The Lagos Chamber of Commerce and Industry will on Monday inaugurate a new Innovation Hub in Lagos aimed at nurturing startups and supporting small and medium-scale enterprises across Nigeria.

Speaking on Friday during the chamber’s 2025 Members’ Day in Lagos, Ladi Smith, Chairman of Research and Advocacy at LCCI, said the hub is designed to “curate and incubate” emerging businesses and serve as a pipeline for future LCCI members.

“The Innovation Hub we are opening on Monday is the best place you can bring any entrepreneur,” Smith said. “You don’t even need to be a member of the chamber to try your hand at whatever it is.”

Smith told Sunday PUNCH that the hub would offer co-working spaces, business mentorship, and market-access programmes for technology ventures. Graduates of the initiative, he said, would be well-positioned to integrate into the chamber’s growing network.

The annual Members’ Day, Smith added, remains a major platform for connecting blue-chip companies with emerging startups, fostering mentorship and business deals, particularly in Nigeria’s expanding fintech sector.

In a fireside chat, Lagos State Commissioner for Innovation, Science and Technology, Olatunbosun Alake, encouraged entrepreneurs to tap into the state’s digital infrastructure and cybersecurity efforts.

“Through the Lagos State Employment Trust Fund, we have trained over 35,000 young people in digital skills,” Alake said. “We’ve also expanded metro-fibre into underserved areas to de-risk investment for telecom operators.”

He urged SMEs to prioritize cybersecurity, advising them to conduct regular system audits. “You must think safety first. Engage white-hat hackers to test your network before criminals do,” he warned.

Representing the Federal Minister of Innovation, Science and Technology, Ikechukwu Okoro, Director of ICT at the ministry, highlighted a €7.9 billion green-hydrogen investment tied to the government’s Project Green. He noted that the ministry aims to achieve 30% local value-addition in raw material exports.

“Innovation and resilience are survival tools,” Okoro said. “Government alone cannot execute transformation at scale; we need private-sector collaboration.”

In his opening remarks, delivered by Deputy President Leye Kupoluyi, LCCI President Gabriel Idahosa reaffirmed the chamber’s commitment to advocating policies that reduce energy costs and improve access to finance for innovative businesses.

“Nigeria’s private sector shows remarkable resilience,” Kupoluyi said, citing a 2024 PwC survey showing that 58% of MSMEs have adopted some form of innovation—from digitised payments to supply chain reengineering.