The Lagos State government is boosting efforts in equipping small and medium-sized enterprises (SMEs) with the tools needed to navigate export markets, particularly the African Continental Free Trade Area (AfCFTA).
Governor Babajide Sanwo-Olu stressed on the state’s commitments to support small business operators during his award presentation as ‘SME Most Friendly Governor of the Year 2025’ at the 5th National SME Business Awards 2025 held in Lagos recently.
According to him, the move by Lagos State aligns with the federal government’s push to build the export readiness of local SMEs, particularly to leverage the transformative opportunities presented by the AfCFTA.
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Represented by Folashade Abrose-Medebem, the commissioner for commerce, cooperatives, trade and investment, Lagos, Sanwo-Olu affirmed the state’s recognition of the “immense potential” of Lagos-based SMEs in the export sector.
He stated that the government is actively implementing strategies focused on providing SMEs with crucial access to information, financial resources, and logistical support necessary for navigating the complexities of international trade.
A key thrust of these efforts, he emphasised during a question-and-answer session, is to equip Lagos SMEs with the knowledge and skills required to compete effectively within the AfCFTA and the wider global landscape.
This, according to the governor, aimed at enhancing export readiness, including capacity-building programmes and market access support.
He noted that the state is actively working towards establishing a comprehensive database of SMEs within the state to better tailor support and connect businesses with relevant opportunities.
Femi Egbesola, president of the Association of Small Business Owners of Nigeria (ASBON) and convener of the awards, lauded the collaborative efforts of both private and public sector stakeholders in nurturing the growth of SMEs.
He emphasised that these businesses are the “bedrock of economic progress,” fostering innovation, generating employment, and driving sustainable development.
Egbesola highlighted the awards’ core mission: to shine a spotlight on the individuals, organisations, and initiatives that have demonstrably contributed to the flourishing of Nigeria’s SME ecosystem.
He emphasised that SMEs are the bedrock of economic progress, fostering innovation, generating employment, and driving sustainable development across various sectors.
“These awards are a testament to the unwavering dedication and impactful contributions of those who champion the cause of SMEs in Nigeria.”
“We recognize that the growth of this sector is not a solitary endeavour but a collaborative effort that requires the commitment and strategic interventions of both the private and public spheres.”
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He lauded the resilience and ingenuity of Nigerian entrepreneurs, who navigate a complex business environment with determination and a spirit of innovation.
He stressed the importance of creating an enabling environment that fosters SME competitiveness, facilitates access to finance, provides adequate infrastructure, and streamlines regulatory processes.
Also, Adenike Adeyemi, executive director,FATE Foundation, in her keynote, said that SMEs hold immense potential for economic growth and job creation, yet a weak financial framework hinders their progress.
She noted that Nigerian SMEs, despite their crucial role in the economy face challenges in accessing finance due to a lack of transparent and reliable performance indicators.
