At the opening ceremony of the 2025 Lagos International Trade Fair held on Friday, 7th November 2025, at the Banquet Hall, Tafawa Balewa Square, Lagos, Governor Babajide Olusola Sanwo-Olu reaffirmed Lagos State’s central role as a leading economic powerhouse in Africa. Addressing local entrepreneurs, investors, and international partners, the Governor welcomed participants to what he described as not just an exhibition, but “a marketplace of ideas and a crucible for partnerships that will define the economic future of our State and our nation.”
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The theme of this year’s fair, “Connecting Business, Creating Value,” reflects the identity of Lagos as a hub for enterprise, innovation, and growth. The Governor emphasized that Lagos is a “living economy” and “a microcosm of Africa’s entrepreneurial spirit,” where creativity and determination continue to drive commerce.
Highlighting Lagos’ economic significance, Sanwo-Olu noted that the State remains Africa’s second largest city economy, with an estimated GDP of US$259.75 billion as of 2023, contributing 30% of Nigeria’s GDP and over 50% of non-oil economic output. He described these figures as evidence of the resilience of Lagosians and the private sector players who sustain the economy daily.
Sanwo-Olu reiterated his administration’s commitment to building structures that support business growth. He highlighted reforms in business registration, trade documentation, and investment facilitation, alongside ongoing upgrades across critical infrastructure, including roads, rail lines, waterways, and logistics systems. The expansion of the Blue and Red Rail Lines, as well as the inland waterways revitalization, are designed to cut transportation costs and improve the flow of trade.
The Governor also announced the continued expansion of industrial clusters, including the Lekki Free Zone, Ibeju-Lekki Industrial Corridor, and Agbowa Timberville, which are fast becoming magnets for manufacturers, exporters, and service providers.
Central to his address was the government’s sustained support for Micro, Small and Medium Enterprises (MSMEs). Sanwo-Olu revealed that over 50,000 MSMEs had received financial support through schemes such as the Lagos State Employment Trust Fund (LSETF) within the last two years, with many now participating in export value chains. He referenced the recent Lagos-sponsored SME participation at the Intra-African Trade Fair in Algeria, where Lagos businesses gained visibility and commercial traction.
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Sanwo-Olu further announced that Lagos, backed by the Federal Government, has secured the right to host the continental trade fair in 2027, positioning the State at the center of intra-African trade under the African Continental Free Trade Area (AfCFTA).
On digital and energy infrastructure, the Governor noted major progress in the State’s 6,000 km Fiber Optic Project, aimed at democratizing digital access for businesses, as well as ongoing collaboration with the private sector on solar and off-grid solutions to reduce power costs for factories and communities.
Affirming the State’s policy ethos, the Governor stated that “confidence creates capital,” and emphasized transparency, fairness, and consistent stakeholder engagement as pillars of the State’s long-term development vision under the T.H.E.M.E.S Plus Agenda and the Lagos State Development Plan 2052.
He described the Lagos International Trade Fair as one of Africa’s most credible business platforms where “producers meet distributors, innovation meets investment, and vision meets validation.” He encouraged both local and foreign participants to connect, explore partnerships, and expand opportunities.
Declaring the fair open, Sanwo-Olu called for shared prosperity, inclusiveness, and active collaboration among governments, private sector leaders, and global partners. He expressed confidence that Lagos will continue to drive growth for Nigeria and the continent.
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“Lagos is ready to connect. Lagos is ready to compete. Lagos is ready to create value for Africa and for the world,” he said.
The Governor concluded by wishing exhibitors and visitors a productive and rewarding experience throughout the event.
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