Lagos stakeholders at the Kosofe Economic & Security Dialogue on Thursday called for enhanced grassroots engagement to address systemic challenges undermining the city’s economic potential. The 3rd Kosofe Economic & Security Dialogue, organized by the Kosofe Chamber of Commerce and Industry, brought together business leaders, policymakers, and community representatives to discuss strategies for fostering economic resilience. Abiodun Adedipe, founder and chief consultant of B. Adedipe Associates Limited, underscored the mutual reinforcement between security and economic growth, warning that insecurity could disrupt production, deter investment, and exacerbate inflation. He cited the case of a Borno State farmer whose livelihood was upended by violence, illustrating how localized instability could ripple into broader economic consequences.
Adedipe emphasized that economic activity and security are interdependent, with weak growth potentially deepening insecurity. He argued that responsible leadership at all societal levels—beyond political figures—was critical to addressing these challenges. Gabriel Idahosa, former president of the Lagos Chamber of Commerce and Industry, echoed the need for community-level chambers of commerce to amplify small businesses’ voices. He stressed that a centralized chamber could not adequately represent the diverse challenges faced by local enterprises, advocating for a network of community-based organizations mirroring Lagos’ economic scale. 'Every community in Lagos should have a Chamber of Commerce to address their issues,' Idahosa stated, citing Germany’s model of localized business-government collaboration.
Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, urged businesses to maintain continuous engagement with policymakers beyond election cycles. He highlighted persistent challenges for small enterprises, including finance, regulation, and taxation, and called for sustained advocacy to ensure their concerns shape policy. 'Democracy should provide value to businesses and citizens beyond elections,' Yusuf said, advocating for regular dialogue with local government officials, state lawmakers, and national representatives to maintain accountability.
Joe Femi-Dagunro, founder of the Kosofe Chamber, noted the loss of industries like Bata and Lennox in the area, which had previously driven employment. He warned that insecurity would hinder efforts to attract new investment, stressing the need for collaboration between businesses, communities, and government to restore confidence. Femi-Dagunro also emphasized the chamber’s role in educating small businesses on policy reforms, such as tax regulations, to enable informed decision-making.
The dialogue highlighted the urgency of strengthening grassroots institutions to translate Lagos’ economic potential into tangible improvements in living standards. Participants agreed that inclusive policies, transparent governance, and sustained public-private partnerships were essential to creating a resilient economic ecosystem. Adedipe concluded that addressing these challenges required a collective commitment to leadership, accountability, and community-driven solutions. 'The path forward demands collaboration, not just between sectors, but across all levels of society,' he said.
The Kosofe Chamber’s initiative reflects a broader movement to establish community-level business organizations across Lagos, providing a platform for collective advocacy. Stakeholders reiterated that without addressing systemic gaps in representation and security, the city’s economic growth would remain constrained. The discussions underscored the need for proactive measures to ensure that Lagos’ economic ambitions align with the realities of its diverse communities.
The event also drew attention to the broader implications of grassroots engagement for Nigeria’s economic development. With Lagos serving as a critical engine of the national economy, the call for localized solutions resonates beyond the city, offering a blueprint for addressing similar challenges in other regions. As stakeholders continue to push for systemic change, the focus remains on building institutions that empower communities and foster sustainable growth.