The Lagos State Government has signed a strategic partnership with the Bank of Industry (BoI) to improve workplace safety practices among Micro, Small and Medium Enterprises (MSMEs) operating in the state.
The agreement was formalised during the third Lagos State Occupational Safety and Health Conference, where stakeholders highlighted the critical role of safety standards in improving business resilience, productivity, and competitiveness particularly for small businesses that dominate the state’s economy.
Governor Babajide Sanwo-Olu said the initiative is part of broader efforts to institutionalise a safety-first culture across all sectors in Lagos. He noted that MSMEs, which often operate in crowded and informal settings, remain vulnerable to workplace hazards that can disrupt operations and increase business costs.
“This is a historic step toward building a structured, accountable, and professional safety framework. With the MoU signed with the Bank of Industry and the inauguration of the Occupational Safety Cadre, we are laying the foundation for safer, more productive workplaces,” Sanwo-Olu said.
The Occupational Safety Cadre, described as the first of its kind in Sub-Saharan Africa, will function as a specialised professional structure within the Lagos State civil service. The cadre aims to mainstream occupational safety into governance and regulatory systems, ensuring that both public and private sector operators adopt globally recognised safety practices.
Dr. Olasupo Olusi, Managing Director and CEO of BoI, noted that inadequate workplace safety remains a major challenge for businesses across Africa. He explained that unsafe work environments lead to reduced productivity, higher healthcare costs, and reputational risks, making it essential for MSMEs to embed environmental, social, and governance (ESG) standards into their operations.
“By integrating global standards, technology, and accountability, we can build workplaces that are safe, competitive, and resilient,” Olusi said in his keynote address.
The conference themed ‘Occupational Safety and Health as a Catalyst for Nation-Building’ served as a platform for policy dialogue and collaboration between government agencies, safety professionals, financial institutions, and private sector players. Discussions centred on how safety investments can drive economic growth, reduce business risks, and position MSMEs for sustainable expansion.
Director-General of the Lagos State Safety Commission, Lanre Mojola, said compliance levels among businesses are increasing, leading to a shift from enforcement to collaborative safety improvements. He noted that over 20,000 facilities are now registered on the state’s safety platform, a development he attributed to growing awareness among operators.
Stakeholders at the event stressed that improving occupational safety is not just a regulatory requirement but an economic imperative. For MSMEs, particularly those in manufacturing, hospitality, and transportation, stronger safety frameworks can help reduce downtime, prevent losses, and attract financing from institutions that prioritise ESG compliance.
