Lagos State Government has successfully trained 253 Small and Medium Enterprises under its Lagos State Export Readiness Programne, LASERP, as it unveiled 20 outstanding Trade Champions to represent the State and showcase the best of Made in Lagos products in the Lagos Pavilion to be hosted at the Intra African Trade Fair, IATF, holding in Algiers in September.
Governor Babajide Sanwo-Olu described the unveiling as a new chapter in the story of Lagos enterprise at the graduation and closing ceremony of the programme held in Lagos on Friday.
Represented by his Special Adviser on Works, Dr. Adekunle Olayinka, the Governor remarked that the gathering was not merely to close a training programme; but to celebrate resilience, acknowledge courage, and commission a new generation of exporters who will carry the banner of Lagos into Africa and the world.
His words: “When LASERP was conceived, our vision was clear: to prepare Lagos entrepreneurs to compete beyond our shores, to diversify our economy away from the dominance of oil, and to entrench Lagos as the undisputed gateway of trade for Nigeria and the African continent. Today, as we witness the graduation of these exceptional SMEs, we see the manifestation of that vision.
“Our ambassadors are no longer just local champions – they are export-ready entrepreneurs, positioned to scale, to innovate, and to stand tall in regional and global markets. Already, Lagos contributes more than 60 percent of Nigeria’s non-oil exports, which stood at US$5.3 billion in 2024, and with this graduating cohort of over 250 SMEs, we project an additional US$1 billion in foreign exchange inflows annually within the next five years.
Minister of Finance/Coordinating Minister of the Economy, Mr. Wale Edun, represented by his Special Adviser on Communications, Media, and Publicity, Dr. Ogho Okiti, commended the visionary leadership of the State, particularly the Ministry of Commerce, Cooperatives, Trade and Investment, under Mrs. Folashade Ambrose-Medebem, for initiating LASERP.
“I also recognise the invaluable partnership of Afreximbank and ImpactHer in making this programme a success. This collaboration demonstrates the power of strategic partnerships in unlocking Nigeria’s economic potential. Export diversification is critical to Nigeria’s long-term economic growth. Programmes like LASERP directly support our broader agenda to grow non-oil exports, expand Nigeria’s global competitiveness, and strengthen women-led enterprises and SMEs. It will serve as a model for similar initiatives across Nigeria,” he said.
Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose expressed that the gathering was for more than a class of graduates, but to celebrate a movement of exporters, innovators and pioneers who will carry the Lagos spirit across Africa and into the world.
“Under the visionary leadership of Mr. Governor and Mr. Deputy Governor, Lagos has declared boldly: we will not be local champions; we will be global competitors. That is why LASERP was born. To move our SMEs from the streets of Lagos to the shelves of the world. To transform potential into performance. To prepare you not just to meet standards, but to set them. Already, Today is not just another day in our calendar. Today is history in motion. Today is vision becoming reality. Today is Lagos telling the world: we are ready, we are rising, we will lead,” she said.
Also speaking at the event, Regional Chief Operating Officer, Afrexim Bank, Allain Thierry Mbongue, affirmed that the programme has set off a new generation of export ready champions who will write the next chapter of Africa’s economic story. “By investing your time and energy, you have positioned yourself not only as business leaders in Lagos but as future exporters whose goods and services would soon carry the proud label; Made in Africa. At Afrexim Bank, we believe SMEs are not just the backbone of African economies, they are the engine that will power Africa’s economic future under AfCFTA. That is why the bank has laid strategic emphasis on SMEs development,” he said.
Founder/CEO, ImpactHER, Efe Ukala, revealed that the training focused on digital and brand transformation, as entrepreneurs were equipped with what they need to stand out in the digital export world. “During the training, we helped build websites, provided customised digital export marketing strategy, facilitated 5 percent single digit interest loan for participants – two out of which are being processed, as our participants shipped out over a dozen 20-foot containers of goods over the past 6 weeks while 10 businesses secured international trade certification – thus securing long term access to new markets,” she said.
According to Director, SME Development, Afrexim Bank, Ody Akhanoba, the training recognised the importance of SMEs to the African economy, and particularly to Lagos, which is the 5th largest economy in the continent. “I congratulate the SMEs that successfully participated in this programme, this is a testament to your aspiration that what you had was not enough and you devoted good time to acquire what you need to become future export champions. But this is not the end, you really need to leverage on your new skills, be resilient and collaborate to take your place in Africa and global marketplace where you belong. Africa industrial revolution rests on your shoulders,” he declared.
Sharing experiences with the graduands, Managing Director, Secure ID, Mrs. Kofo Akinkugbe, OON charged the graduands to rise above skepticism and remain resilient and committed to global standards, ensuring high quality products and compliance with international certifications. “Commitment to quality and global standards is crucial for entering new markets and gaining international recognition, while you need to start small, scale gradually, understand your target market and devise entry strategy,” she said.
Managing Partner, Zenforte Partner, Weyinmi Eribo, highlighted 5 principles for the trainees as guides to success; “Prepare deeply because readiness is the foundation of market access; Don’t go alone – clusters and cooperatives are your allies in scaling; See finance as within reach – with the right structures, capital will come; Invest in networks – because trade is built on trust, not just transactions; and Formalise your trade activities – so you can scale under AfCFTA and beyond,” she said.
