Whether driving local manufacturing and retail excellence at FAE Group of Companies or shaping economic advocacy at Lagos Chamber of Commerce and Industry (LCCI), Princess ‘Layo Bakare-Okeowo is best defined by three qualities: focus, determination, and an unintimidated spirit. WHERE To Print magazine sits down with this visionary leader for an exclusive interview on critical issues shaping Nigeria’s economy. In this no-holds-barred conversation, she tackles the realities of the local manufacturing sector, united solutions for the paper industry crisis, and female leadership in a male-dominated industry. She also reflects on her advocacy for gender inclusion, as well as her instrumental role in organizing the landmark Ruby Anniversary of the Lagos International Trade Fair (LITF). Read the excerpt below:
CONGRATULATIONS ON YOUR NEW POSITION AS THE CHAIRPERSON OF THE TRADE PROMOTION BOARD, ORGANIZERS OF THE LAGOS INTERNATIONAL TRADE FAIR. HOW DO YOU FEEL?
Thank you very much. I am deeply honoured to serve as the Chairman of the Trade Promotion Board. With the Lagos Chamber of Commerce and Industry standing strong since 1888, and the Lagos International Trade Fair (LITF) marking its 40th anniversary this year, this is a truly historic milestone. I am incredibly proud to be the first woman appointed to lead this board. Women are known for our meticulous attention to detail and prudent management, alongside that special touch of excellence. True to form, we are bringing that distinct ‘wow’ factor to this year’s show, featuring a lineup of exciting new goodies and innovations. The theme of this year’s LITF is: 40 Years of Trade, Growth and Global Connection, and will be held for 10 days, from November 6 to 15, 2026, at the Tafawa Balewa Square (TBS) on Lagos Island. It is going to be our greatest edition yet!
AS YOU TAKE CHARGE, WHAT EXCITES YOU ABOUT THIS YEAR’S LAGOS INTERNATIONAL TRADE FAIR, ESPECIALLY AS THE SHOW MARKS ITS 40TH ANNIVERSARY THIS YEAR?
We are bringing together multiple Businesses-to-Business (B2B) trade fairs in one location, featuring specialized exhibitions for Printing, Plastics, and Exports. A key highlight will be the African Hall, a dedicated pavilion aimed at boosting intra-African trade and uniting participants from across the continent, alongside a strong international presence with confirmed exhibitors traveling from China, Indonesia, Taiwan, Japan, Vietnam, and Malaysia to showcase their solutions in Africa.
FOLLOWING THE SUCCESS OF LAST YEAR’S PRINTING & PACKAGING PAVILION, CAN YOU CONFIRM IF THIS SECTOR WILL BE COLOCATED AGAIN THIS YEAR?
Yes, I can confirm the strong presence of the LCCI Printing, Publishing and Allied Group. Having previously chaired this sector, I remain deeply committed to advocating for our members. With this year’s edition set to be larger and feature international exhibitors specific to the print and allied sectors, our Group will be participating in full force.
GENERALLY, WHAT’S NEW ABOUT THIS YEAR’S LAGOS INTERNATIONAL TRADE FAIR?
Apart from the B2B matchmaking and the African Hall, there’s also the Tech Hub, which will showcase telecommunications, software, and ICT innovations. That is why in this year’s edition, we are bringing multiple fairs together into one massive location! And given the massive shift towards alternative fuels, like the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) in Nigeria, we are hosting top-tier CNG manufacturers and allied solution providers. The expo is also the ultimate hub for cross-border business. We will also feature prominent agricultural and entertainment producers looking to export their products for foreign earnings. Additionally, we are thrilled to welcome exciting new exhibitors from Malaysia, Taiwan, and several other countries. It is set to be an unmissable, high-energy event!
WITH ATTENDEES ARRIVING FROM ACROSS THE GLOBE, WHAT EXCLUSIVE PARTNERSHIPS OR SPECIAL RATES HAVE YOU NEGOTIATED WITH LOCAL HOTELS, AIRLINES, AND TRANSPORTATION PROVIDERS TO ENHANCE PARTICIPANTS’ EXPERIENCE?
We offer a variety of customizable packages and invite you to reach out to discuss your specific needs. Thanks to our partnerships with major airlines and logistics providers, we provide highly competitive rates. Most importantly, we have upgraded our global security measures to ensure a safe, worry-free experience for all international guests and participants.
REFLECTING ON LAST YEAR, WHAT WAS YOUR BIGGEST WIN, YOUR HARDEST CHALLENGE, AND WHAT DROVE YOU TO ACHIEVE THAT SUCCESS?
