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As part of intensified effort towards achieving $1trn economy, the Lagos State Government has perfected plans to unveil a new industrial policy that encourages sustainable investment, infrastructure development.
Mrs. Folashade Kaosarat Bada Ambrose ,the Honourable Commissioner, Commerce, Cooperatives, Trade and Investment, Lagos State, while speaking at the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA) Roundtable Meeting on Trade and Export Competitiveness on Tuesday in Lagos, noted that targeted industrial policy must guide national efforts, with clear designation of export priority sectors such as shea, cocoa, lithium, textiles, and petrochemicals.
According to her; “These sectors should be supported through tax incentives, subsidised power, and dedicated industrial clusters.
The shea industry provides a clear example. Nigeria supplies 40 percent of global raw shea nuts yet captures only 1 percent of the global market value.
With coordinated policy, processing zones can be established, financing made accessible, raw exports regulated, and Nigerian shea products positioned competitively on the global stage. This challenge is not about resources, but about coordination.
“In Lagos State, we are proud to announce that we are aligning with the Federal Government in the area of industrial policy. Following the successful launch of the national industrial policy recently, the Lagos State Industrial Policy, LSIP, will also be launched at the end of this month of April, 2026.
“The LSIP underscores the state’s commitment to creating an enabling business environment that encourages sustainable investment, infrastructure development, and industrial growth – pillars that are essential to achieving the objectives outlined in the State’s major development policy documents; T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan (LSDP 2052). It aims to recalibrate the State’s industrial policies to align with both domestic imperatives and international best practices. I hereby call on other states to also align for effective and efficient implementation of the national industrial policy.”
She noted that Lagos is already working ahead for the Intra-African Trade Fair in 2027, adding that it requires full domestication of the African Continental Free Trade Area Agreement (AfCFTA).
“As we look ahead to the Intra-African Trade Fair in 2027, Lagos will stand before the continent and the world not merely as a host, but as a statement that Nigeria is ready. However, readiness is not a slogan; it is a system.
Achieving this system begins with policy alignment.
“Our policies can no longer operate like isolated islands; they must function as a coordinated engine. This requires the full domestication of AfCFTA across all states, where each state establishes an implementation desk that translates federal trade policies into actionable strategies at the local level. States must leverage their comparative advantages, whether in agro-processing, manufacturing, logistics, or services”.
“Export incentives must also be reformed to prioritise value addition. A company exporting processed cocoa products should receive greater support than one exporting raw beans. Regulatory harmonisation is equally critical. Agencies must adopt shared digital compliance systems so that certifications are recognised across all ports and aligned with continental trade frameworks.” She stressed.
“Again, Lagos State has set an example with the launch of a N10 billion non-collaterised loan, at single digit interest rate, for cooperative-based MSMEs to access finance of up to N10 million, with repayment period spanning up to three years.
“Small producers must aggregate to meet large international demands, whether in agriculture or manufacturing. The cocoa value chain illustrates this opportunity clearly. Instead of exporting raw cocoa, Nigeria can invest in processing hubs, partner with global firms for technology transfer, and build indigenous brands that compete regionally and globally. Excellence in exports is not accidental; it is built through deliberate systems, skills, and scale.” The Commissioner alluded.
Earlier in his welcome address, the National President of NACCIMA, Engr. (Dr.) Jani Ibrahim noted the theme “Unlocking Nigeria’s Export Potential: Policy Alignment, Private-Sector Readiness, and Trade Facilitation”, was timely.
Represented by the National Vice President of NACCIMA, Alhaji Yaya Oladimeji, who also doubles as the President of Badagry Chambers of Commerce, he said Export is evolving significantly from heavily dominated crude oil expot to diversified expot products.
According to him; “We gather at a time when Nigeria’s export narrative is evolving significantly from one heavily dominated by crude oil to a broader, more diversified trade footprint that reflects the ingenuity and resilience of our private sector.
“Recent trade data shows that Nigeria’s non-oil exports climbed to approximately $6.1 billion in 2025, marking an 11.5 % year-on-year growth and representing the highest non-oil export value ever recorded in the nation’s history.
