UPDATED: LAGOS, AFREXIMBANK LAUNCH ACCELERATOR PROGRAM, TRAIN 250 SMEs ON EXPORT PROMOTION (PHOTOS)

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By: Sefiu Ajape

The Lagos State Government, in partnership with AfreximBank and ImpactHER, has flagged off the Lagos State/Afreximbank Accelerator Program for SMEs with launch of six-week training for 253 small and medium-sized enterprises towards driving export promotion in the state.

The event, which took place on Wednesday, at Adeyemi Bero Auditorium, Alausa, Ikeja, was hosted by the Ministry of Commerce, Cooperatives, Trade and Investment.

Out of the 253 participants, 20 exceptional SMEs would be selected after the training to participate in the Intra Africa Trade Fair in Algiers, Algeria, slated for September 2025.

Speaking at the opening ceremony of the Export Readiness Training Programme at Alausa, Ikeja, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose, said the whole essence was to widen the scope of MSMEs in the state and acknowledge the sector as a powerful tool for economic democratisation.

Ambrose described the opportunity as a gateway for SMEs for over 1.3 billion consumers, adding that it was a chance to engage buyers, investors, partners, and policy influencers from across Africa.

“It is a bold step towards transforming Lagos-based businesses into globally competitive exporters, building wealth, creating jobs, and amplifying the economic prosperity of our great state and Nigeria at large.

“The concept of export readiness is not just a trending term; it is an economic imperative. In an era marked by regional integration and the operationalisation of the African Continental Free Trade Area, we cannot afford to keep our vibrant enterprises confined to domestic markets. Our MSMEs must evolve from local champions to continental contenders.

“Nigeria, and Lagos State in particular, has long been regarded as the economic engine of West Africa. But being an engine is not enough if we are not propelling forward. This programme is the vehicle that will drive us into new markets, beyond borders, and into the centre of intra-African commerce,” she said.

While appreciating AfreximBank and ImpactHER for the partnership, the commissioner noted that the partnership aligned with the T.H.E.M.E.S+ agenda of Governor Babajide Sanwo-Olu’s administration.

She said, “Many of our MSMEs face challenges that hinder their access to global markets – challenges such as poor packaging, regulatory barriers, lack of export certification, limited financial literacy, and weak market linkages. This week-long training has been meticulously designed to demystify the export process, build practical skills, and create a clear pathway to cross-border trade participation.”

“The participants are expected to gain in high-value sessions covering: Export documentation and regulatory compliance; Product packaging and labeling standards for international markets; Trade finance and export credit guarantees; Understanding logistics, customs, and border procedures; Market entry strategies, especially under the AfCFTA; Digital trade and e-commerce opportunities and Gender-responsive exporting for women-led MSMEs.”

The commissioner explained that with her diversified economy and the largest informal market in sub-Saharan Africa, “Lagos is well-positioned to lead Nigeria’s charge into the global export economy.”

She advised the trainees to view the session as more than just a learning opportunity, but a launchpad to position their businesses on the global stage.

In his remarks, the Director, SME Development, Afreximbank, Mr. Ody Akhanoba, who spoke virtually from Cairo, Egypt, said the training offers a critical value chain to drive export promotion across the continent of Africa.

Akhanoba disclosed that Afreximbank earmarked $18.7b for SMEs on capacity training in 2024 for 27 countries, which included women and youths, stressing that for the year 2025, the bank has budgeted for over 3,000 SMEs for countries, 38 in Africa and seven in the Caribbean.

He stressed that the training, which is in partnership with Lagos State Government, is a stepping stone for participating SMEs, saying those who can distinguish themselves will be carried along through to September and beyond.

Also speaking, the representative of ImpactHER, Clementina Ozokwor, described the initiative as a strategic step toward positioning Lagos not just as Nigeria’s commercial hub, but also as a major export centre.

“This is basically an initiative where we are trying to make Lagos not just a centre of commerce, but also a centre of export,” she said.

“We want to hear, when exports are going out of Nigeria, that a significant portion is coming from the commercial heart of the country—Lagos.”

She noted that the state is committed to providing SMEs with the right tools and support to scale globally through the structured six-week programme.

“The first four weeks will be an intensive learning journey, followed by two weeks of mentorship. This programme is designed to align with your current business realities and goals, which is why we are starting with a pre-survey—to understand where you are and what you want to achieve,” she added.

Clementina also announced that the virtual sessions would officially begin on July 4, with access links and materials to be shared via email.

The event concluded with closing remarks from the Permanent Secretary, Dr. Olugbemiga Ayoola Aina.