While power remains our primary challenge, we have proactively partnered with all major power-generating companies to ensure a steady supply. For any rare outages, robust backup systems are in place. Our greatest success, however, lies in our strategic alliances—featuring Zenith Bank as our official Bankers, Lead Insurance as our official Insurer, and valued media partners like you to amplify our reach across Africa and globally. Our motivation is driven by the growing international interest in Nigerian commerce; doing business here is becoming easier every day. Mutual partnership is key to our shared success. Thanks to the Hon. Minister of Trade & Investment, Dr. Jumoke Oduwole, a new partnership with RwandAir and Uganda Airlines under the African Continental Free Trade Area (AfCFTA) ensures all goods will be transported for under $2 USD per kg. So, we invite you to join our B2B expo to unlock real trade opportunities!
AS A SEASONED STAKEHOLDER, WHAT ARE THE TOP 2–3 TRENDS THAT INDUSTRY PLAYERS SHOULD LEVERAGE FOR COMPETITIVE ADVANTAGE RIGHT NOW?
Serious-minded business leaders looking to stay ahead of the curve must embrace Solar, CNG, Artificial Intelligence, and robotics. These game-changing technologies are exactly where the global market is heading. You can explore them firsthand and see live showcases from Vietnamese innovators at the upcoming Lagos International Trade Fair—the premier destination for forward-thinking professionals.
WHAT ARE THE TOP 2-3 MILESTONES THAT DEFINE YOUR SUCCESS IN MANUFACTURING?
As an industrialist, I believe you must truly love what you do. I don’t consider myself merely a businesswoman; I am an industrialist. While typical businesspeople often pack up and move when challenges arise, I am deeply passionate about manufacturing. I eat and drink paper. Hearing the steady hum of my machines brings me pure joy. This lifelong passion is exactly why Nigeria needs a booming paper industry—and it has the potential to become our second oil. Consider Egypt: with a much smaller population, they have around 25 functioning paper mills. In contrast, Nigeria’s population exceeds 250 million. If we had 100 paper mills, we would only be scratching the surface.
With our abundant raw materials and recycling capabilities, paper can become Nigeria’s second oil. We no longer have to rely on pulp-making trees like Gmelina that take years to harvest; we can use fast-maturing alternatives like bamboo and Kenaf, which take only 3 to 6 months to mature, alongside recycled waste. Countries like Finland and Norway have built their economies around the paper sector. It is a goldmine, and it is encouraging that the government is focusing on it. To fully unlock this potential, the Federal Government must establish a dedicated Paper Research Institute to relieve the Raw Materials Research and Development Council, which is already overwhelmed with other responsibilities. As investors, we must now take the lead by forming production clusters—generating 20 to 500 tonnes of paper daily—and utilizing portfolio managers to coordinate our banking operations and investments.
GIVEN THAT THE PULP AND PAPER INDUSTRY IS CONSIDERED A ‘GOLDMINE’ WITH HIGH DEMAND, WHAT IS THE BEST STRATEGY FOR A NEW ENTRANT TO START SMALL—PERHAPS IN SPECIALIZED PAPER OR RECYCLING—AND SCALE INTO A LARGE, SUSTAINABLE OPERATION?
The paper and packaging industry remains an economic goldmine, yet government policies threaten to cripple it. I have no objection to digitalisation, but Nigeria has copied this blindly. While digital growth is welcome, forcing all government agencies to abandon paper ignores Nigeria’s infrastructure deficits. They want every parastatal to go 100% digital. But let’s look at reality. If you get 500 emails a day, how many can you actually read? Maybe 100 if you’re a genius. What happens to the other 400? Important things slip through the cracks. Even in America and Europe, where digitalization started, paper isn’t dead. Their post offices are booming, and they still print millions of ballots. We cannot blindly copy the West when we lack the infrastructure. If you take digital voting equipment to remote villages in Ogidi or Iwo with no constant power or internet, how will our people vote? Yet, companies right here in Nigeria, like FAE, make world-class waterproof election envelopes that other African nations queue up to buy. Why isn’t Nigeria using them? Think about the massive investments in 12-colour printing machines that are now gathering dust. Think about the thousands of jobs lost. We cannot stay silent any longer. Foreign investors from India and China are building paper mills here because they believe in this market. Our government should too. We must wake up, unite with one voice, and demand legislative backing to protect our livelihoods. The Printing and Publishing Group must unite now to secure legislative protection and advocate for a hybrid approach that serves all Nigerians.
WHILE MANY STUDIES SUGGEST THAT MOST FAMILY BUSINESSES FAIL TO SURVIVE PAST THE FIRST OR SECOND GENERATION, YOUR COMPANY HAS SUCCESSFULLY THRIVED FOR THREE GENERATIONS. GIVEN THE UNIQUE CHALLENGES WITHIN THE NIGERIAN BUSINESS LANDSCAPE, WHAT ARE THE TOP THREE PIECES OF ADVICE YOU WOULD GIVE TO ANYONE CURRENTLY PLANNING THEIR SUCCESSION?
