Sanwo-Olu tells trade fair investors: make goods in Lagos, don't just sell here

Lagos Governor Babajide Sanwo-Olu has asked foreign companies attending the 40th Lagos International Trade Fair to go beyond selling their goods in the state and start producing them there too.

The governor, who was represented by the commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, spoke as the fair opened on Friday at Tafawa Balewa Square. He asked exhibitors to put money into factories, share skills with local firms and buy from Nigerian suppliers.

His message matters for ordinary Lagosians because factories set up locally tend to mean jobs, and goods made closer to home can cost less than imports.

What the governor wants from investors

Sanwo-Olu said partnerships with Nigerian businesses could create value in manufacturing, food processing, logistics and technology. He asked investors to think about producing in Lagos for the long term, not just bringing in goods to sell.

He said the state wants companies to set up regional bases in Lagos and use it as a gateway to West Africa and the wider continent. He pointed to the African Continental Free Trade Area, a market of about 1.4 billion people, as an opening for firms that can meet standards and produce at competitive prices.

The governor listed rail lines, road and transport projects, the state's electricity law and digital infrastructure as efforts to make business easier. He said Lagos placed first in the 2025 Subnational Ease of Doing Business Report by the Presidential Enabling Business Environment Council, with a score of 85.6 percent. He added that companies still struggle with energy, finance and logistics.

He also mentioned the Lagos State Industrial Policy 2025-2030 and an export readiness programme run with the African Export-Import Bank and ImpactHer, which he said has helped 253 small and medium businesses get ready for foreign markets.

Businesses want stable rules

Leye Kupoluyi, president of the Lagos Chamber of Commerce and Industry, which organises the fair, said Nigerian businesses keep showing resourcefulness. But he said they need dependable electricity, affordable finance, working ports and transport links, simpler regulations and policies that do not keep changing.

"The test of economic reform is its effect on everyday business operations," Kupoluyi said.

He said this year's fair, themed "Connecting Businesses, Creating Value," expects more than 1,000 exhibitors from several countries in Africa and beyond. An Africa Hall backed by Afreximbank and ECOWAS is meant to boost trade within the continent, and JETRO has confirmed more than 100 Japanese exhibitors.

Kupoluyi said a survey before the fair found that building booths alone put millions of naira into the local economy and employed hundreds of artisans.

What happens next depends on whether exhibitors turn contacts into orders and investments. The governor said the fair's success should be judged by the deals, jobs and business relationships it produces, not by attendance alone.