Home » Africa: Lagos State Government Unveils Plan to Support Exporters, Aims to Become an International Trade Hub with New Export Promotion Policy

Africa: Lagos State Government Unveils Plan to Support Exporters, Aims to Become an International Trade Hub with New Export Promotion Policy

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The Lagos State Government has announced its plans to create an “Export Promotion Policy” designed to offer assistance to businesses engaged in exporting goods and services within the state.

According to punchng.com, speaking at the fourth 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.

READ: News: Netherlands Continues to Lead as Nigeria’s Top Export Destination in Q2 with N788.8 billion, representing 11.24% says Bureau of Statistics

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.

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