Lagos State has reaffirmed its commitment to manufacturing, investment and sustainable economic development, with Commissioner for Commerce, Cooperatives, Trade and Investment Folashade Bada Ambrose-Medebem outlining the state's industrial policy and electricity reforms at the 54th Annual General Meeting of the Manufacturers Association of Nigeria.
Speaking at the Manufacturers Association of Nigeria's 54th AGM at the Lagos Oriental Hotel, Ambrose-Medebem said the state government aimed to create an enabling environment for manufacturing, investment and economic development. The meeting's theme was 'Leveraging National Industrial Policy to Position Nigeria as Africa's Industrial Hub.' She acknowledged MAN's contribution to policy development and Nigeria's productive capacity.
The commissioner identified exchange-rate volatility, inflation, high energy costs, infrastructure gaps and changing trade conditions as pressures facing manufacturers. She argued that responding to these constraints required sustained collaboration between government and industry, with public authorities creating conditions for business growth and manufacturers contributing expertise and practical insight to workable solutions.
Ambrose-Medebem outlined the Lagos State Industrial Policy 2025–2030 as a framework for strengthening manufacturing, encouraging innovation, supporting industrial clusters and promoting sustainable growth. She also highlighted the Lekki Deep Sea Port and Lekki Free Trade Zone as strategic assets supporting trade, logistics and industrial investment.
The commissioner discussed the Lagos State Electricity Law 2024, which established a framework for managing the state's intrastate electricity market. She identified the Lagos State Electricity Regulatory Commission, Lagos State Electrification Agency and Lagos State Independent System Operator as institutions with distinct responsibilities under the framework. She said improved power reliability was directly connected to manufacturers' production costs, competitiveness, job protection and growth planning.
MAN President Otunba Francis Meshioye said Nigeria's industrial ambitions depended on an operating environment that enabled firms to compete on cost, quality, standards, reliability and delivery. NIPSS Director-General Professor Ayo Omotayo also stressed that implementation mattered alongside policy design, arguing that manufacturing's contribution to GDP needed to increase for Nigeria to achieve its economic ambitions. The meeting reinforced the state's industrial policy direction, while practical gains will depend on execution and measurable improvements in the business environment.