronger partnerships between Nigerian and Indian companies.
They also noted that such engagements help promote trade, knowledge exchange and investment opportunities.
The Lagos State Government reaffirmed its readiness to continue supporting initiatives that attract foreign direct investment and strengthen the state’s economic competitiveness.
Officials believe that sustained partnerships with international investors will accelerate economic growth and support the long-term development goals of the state.
