Lagos State has hosted a high-level Thailand–Nigeria Business Forum, with Governor Babajide Olusola Sanwo-Olu calling for stronger economic and investment ties between Lagos, Nigeria and Thailand.
The forum, held on Thursday, August 27, 2026, at the Radisson Blu Anchorage Hotel, Lagos, brought together business leaders, investors and key stakeholders from both countries. Governor Sanwo-Olu was represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Hon. Folashade Bada Ambrose-Medebem.
Sanwo-Olu described Lagos as Nigeria’s commercial nerve centre, financial and technology hub, and gateway to one of Africa’s largest consumer markets. He said Lagos offers scale, talent, markets and connectivity, while Thailand brings capital, technology, expertise and globally competitive businesses.
The Governor identified agriculture and agro-processing, manufacturing, automotive components, electronics, consumer goods, logistics, digital technology, healthcare, hospitality and tourism as major areas with investment potential.
He noted that partnerships in these sectors could generate new businesses, facilitate technology transfer, strengthen local supply chains, develop skills and create quality jobs.
Sanwo-Olu also highlighted Lagos’ continued investment in infrastructure, transportation, digital ecosystems and ease-of-doing-business initiatives, stressing that the State remains committed to creating an environment where private capital can thrive.
He observed that annual trade between Thailand and Nigeria currently stands at just over $200 million, describing the figure as an indication of the significant room for growth.
The Governor called for partnerships that go beyond the exchange of goods, including Thai companies investing in Nigeria, Nigerian businesses accessing Thai technology and expertise, joint ventures serving local and regional markets, and supply chains capable of creating long-term economic value.
He urged Thai investors to explore Lagos’ regulatory environment, industrial and commercial districts and market opportunities, assuring them of the State Government’s continued support.
Sanwo-Olu said he wanted the forum to mark the beginning of a lasting relationship, with Thai businesses using Lagos as a platform for growth in Nigeria and Africa, while Nigerian businesses gain access to Thailand’s technology, expertise, capital and international connections.
Speaking at the forum, Thailand’s Deputy Prime Minister and Minister of Foreign Affairs, Mr. Sihasak Phuangketkeow, who led the Thai delegation, declared: “We are not here to explore, we are here to build partnerships.”
Phuangketkeow stressed the importance of understanding Nigeria’s business environment, networking and strengthening existing economic partnerships. He also highlighted opportunities for cooperation in tourism, including medical and wellness tourism, agro-tourism and culinary tourism, cultural and heritage tourism, as well as business and MICE (Meetings, Incentives, Conferences and Exhibitions) tourism.
He said tourism could strengthen people-to-people ties and support the Thailand-Africa Initiative, which seeks deeper political, economic and development cooperation between Thailand and African countries.
The Thai Ambassador to Nigeria, Mr. Thirapath Mongkolnavin, said the forum was designed to connect business opportunities in both countries and promote mutual benefits.
Also speaking, President and Chairman of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Leye Kupoluyi, described Sanwo-Olu’s message as a reflection of Lagos’ economic reality. He praised Commissioner Folashade Bada Ambrose-Medebem for her role in strengthening the State’s business environment.
Kupoluyi said the proposed collaboration could translate into commercial deals and wealth creation, stressing that Nigeria should be viewed as a regional production hub. He identified opportunities in rubber, automotive components, commercial agriculture, food processing, herbal products, manufacturing and renewable energy.
He also encouraged Thai manufacturers to establish facilities in Nigeria, noting that Lagos provides opportunities for companies seeking to serve regional markets.
The forum featured presentations by the Export-Import Bank of Thailand (EXIM Thailand) and SOREX on mechanisms for strengthening trade and investment between both countries.
EXIM Thailand presented itself as an “Export Co-pilot” for Thai businesses, particularly small and medium-sized enterprises, offering trade finance, export credit insurance, investment advisory services and risk-management solutions covering buyer defaults, foreign exchange and international payments.
The bank also outlined opportunities for Thai businesses to enter high-potential markets while building stronger export ecosystems through partnerships and business-matching initiatives.
With exports accounting for more than half of Thailand’s GDP, EXIM Thailand highlighted its 2026 strategies, including improving liquidity for SME exporters affected by trade tensions, managing international trade risks and strengthening the global competitiveness of Thai businesses through programmes such as EXIM 2X.
The programme covers export knowledge, funding access, international trade risk management, AI for exporters, ESG business practices and business-matching activities.
SOREX also presented opportunities for trade facilitation, business matching and investment advisory support, complementing the efforts of EXIM Thailand and the LCCI.
The forum ultimately underscored the commitment of Nigeria and Thailand to expand bilateral trade, attract investment, promote technology and knowledge transfer, and build stronger commercial partnerships capable of creating jobs, wealth and sustainable economic growth.
