Lagata Partners with Bank of Industry In Sustainable Wood Processing in Nigeria
Lagata is pleased to announce its partnership with the Bank of Industry (BOI) in developing a sustainable wood processing in Nigeria. Through a long-term facility provided by BOI and substantial equity investment by the Lagata group, Lagata will develop a wide plantation and wood processing strategy, beginning with a first-of-its-kind, state-of-the-art manufacturing facility that will produce international-quality plywood products for both domestic consumption and export markets.
Supporting Nigeria’s Industrialization Agenda
This project is directly aligned with BOI’s mission of accelerating Nigeria’s industrial transformation. BOI is committed to driving economic development through the financing of industrial projects that support job creation, local value addition, and technology transfer. This project reflects this vision by strengthening Nigeria’s wood processing value chain and positioning the country as a hub for high-quality, locally manufactured products.
Inclusive Employment and Community Development
The facility is expected to generate significant employment opportunities for surrounding communities, with a strong focus on inclusive hiring practices. Lagata is committed to ensuring equal opportunities for women and youth, in line with Nigeria’s broader socio-economic development goals. By fostering inclusive growth, the project aims to empower underrepresented groups and build long-term community resilience.
Driving Import Substitution, Economic Growth, and Sustainable Forestry
By producing high-quality wood processed products locally, the project reduces Nigeria’s reliance on imports—conserving foreign exchange, strengthening domestic industries, and creating opportunities across the value chain. It also supports the development of sustainable forestry by promoting responsible sourcing and encouraging long-term environmental stewardship.
This partnership marks a significant step toward inclusive, sustainable industrial growth in Nigeria—aligning economic progress with environmental responsibility and community empowerment. This strategic collaboration between Lagata and BOI marks an important step toward sustainable industrial growth in Nigeria—one that combines environmental responsibility, economic opportunity, and social impact.