Lagos | August 2025
The Lagos State Government has trained 253 Small and Medium Enterprises (SMEs) under its Lagos State Export Readiness Programme (LASERP) and unveiled 20 outstanding entrepreneurs as Trade Champions to represent the state at the Intra-African Trade Fair (IATF) 2025 in Algiers this September.
The initiative, organised in partnership with Afreximbank and ImpactHER, is aimed at preparing SMEs to compete in regional and global markets while boosting Lagos’ contribution to non-oil exports.
Speaking at the graduation and closing ceremony in Lagos on Friday, Governor Babajide Sanwo-Olu, represented by his Special Adviser on Works, Dr. Adekunle Olayinka, described the unveiling as “a new chapter in the story of Lagos enterprise.”
“When LASERP was conceived, our vision was clear: to prepare Lagos entrepreneurs to compete beyond our shores, diversify our economy away from oil, and entrench Lagos as the undisputed gateway of trade for Nigeria and Africa. With this graduating cohort, we project an additional $1 billion in foreign exchange inflows annually within the next five years,” Sanwo-Olu said.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, represented by Dr. Ogho Okiti, commended the state government and the Ministry of Commerce, Cooperatives, Trade and Investment led by Mrs. Folashade Ambrose-Medebem for driving the programme.
He noted that LASERP was a model initiative in line with the Federal Government’s push for export diversification and SME growth.
“This collaboration demonstrates the power of partnerships in unlocking Nigeria’s economic potential. LASERP directly supports our broader agenda to grow non-oil exports, strengthen women-led enterprises, and expand Nigeria’s global competitiveness,” Edun said.
Commissioner Ambrose-Medebem described the programme as a bold step to elevate Lagos SMEs to global relevance.
“LASERP was born to move our SMEs from the streets of Lagos to the shelves of the world. Today is Lagos telling the world: we are ready, we are rising, and we will lead,” she said.
Afreximbank’s Regional Chief Operating Officer, Allain Thierry Mbongue, added that the programme has positioned SMEs as “the engine that will power Africa’s economic future under AfCFTA.”
Founder of ImpactHER, Efe Ukala, disclosed that participants received training in digital transformation, branding, export certification, and finance access. She noted that within six weeks, participants shipped over a dozen 20-foot containers of goods, while 10 businesses secured international trade certifications.
Other speakers at the ceremony included:
Ody Akhanoba, Afreximbank’s Director of SME Development, who urged entrepreneurs to leverage new skills to drive Africa’s industrial revolution.
Mrs. Kofo Akinkugbe, OON, MD of SecureID, who stressed commitment to quality, global standards, and gradual growth.
Weyinmi Eribo, Managing Partner of Zenforte Partners, who advised graduates to prepare deeply, collaborate through clusters, explore financing opportunities, build networks, and formalise trade under AfCFTA
The 20 selected Trade Champions will showcase the best of Made in Lagos products in the Lagos Pavilion at IATF 2025 in Algiers.
With Lagos already accounting for over 60% of Nigeria’s non-oil exports (worth $5.3 billion in 2024), the state government said LASERP is expected to consolidate Lagos’ role as Nigeria’s trade gateway and boost its presence in continental and global markets.
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