The Lagos State Government has attracted over $13 trillion in strategic global partnership deals over the past six years, aimed at bolstering infrastructural investments across critical sectors. Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, disclosed this during a ministerial press briefing on Governor Babajide Sanwo-Olu’s second term anniversary.
She highlighted that Lagos secured $4 million in Business Enabling Reforms (SABER) disbursements in 2024 and is targeting a total of $30 million by 2025. The state also finalized a $200 million partnership with Abu Dhabi Ports to develop the Lekki corridor, focusing on logistics, ICT, and healthcare. Additional trade missions and deals have been advanced with the United States, EU, G7, and Swedish firms to expand 5G broadband access.
Ambrose-Medebem emphasized Lagos’s improving business climate, citing a $50 million investment by the International Finance Corporation in the Lagos Free Zone and recognition from the Presidential Enabling Business Environment Council (PEBEC) as the South-West’s top reformer. An MoU with the Commonwealth Enterprise and Investment Council also positions Lagos as a trade gateway for 56 nations.
Efforts to strengthen industrial capacity continue with new small-scale industrial estates under construction in Ikorodu and rehabilitation plans for older estates across the state. On consumer safety, the government has sanctioned 35 supermarkets for selling expired goods and pledged to continue enforcing protective measures while pushing toward becoming a global smart-city hub.
