Lagos Pledges Support for Exporters

The Lagos State Government has said it is working to develop an “Export Promotion Policy” aimed at providing support for companies exporting goods and services in the state.

Speaking at the 4th Business Roundtable and Exhibition organised by the Nigerian Association of Small and Medium Enterprises, Lagos State branch, in Ikeja on Tuesday, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, said the move would boost the state’s economy, create jobs and position the state as a hub for international trade.

She said: “As a state that thrives on innovation, trade and economic dynamism, it is our collective duty to ensure that Lagos continues to flourish, guided by a vision that resonates with every Lagosian.

“In this current dispensation, the administration of Governor Babajide Sanwo-Olu shall develop an Export Promotion Policy to provide support to companies exporting their products and services, which will boost our economy, create jobs and position the state as a hub for international trade.”

Ambrose-Medebem added that the state was considering financing options such as “gender bonds to support gender programming and green bonds to finance climate-resilient infrastructure” to help “fund critical initiatives and align with global sustainability goals.”

The commissioner highlighted some of the state government’s intervention for MSMEs to include the disbursement of over N8.4bn to 12,710 MSMEs through the Lagos State Employment Trust Fund, which, according to her, helped them navigate the negative effects of the COVID-19 pandemic and other challenges.