The Lagos State Government is targeting an extra $1 billion in annual foreign exchange earnings through small and medium enterprises (SMEs), following the graduation of 253 participants from its Export Readiness Training Programme. Twenty of these entre… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Lagos backs SMEs to boost exports by $1 billion By Enitan Ajebukola Ajewumi on August 26, 2025 The Lagos State Government is targeting an extra $1 billion in annual foreign exchange earnings through small and medium enterprises (SMEs), following the graduation of 253 participants from its Export Readiness Training Programme. Twenty of these entrepreneurs will showcase "Made in Lagos" products at the 2025 Intra-African Trade Fair in Algiers this September. Read also, Lagos backs SMEs to boost exports by $1 billion Nigeria's reserves rise supporting naira stability Customs generates ₦161bn in 3 weeks assures SMEs of faster trade processes Why results speak louder than office politics EU powers Yabatech innovation hub for agritech SMEs Governor Babajide Sanwo-Olu noted that Lagos, which already contributes over 60% of Nigeria's non-oil exports ($5.3 billion in 2024), sees SMEs as the backbone of its economy and key to global competitiveness. The programme, supported by Afreximbank and ImpactHER, provided training, digital tools, market access, and single-digit loans to help businesses scale internationally.

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