In a move to boost its non-oil export sector, the Lagos State Government, in partnership with the African Export-Import Bank (Afreximbank), has trained 253 entrepreneurs as part of the Lagos State Export Readiness Programme (LASERP).
From this group, 20 “Trade Champions” were chosen to represent the state at the Intra-African Trade Fair (IATF) 2025 in Algiers.
At the programme’s closing ceremony, Lagos State Governor, Babajide Sanwo-Olu, who was represented by his Special Adviser on Works, Adekunle Olayinka, hailed the graduates as a “new generation of exporters.”
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He emphasised that the initiative’s goal is to diversify the state’s economy beyond oil and solidify Lagos’s position as a major African trade hub.
The governor stated that Lagos currently contributes over 60% of Nigeria’s non-oil exports, which totalled US$5.3 billion in 2024.
He projected that the newly trained cohort of SMEs will add an extra US$1 billion in foreign exchange inflows annually over the next five years.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, praised the collaboration between the Lagos State Ministry of Commerce, Afreximbank, and ImpactHER.
He noted that the programme aligns with the federal government’s broader agenda to increase non-oil exports and enhance Nigeria’s global competitiveness.
Also, Folashade Ambrose-Medebem, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, described the graduates as a “movement of exporters, innovators and pioneers.”
She asserted that through programs like LASERP, Lagos is transforming its SMEs from “local champions” into “global competitors.”
The Regional Chief Operating Officer of Afreximbank, Allain Thierry Mbongue, echoed this sentiment, calling the entrepreneurs “future exporters” who will contribute to Africa’s economic story under the African Continental Free Trade Area (AfCFTA).
The CEO of ImpactHER, Efe Ukala, highlighted the training’s focus on digital transformation, with participants receiving support for website development, digital marketing, and access to single-digit interest loans.
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Kofo Akinkugbe, Managing Director of SecureID, and Weyinmi Eribo, Managing Partner at Zenforte Partners, also provided advice to the graduates on the importance of quality, resilience, and collaboration in securing their place in the global market.
