LCCI to Launch Innovation Hub

The Lagos Chamber of Commerce and Industry (LCCI) is set to launch an Innovation Hub
on Monday in Lagos, aimed at supporting tech startups and small to medium-sized
enterprises.
Ladi Smith, Chairman of Research & Advocacy at LCCI, said the hub is designed to drive
innovation within Nigeria’s business landscape. He noted that it will “curate and incubate”
emerging ventures while also serving as a pipeline for future chamber members.
Speaking at the chamber’s 2025 Members’ Day event in Lagos, Smith described the hub as
an ideal space for aspiring entrepreneurs. “You don’t have to be a chamber member to come
and experiment with your ideas,” he said.
In a conversation with Sunday PUNCH, Smith revealed that the Innovation Hub will offer co-
working spaces, mentorship opportunities, and market-access programmes tailored to tech
startups. He added that those who graduate from the hub would eventually become part of
the chamber’s growing membership base.
Smith also highlighted that the annual Members’ Day serves as a vital networking platform,
bringing together blue-chip companies and startups to foster mentorship and business deals,
particularly within the rapidly expanding fintech sector.
Lagos State Commissioner for Innovation, Science, and Technology, Olatunbosun Alake,
encouraged entrepreneurs to take advantage of the state’s digital infrastructure and
cybersecurity initiatives.
Speaking during a fireside chat, he stated, “Through the Lagos State Employment Trust
Fund, we’ve trained more than 35,000 young people in digital skills.”
Alake also noted that the state had expanded metro-fibre networks into underserved areas
to reduce investment risks for telecom operators. He urged SMEs to adopt basic
cybersecurity practices, warning, “Always prioritise safety. Hire white-hat hackers to test your
systems before malicious actors do.”
Speaking on behalf of the Federal Minister of Innovation, Science and Technology, the
Director of ICT, Ikechukwu Okoro, revealed that the ministry had secured €7.9 billion in
green hydrogen investment through its Project Green initiative. He added that the
government aims to achieve 30% local value addition on raw material exports.
Innovation and resilience are crucial for survival,” Okoro told participants. “The government
cannot achieve large-scale transformation on its own; strong partnerships with the private
sector are essential.”