.to set up catalytic fund for expansion

By Olasunkanmi Akoni

Lagos State State Government has unveiled Operation Quadrant Ignite (OQI); a bold initiative that seeks to transform the Lekki Economic Zone (LEZ) into Africa’s premier destination for manufacturing, trade, and investment.

Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose, disclosed the initiative on Tuesday, which stands at the core of Lagos State’s industrialiszation strategy, at the Design and Innovation Exhibition, organised by Design Week Lagos, held at Victoria Island, Lagos.

Speaking at the event, Ambrose stated that Lekki has long been envisioned as the industrial nerve center that will accentuate Lagos’ strategic location, abundant resources, and robust infrastructure, a vision that is currently being turned into reality through Operation Quadrant Ignite.

According to her: “Through this initiative, Lagos State Government, under the able leadership of Governor Babajide Sanwo-Olu, is unlocking the full potential of the Lekki Economic Zone, ensuring that underutilised assets are repurposed and land use is optimized for maximum productivity.

“This transformation is not just about land development; it is about creating an integrated industrial ecosystem that fosters innovation, efficiency, and global competitiveness.

“A critical pillar of Operation Quadrant Ignite is the establishment of a Catalytic Fund, designed to provide targeted financing for industrial projects with high growth potential.

“By attracting investment from Development Finance Institutions (DFIs), Private Equity firms, and venture capitalists, this fund will serve as a catalyst for industrial expansion, enabling businesses to scale rapidly while ensuring that local enterprises are not left behind in the process.”

According to her, Operation Quadrant Ignite leverages the strategic importance of the Lekki Deep Sea Port, positioning Lagos as a hub for export-driven manufacturing; integrating efficient logistics, world-class port facilities, and seamless trade.

“We recognise infrastructure as the backbone of industrial growth that will enable Lagos-based industries compete effectively in the global market, ensuring that locally manufactured goods reach international consumers with speed and efficiency.

“This initiative prioritises the development of world-class road networks, reliable energy supply, and digital connectivity, providing industries with the essential infrastructure they need to thrive, and reinforcing Lagos reputation as the preferred destination for industrial investments in Africa.

“Operation Quadrant Ignite is more than a policy; it is a commitment; a commitment to sustainable industrial growth, a commitment to unlocking economic potential, and a commitment to positioning Lagos as a global leader in industrialization.

“Through this initiative, the Sanwo-Olu’s administration is not just envisioning a more prosperous Lagos, we are actively building it.”

Ambrose stressed that “The industrial transformation of Lagos is well underway and the opportunities ahead are limitless,” noting that stakeholders, investors, and partners are invited to join in the bold journey that would ensure Lagos remains the heartbeat of Africa’s industrial evolution.

Managing Director, Lekki Worldwide Investments Limited, Adeniyi Akinlusi, described Lekki Economic Zone as the location of leading enterprises and manufacturing concerns that are setting the pace in Nigeria’s industrialisation trajectory.

“The Lekki Economic Zone holds considerable potentials and has great role to play in Lagos bid to set the pace in the new frontier of African industrialization.”

Founder, Design Week Lagos, Titi Ogunfere, described the gathering as not just another exhibition but a bold statement about the future of Nigeria’s industrial and manufacturing sectors.

“As we stand at the crossroads of transformation, we recognise that true economic progress is driven by design, manufacturing, and innovation.

“The nations that have led the world – whether through technological revolutions or manufacturing excellence -have been built by design.

“History has shown us that design and industrialisation go hand in hand. Today, Nigeria stands at that same inflection point. We are a nation rich in talent, resources, and ideas, and as seen in this exhibition, the potential for design-led manufacturing is immense.

“The products showcased here – from furniture and industrial design to product invention – have proved that we have the creativity, skill, and vision to compete on a global scale.

“But potential alone is not enough. To move from vision to reality, we must create the right policies, infrastructure, and business environments that empower designers, manufacturers, and entrepreneurs to produce at scale – not just for local markets but for export.

“That is why today’s discussions on industrialisation and investment are so critical. The Lekki Free Trade Zone and other industrial hubs offer an unparalleled opportunity to develop a Made-in-Nigeria export economy, but this requires collective action.

“We must bridge the gap between designers and manufacturers, ensuring that ideas do not remain concepts but become tangible products,” she said.

The event also had a panel of rich resource persons comprising the Director General, Manufacturing Association of Nigeria, MAN, Mr Segun Ajayi-Kadiri; Managing Director, Alaro City, Yomi Ogunmola; Founder/Chief Responsibility Officer, Ruff ‘N’ Tumble, Adenike Ogunlesi.

Others include: Deputy Managing Director, Lekki Free Zone Development Company, Bolatito Ajibode; Group Finance Director, Tolaram Group, Mineshaft Rathi; Industrial Policy Commission Facilitator/National Practice Lead, Nigeria Economic Summit Group, Muda Yusuf; and CEO, Commercio Partners Asset Management, Tosin Osunkoya, among others.