No fewer than 253 Small and Medium Enterprises (SMEs) have undergone a training on exports in collaboration with the African Export-Import Bank (Afreximbank).
The beneficiaries underwent the training under the Lagos State Export Readiness Programne (LASERP), designed to prepare Lagos entrepreneurs to compete beyond the country’s shores, diversify the economy away from the dominance of oil, and to entrench Lagos as the undisputed gateway of trade for Nigeria and the African continent.
At a graduation ceremony held for them last Friday in Lagos, 20 outstanding trade champions were chosen to represent the state and showcase the best of Made in Lagos products in the Lagos Pavilion at the Intra African Trade Fair (IATF) in Algiers, the Algerian capital, in September.
The Governor of Lagos State, Mr Babajide Sanwo-Olu, represented by his Special Adviser on Works, Mr Adekunle Olayinka, said, “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 per cent of Nigeria’s non-oil exports, which stood at $5.3 billion in 2024, and with this graduating cohort of over 250 SMEs, we project an additional $1 billion in foreign exchange inflows annually within the next five years.”
Also speaking, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, represented by his Special Adviser on Communications, Media, and Publicity, Dr Ogho Okiti, thanked the stakeholders involved in the exercise, including Afreximbank and ImpactHer, for “making this programme a success.”
According to him, the partnership “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 stated.
On her part, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose, re-echoed Mr Sanwo-Olu’s view that the state would no longer be “local champions, [but] global competitors.”
On his part, the Regional Chief Operating Officer for Afreximbank, Mr Allain Thierry Mbongue, said, “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.”
The chief executive of ImpactHER, Ms 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 per cent 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.
The beneficiaries were reminded by the Managing Director of Secure ID, Mrs Kofo Akinkugbe, that “quality and global standards” are crucial for entering new markets and gaining international recognition.
“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,” were the words of the Managing Partner at Zenforte Partner, Ms Weyinmi Eribo, to the graduating students.