Nigeria: Lagos govt moves to transform Lekki into Africa's premier destination for trade

Zawya

26-02-2025

Lagos State Government on Tuesday, formally unveiled Operation Quadrant Ignite (OQI), saying that through the bold initiative, it seeks to transform the Lekki Economic Zone (LEZ) into Africa's premier destination for manufacturing, trade, and investment.
The State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose, made this known while speaking at the Design and Innovation Exhibition organised by Design Week Lagos and held at Victoria Island, saying that the initiative stood at the core of Lagos State's industrialisation strategy.
The commissioner, while noting that Lekki had long been envisioned as the industrial nerve center that would accentuate Lagos' strategic location, abundant resources, and robust infrastructure, stated that it was a vision that is now being turned into reality through Operation Quadrant Ignite.
According to her, the state government will through this initiative be unlocking the full potential of the Lekki Economic Zone, ensuring that underutilised assets are repurposed and land use optimised for maximum productivity, pointing out that the transformation was not just about land development, about also about creating an integrated industrial ecosystem that fosters innovation, efficiency, and global competitiveness.
'Through this initiative, Lagos State Government, under the able leadership of Governor Babajide Sanwo-Olu, is unlocking the full potential of the Lekki Economic Zone, ensuring that underutilised assets are repurposed and land use is optimised for maximum productivity.
This transformation is not just about land development; it is about creating an integrated industrial ecosystem that fosters innovation, efficiency, and global competitiveness.
'A critical pillar of Operation Quadrant Ignite is the establishment of a Catalytic Fund, designed to provide targeted financing for industrial projects with high growth potential.
'By attracting investment from Development Finance Institutions (DFIs), private equity firms, and venture capitalists, this fund will serve as a catalyst for industrial expansion, enabling businesses to scale rapidly while ensuring that local enterprises are not left behind in the process,' she stated.
The commissioner further stated that Operation Quadrant Ignite ((OQI) leverages the strategic importance of the Lekki Deep Sea Port, positioning Lagos as a hub for export-driven manufacturing, adding that it also seeks to integrate efficient logistics, world-class port facilities, and seamless trade.
She maintained that Operation Quadrant Ignite was more than a policy, saying that through this initiative, Governor Babajide Sanwoo-Olu's administration was not just envisioning a more prosperous Lagos, but actively building it.
'We recognise infrastructure as the backbone of industrial growth that will enable Lagos-based industries to compete effectively in the global market, ensuring that locally manufactured goods reach international consumers with speed and efficiency. This initiative prioritises the development of world-class road networks, reliable energy supply, and digital connectivity, providing industries with the essential infrastructure they need to thrive, and reinforcing Lagos's reputation as the preferred destination for industrial investments in Africa.
'Operation Quadrant Ignite is more than a policy; it is a commitment; a commitment to sustainable industrial growth, a commitment to unlocking economic potential, and a commitment to positioning Lagos as a global leader in industrialisation. Through this initiative, the Sanwoo-Olu's administration is not just envisioning a more prosperous Lagos, we are actively building it,' the commissioner said.
Ambrose assured that the industrial transformation of Lagos was well underway, noting that the opportunities ahead were limitless, just as she enjoined stakeholders, investors, and partners 'to join in this bold journey that will ensure Lagos remains the heartbeat of Africa's industrial evolution.'
The Managing Director, Lekki Worldwide Investments Limited, Adeniyi Akinlusi, described Lekki Economic Zone as the location of leading enterprises and manufacturing concerns that were setting the pace in Nigeria's industrialisation trajectory.
Akinlusi said the Lekki Economic Zone holds considerable potential, pointing out that it had a great role to play in bid for Lagos to set the pace in the new frontier of African industrialisation.
Founder, Design Week Lagos, Titi Ogunfere, described the gathering as not just another exhibition but a bold statement about the future of Nigeria's industrial and manufacturing sectors.
'As we stand at the crossroads of transformation, we recognise that true economic progress is driven by design, manufacturing, and innovation. The nations that have led the world – whether through technological revolutions or manufacturing excellence – have been built by design.
'History has shown us that design and industrialisation go hand in hand. Today, Nigeria stands at that same inflection point. We are a nation rich in talent, resources, and ideas, and as seen in this exhibition, the potential for design-led manufacturing is immense. The products showcased here – from furniture and industrial design to product invention – have proved that we have the creativity, skill, and vision to compete on a global scale.
'But potential alone is not enough. To move from vision to reality, we must create the right policies, infrastructure, and business environments that empower designers, manufacturers, and entrepreneurs to produce at scale – not just for local markets but for export.
'That is why today's discussions on industrialisation and investment are so critical. The Lekki Free Trade Zone and other industrial hubs offer an unparalleled opportunity to develop a Made-in-Nigeria export economy, but this requires collective action. We must bridge the gap between designers and manufacturers, ensuring that ideas do not remain concepts but become tangible products,' she said.
The event also had a panel of rich resource persons comprising the Director General, Manufacturing Association of Nigeria, MAN, Mr Segun Ajayi-Kadiri; Managing Director, Alaro City, Yomi Ogunmola; Founder/Chief Responsibility Officer, Ruff 'N' Tumble, Adenike Ogunlesi and Deputy Managing Director, Lekki Free Zone Development Company, Bolatito Ajibode.
Others are the Group Finance Director, Tolaram Group, Mineshaft Rathi; Industrial Policy Commission Facilitator/National Practice Lead, Nigeria Economic Summit Group, Muda Yusuf; and CEO, Commercio Partners Asset Management, Tosin Osunkoya.