Lagos Govt Unveils Operation Quadrant Ignite, Ready To Compete With Global Market 

Determined to compete favourably in the global market, the Lagos

State government on Tuesday launched the Operation Quadrant Ignite (OQI), which is a major driver of industrialization and economic development.

The OQI is a comprehensive strategic industrial policy that would serve as a guide to foster investment, innovation and economic development, especially in the Lagos Free Trade zone.

The Commissioner, Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI), Folasade Ambrose-Medebem, at the formal launch of the OQI, and the Design Week Lagos, 

 commended the Lagos government for making groundbreaking strides in improving the ease of doing business, and ensuring a seamless regulatory framework that attracts both local and foreign investors.

The Design Week Lagos, themed: “The Road To Industrialization: Accelerating Industrialization, Manufacturing, and Investments In Lagos State, she noted, was to address critical challenges hindering Lagos and by extension, Nigeria’s industrialisation while capitalizing on the Lekki Economic Zone (LEZ’s) inherent strengths to create a thriving ecosystem that attracts global and regional investments.

At the event, which attracted partners, captains of industry, innovators, and visionaries, Ambrose-Medebem said: “The Design Week Lagos, a prestigious gathering that not only celebrates innovation and creativity but also serves as a beacon of industrial transformation and economic evolution, is a testament to the power of ideas, collaboration, and bold ambition, bringing together trailblazers and thought-leaders who are shaping the future of industries and economies across Africa and beyond.”

The key components of OQI, according to Ambrose-Medebem, include: asset optimisation to unlock the potential of redundant land and assets within the LEZ; establishment of a catalytic fund to bridge financing gaps for promising projects through attraction of investments from Development Finance Institutions (DFI), Private Equity firms, among others.

Other components are infrastructure enhancement,  investment promotion; sustainable development through the integration of environmental, social and governance compliance frameworks to guide activities;  economic diversification and job creation; optimization of the Lekki Deep Sea Port and global competitiveness.

According to her, the theme of this year’s event, is not merely a topic for discussion—it is a clarion call, an urgent appeal for strategic partnerships, bold investments, and unwavering commitment to unlocking the immense potential of Lagos State as Africa’s foremost industrial and economic powerhouse. 

According to her, “Industrialization is not just about factories and production lines; it is about innovation-driven manufacturing, world-class infrastructure, sustainable development, and inclusive economic growth. It is about empowering businesses, creating jobs, and setting the stage for a resilient and competitive Lagos that thrives in the global marketplace.”

While urging the stakeholders that their “insights, investments, and innovations are the fuel that will propel us forward. the commissioner noted “it is an incubator for transformation, a launchpad for industrial progress, and a city that refuses to be left behind in the evolving global economy. 

“The road ahead is paved with opportunity, and together, we must seize the moment to shape the future of Lagos as a beacon of industrial excellence and economic prosperity.”

With Nigeria’s largest seaport, the most robust financial sector, and a thriving manufacturing ecosystem, Ambrose-Medebem said that “Lagos is not just leading in trade but is defining the future of industrialization on the continent.

“Under the visionary leadership of the Babajide Sanwo-Olu administration, Lagos State’s Gross Domestic Product (GDP) has experienced remarkable growth, increasing from N27 trillion to N41 trillion within four years. 

“This economic expansion underscores our commitment to creating an environment where businesses can thrive and investments flourish. 

“This administration has successfully transformed Lagos into an attractive investment destination, fostering a business-friendly environment and unlocking vast economic opportunities across multiple sectors.”