The Lagos Chamber of Commerce and Industry (LCCI) and the Bank of Industry (BOI) have commissioned the LCCI-BOI Innovation Hub, to nurture youth-led innovation by providing access to mentorship, technical support, and investor network.The LCCI-BOI Innovation Hub, which marked a new chapter in collective pursuit of economic transformation through youth-driven innovation, job creation, and inclusive development, will also catalyse enterprise growth by offering sector-specific incubation programs. Speaking at the commissioning of the Hub in Lagos, on Monday, LCCI President Gabriel Idahosa, said, the initiative will offer sector-specific incubation programs, especially in high-impact industries.He added that the Hub will build capacity through tailored workshops, upskill boot camps, and provide professional development resources. He listed other strategic goals of the Hub to include job creation, by turning ideas into viable, scalable businesses; and as a platform for policy dialogue and advocacy, fostering conversations that will shape Nigeria’s enabling environment for innovation.According to the LCCI President, the Hub aligns with national and continental development strategies, including Nigeria’s Digital Economy Policy and Strategy (2020–2030) and the African Union’s Agenda 2063.He also said it comes at a critical time when Nigeria continues to lead the African tech startup space, with Nigerian startups attracting over $1.2 billion in venture capital, the highest on the continent.‘This trend tells a compelling story that there is no shortage of ideas or talent here, but a critical need for infrastructure, coordination, and support,” Idahosa said.He stated that the facility symbolizes what can be achieved when collaboration, vision, and commitment converge. The LCCI chief applauded the BOI for their shared passion for innovation, industrial advancement and enterprise growth.He added that the event is not merely a ceremonial event but a declaration that “we are ready to support the future of work, enterprise, and creativity in tangible, transformative ways.”The LCCI-BOI Innovation Hub is, therefore, a direct response to these realities. It empowers youth, small businesses, and startups with the tools, networks, and environment they need to grow, innovate, and scale.Idahosa said it has state-of-the-art amenities, including co-working spaces, high-speed broadband, tech labs, creative design studios, and incubation suites.He called on government institutions to continue enacting policies that support innovation, through tax incentives, research funding, and regulation that balances risk and opportunity.In his remarks, the Managing Director, BOI, Dr. Olasupo Olusi, said the collaboration with LCCI is a testament of the Banks footprint in fintechHe said the Innovation Hub also reflects a deeper strategic commitment that aligns with the Federal Government’s agenda for digital economy and industrial development.This, he said, is a key element of BOI’s 2025–2027 corporate strategy to cultivate inclusive ecosystems that promote innovation and entrepreneurship across key sectors such as technology, youth, and manufacturing.He said: ‘Beyond infrastructure and strategy, this initiative is a signal of hope and opportunity. It is designed to break down barriers to access capital, mentorship, and skills especially for young Nigerians and Micro, Small and Medium Enterprises (MSMEs).“We believe it will strengthen digital capabilities, promote partnerships, and improve Nigeria’s competitiveness in the global innovation economy.”The BOI boss disclosed that the Bank has invested in 18 technology hubs across Nigeria that are fully operational and serve as innovation centres, incubation spaces, and digital capacity-building facilities.He said similar to the LCCI–BOI Innovation Hub, all centres are equipped with co-working spaces, training labs, high-speed internet, business advisory services, and incubation support.Olusi said thousands of young innovators have been trained in these hubs in areas such as digital skills, coding, UI/UX design, data science, and product development, and many of them have gone on to become successful entrepreneurs or freelance professionals.He added that these hubs are helping to lay the foundation for youth-driven innovation, digital inclusion, and job creation across the country he stated.
