Lagos State Government, yesterday, announced a N10 billion capital injection for cooperatives under a new access to finance programme, as it aims to be the industrial capital of Africa with its industrial policy 2025-2030 documents.

The announcement was made during a media briefing ahead of the formal launch of the policy scheduled for Thursday, April 30, 2026, in Lagos.

The state’s Commissioner for Commerce, Cooperatives, Trade and Investment, Folasade Bada-Ambrose, said the policy represents a single coherent plan designed to drive industrial growth in Lagos State, across Nigeria and on the continent.

She said the policy would be delivered and not merely declared, with focus on infrastructure, supply chains, the regulatory environment and industrial clusters.

According to her, small and medium enterprises are central beneficiaries because they remain the backbone of the state’s economy.

She said the policy would provide technical assistance to help businesses grow, while also promoting innovation, technology adoption and human capital development through partnerships with universities, polytechnics and research institutes.

Meanwhile, at the centre of the announcement were three live programmes linked to the policy rollout. The first is the Lagos State Access to Finance for MSMEs through Cooperatives, known as LASMECO, being implemented in partnership with the Bank of Industry (BoI).

Under the initiative, N10 billion will be disbursed as capital support to cooperatives, with the first tranche expected to reach beneficiaries within weeks.

The second programme is the Imota Industrial Park, which the commissioner described as a live industrial park project comprising 44 industrial estates designed to provide affordable spaces and a conducive environment for manufacturers in Lagos.

The third is the Invest in Lagos Summit 3.0, scheduled for June 8 and 9, 2026, at the Convention Centre, Eko Hotel, in partnership with the Commonwealth Enterprise and Investment Council. The summit is expected to bring together investors, businesses and policy stakeholders to deepen industrial opportunities in the state.

Bada-Ambrose said the industrial policy is structured to tackle longstanding challenges affecting enterprise growth while creating a practical framework for productivity, competitiveness and sustainable industrial development.