Lagos Plans New Industrial Estate To Boost Investment In MSMEs

Lagos Plans New Industrial Estate To Boost Investment In MSMEs
Lagos Plans New Industrial Estate To Boost Investment In MSMEs

A new industrial estate is springing up at Gberigbe, Ikorodu, Lagos, aimed at encouraging more investment in micro, small and medium scale enterprises (MSMEs) in the state, Lola Akande, commissioner for commerce, industry and cooperatives, disclosed on Sunday.

The small-scale industrial estate, according to Akande, is coming to complement existing small industrial estates like Isolo, Mushin, and Sabo in Ikorodu, and is a further demonstration of the state government’s resolve to continue to provide the enabling environment for businesses to thrive.

Apart from being home to thousands of MSMEs, Lagos is also Nigeria’s industrial/commercial hub, accounting for most of the quoted companies on Nigerian Exchange Limited (NGX) and a key contributor to the country’s gross domestic product (GDP).

“We remain committed to providing a conducive environment for the organised private sector (OPS) and other stakeholders through continuous engagement in the implementation of policies, regulations and projects as they impact the business prosperity of the state.”

“Also, to continue to complement the small-scale industrial estates at Mushin and Isolo as well as the industrial shed at Sabo in Ikorodu, plans are ongoing to develop a new small-scale industrial estate at Gberigbe, Ikorodu,” said Akande at the closing of this year’s edition of the Lagos exclusive MSMEs fair on Sunday.

She assured the business community of the state’s commitment to improving the business environment and making it more attractive for investors.

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Akande listed existing projects/programmes in aid of MSMEs in Lagos to include Eko MSMEs fashion hub established in collaboration with the Federal Government to boost the fashion and apparel industry.

“The e-commerce digital platform was created to showcase MSMEs products and services to the world and the establishment of Lagos State Export Promotion Committee to promote the marketability of locally made products.