Lagos, Afreximbank Groom 253 SMEs, Select 20 Trade Champions for Global Showcase

Lagos State has concluded an intensive training for 253 entrepreneurs under the Lagos State Export Readiness Programme (LASERP) and named 20 outstanding businesses to represent the state at the 2025 Intra-African Trade Fair (IATF) in Algiers.

Governor Babajide Sanwo-Olu, represented by Special Adviser on Works, Dr. Adekunle Olayinka, said the initiative is aimed at preparing Lagos-based enterprises to compete internationally and boost non-oil exports. He noted that Lagos already contributes more than 60 percent of Nigeria’s non-oil exports and projected the new cohort of SMEs could attract an extra $1 billion in foreign exchange over the next five years.

Finance Minister Wale Edun, represented by Dr. Ogho Okiti, praised the programme for supporting Nigeria’s economic diversification drive and demonstrating the impact of strategic partnerships with institutions such as Afreximbank and ImpactHER.

Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, said LASERP was created to move local businesses “from the streets of Lagos to the shelves of the world” by equipping them with skills to meet and set global standards.

Afreximbank’s Regional Chief Operating Officer, Allain Thierry Mbongue, described SMEs as engines of Africa’s future industrial growth, while ImpactHER founder, Efe Ukala, disclosed that participants received digital marketing support, website development, financing opportunities, and trade certifications, enabling many to export products even during the training.

Industry leaders, including Mrs. Kofo Akinkugbe of SecureID and Weyinmi Eribo of Zenforte Partners, advised graduates to uphold quality standards, build networks, and leverage cooperative structures to expand across African markets under AfCFTA.

The 20 Trade Champions are expected to showcase Lagos-made goods at the state’s pavilion during IATF 2025, further positioning Lagos as a gateway for African trade.