“In naira terms, non-oil exports hit a record N9.2 trillion in the first nine months of 2025, up 48 % compared to the same period in 2024, underscoring how our producers and exporters are responding to improved price incentives and expanded market access.
“These gains reflect concrete progress in sectors such as agriculture, processed goods and solid minerals with exports spanning over 280 products and total non-oil export volumes climbing to over 8 million metric tonnes.
“Nigeria’s geographical export profile is also shifting. While traditional markets in Europe and Asia remain significant, African markets have emerged as major destinations for Nigerian goods. In 2024, Africa collectively accounted for roughly N8.74 trillion in exports, with intra-ECOWAS trade representing a growing share of this activity.
“Furthermore, exports to African countries climbed by 14 % in the first half of 2025, with West Africa absorbing over 62 % of those goods, reflecting strengthening regional trade momentum and the early impacts of AfCFTA implementation.”
He stated that export growth requires stable, predictable, and coordinated policies across trade, finance, taxation, customs administration, standards, infrastructure, and industrial development, adding that fragmentation slows progress; alignment accelerates it.
“We must ensure that national strategies are harmonized with implementation frameworks, and that regulatory processes are efficient, transparent, and business-friendly.
“Our businesses especially MSMEs must be equipped to meet international standards in quality, packaging, certification, and traceability. They must have access to affordable finance, reliable infrastructure, market intelligence, and capacity-building support. Export competitiveness is not accidental; it is built through deliberate investment in knowledge, innovation, and productivity.
“Time is money in global commerce. Efficient ports, simplified customs procedures, digitalized documentation systems, and seamless border operations are critical to reducing the cost of doing business. If Nigerian products are to compete globally, we must reduce domestic bottlenecks that erode margins and discourage exporters.
“NACCIMA remains committed to advancing these three pillars and to creating platforms where government and business can engage constructively, align priorities, and turn export opportunities into socio-economic impact.
“We must also leverage regional frameworks such as the African Continental Free Trade Area, which presents one of the largest integrated markets in the world. By deepening our participation, Nigeria can secure preferential market access, diversify export products, and build stronger value-chain linkages across the continent.” He averred.
In his presentation, titled “The Three Pillars of Transformation”, Mr Taiwo Ajetunmobi, Head, Investment and Management, Nigerian China Trade Partnership at the office of the President noted that
Nigeria’s export ambitions cannot succeed when policy signals as nited exporters need clarity, predictability, and coordination, adding that Nigeria is already moving in the right direction.
Ajetunmobi noted that Nigaria has gazetted AFCFTA Provisional Schedule of Tariff Concessions, enabling preferential continental trade-unlocking a market of 1.5 billion people and a combined GDP of $3.4 trillion.
On 2026 Fiscal Policy and Tariff Amendments, which is aimed at boosting local production he noted that the government has imposed tariff of between (0%-400%); for a list of 197 import goods, adding that the National List has 127 items and 125 with reduced import duties to stimulate critical sectors of the economy.
He stated that the Federal Government has introduced Green Tax Motor, which is for electric vehicles, pointing out that Import Prohibition 115 tems across 17 categories has been captured.
He emphasised that weak access to working capital and sort finance constraints to SME Growth, stressing that poor aggregation and logistics, fragmented supply chains and warehouse receipt stems and low export scale were hindrances to trade.
He explained that Weak Market Intelligence was a great hindrance to trade, saying that limited access to digital market intelligence and sector-specific guidance was a necessity.
According to him; “Speed Is Now a Competitive Advantage. Propeling Nigeria to a global supply chain hub and export hub into Africa requires that we focus on: National Single Window, Robust execution fores, streamlined cargo clearance. End-to-End Automation, Digtizing processes across ALL Agencies and eliminate manual processes. Harmonized risk-based Inspections, Implementing risk-based approaches to reduce delays and ensure consistency. Digital AfCFTA Certificates, and Compillyling rules-of-origin for eficient preferential trade within Africa.”
