Lagos State Government Rallies Lekki Economic Zone Stakeholders for Rapid Growth

The Lagos State Ministry of Commerce, Cooperatives, Trade, and Investment (MCCTI) has brought together key stakeholders and investors in the Lekki Economic Zone (LEZ) to drive rapid economic expansion. In a landmark event, a Memorandum of Understanding (MoU) was signed between Lekki Worldwide Investment Limited (LWIL)—representing the Lagos State Government—and major enterprises including Lekki Free Zone Development Company (LFZDC), Lagos Free Zone, Dangote Enterprise Zone, Alaro City, and Lekki Ports.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Ambrose, described the collaboration as a historic milestone that fosters economic synergy. She emphasized that the initiative aims to unlock the full potential of the Lekki Economic Zone, attracting local and international investors while transforming Lagos into West Africa’s leading industrial hub.

“This partnership marks a new era of economic transformation. By breaking down barriers and uniting enterprises, we are accelerating the Lekki Economic Zone’s development, fostering innovation, and creating a business-friendly environment,” Ambrose stated.

Strategic Growth and Infrastructure Development

The MoU aligns with Lagos’ vision to make the Lekki Economic Zone a global center for manufacturing, logistics, trade, and industrialization. Through enhanced infrastructure development, transportation networks, and streamlined regulatory processes, the zone is poised to attract more foreign direct investment (FDI) and stimulate job creation.

As part of this transformation, the Lagos State Government has introduced Operation Quadrant Ignite (OQI)—a strategic initiative to expand industrial capacity, modernize infrastructure, and enhance investment opportunities in the region.

Lagos Free Zone Secures $50M IFC Investment to Drive Economic Expansion

Lagos Industrial Policy (LSIP) 2025–2030: A Blueprint for Economic Growth

To further strengthen its position as Africa’s leading economic hub, Lagos is set to launch the Lagos State Industrial Policy (LSIP) 2025–2030. This policy aims to:

• Expand industrial zones and boost manufacturing capacity
• Improve transport and power infrastructure to support industrial growth
• Streamline business regulations and fast-track investment approvals
• Encourage diversification beyond oil, tapping into Nigeria’s talent pool

Speaking at the Lagos Design Week 2025, Ambrose reiterated that LEZ’s transformation aligns with Governor Babajide Sanwo-Olu’s commitment to fostering a thriving, diversified economy. She highlighted that Lagos GDP has surged from N27 trillion to N41 trillion in four years, reflecting the state’s rapid industrial expansion.

A Future-Ready Investment Destination

The Lekki Economic Zone is fast becoming Africa’s premier destination for investment, providing a world-class business ecosystem. Through strategic partnerships, cutting-edge infrastructure, and a pro-business government, Lagos is setting the stage for sustained economic prosperity.

With the continued collaboration of government agencies, private enterprises, and global investors, the Lekki Economic Zone is poised to reshape Nigeria’s industrial landscape and drive long-term economic growth.