Whenever I advise on family businesses, structure is always my number one piece of advice. Whether you run a one-man shop or a multi-generational company, clearly defined operations are essential. My second piece of advice is to be entirely fair and objective. Avoid the trap of exploiting your children’s labour under the guise of ‘training’. Your duty as a parent doesn’t exempt you from being a fair employer. Children working in the business should be promoted, compensated, and granted the same benefits as any other staff member. Selfishness is a leading cause of family business collapse. Treating family employees unequally will breed resentment and may even deter in-laws from supporting their spouses’ continued involvement in the firm. When done right, family business is an incredible journey. For the past 52 years, I have built my life around this philosophy, growing FAE Limited into its third generation and establishing it as the largest envelope manufacturer in Nigeria and sub-Saharan Africa.
WHAT KEY ACTIONS SHOULD MANAGEMENT TAKE TO FOSTER A SUPPORTIVE ENVIRONMENT THAT MAXIMIZES STAFF POTENTIAL AND LONG-TERM BUSINESS SUCCESS?
At FAE, we maintain a corporate culture rooted in equity. When employees demonstrate loyalty and hard work, they are promoted and rewarded financially. Business success should be shared; as the company grows, our team should prosper too. There is no room for envy here. In fact, I am proud to share that at least five of our staff members have built their own homes through their hard work, not dishonesty. I frequently share their success stories to motivate the rest of our team.
WHAT’S THE SECRET TO NURTURING BUSINESS RELATIONSHIPS THAT DRIVE REAL, SUSTAINABLE GROWTH?
Different leaders, different styles. My secret? We run this company together. We share burden: If I have a headache, my team feels it. We also share success: When we profit, we all share the wealth. Some owners wonder why they should split profits after funding the start-up alone. My view? The more the merrier. Because we make decisions together, protect each other, and act proactively, my team is completely unpoachable. True loyalty is built on shared victories.
WHAT STRATEGIES HAVE YOU FOUND MOST EFFECTIVE FOR BUILDING CREDIBILITY AND INFLUENCE IN A MALE-CENTRIC ENVIRONMENT?
I respect men as fathers, husbands, and colleagues, and I expect that same respect in return. In Nigeria, there is often an ego-driven expectation for women to stay in the background. I don’t subscribe to that. I am highly educated and believe that anything a man can do, a woman can do too. I am financially independent, unintimidated, and fully committed to reaping the rewards of the investments I’ve made in myself and my business. I believe no woman should ever be intimidated or abused because of her sex, and we are here to ensure they never have to face it alone. That is why I proudly serve as the Board Chairman of the UN-supported, private-sector-led Gender-Based Violence (GBV) Fund in Nigeria. In this role, I lead the board governing the Empower Her GBV Initiative, a multi-million-dollar fund dedicated to building safety, providing survivor support, and expanding economic opportunities for women nationwide.
WHAT ADVICE WOULD YOU GIVE TO OTHER WOMEN LOOKING TO BREAK INTO LEADERSHIP ROLES?
My absolute top advice can be summed up in three words: education, education, and education. To stay ahead, make continuous learning and retraining your priority. Here is how to put this into action:
- Earn Professional Certifications: Elevate your credibility by joining and completing exams for top-tier bodies, such as the Institute of Chartered Accountants of Nigeria (ICAN) for accounting and finance.
- Join Industry Associations: Surround yourself with like-minded professionals in your specific field. For instance, manufacturers/industrialists should join the Manufacturers Association of Nigeria (MAN).
- Unlock Sector Incentives: Align with niche groups—such as local export associations—to stay informed about and easily capitalize on government grants, policies, and industry incentives.
Ultimately, your greatest career and business asset is your commitment to continuous retraining.
WHAT IS YOUR ADVICE TO YOUNGER WOMEN IN THE INDUSTRY ON CAREER DEVELOPMENT?
As I mentioned, it’s all about continuous learning. Take AI, for example—no matter how much experience I have, I’m training in AI right now because I refuse to get left behind. If you want to stay on top of your game, you have to keep pushing yourself to learn.
HOW DID YOU TURN RECENT REGULATORY CHANGES OR ECONOMIC INSTABILITY (E.G., FOREX, TAX, REGULATORY COMPLIANCE, POLICY SHIFTS, ETC.) INTO AN OPPORTUNITY FOR RESILIENCE?
Whether this is a problem depends on how your business is run. Strong corporate governance is the key to success. It ensures compliance—such as proper tax payment—and builds the organizational integrity needed to confidently push back against regulatory overreach. By avoiding shortcuts and operating responsibly, you can achieve sustainable profitability.
WHAT KEY POLICY ADVICE WOULD YOU GIVE TO THE GOVERNMENT TO ENSURE POWER SECTOR REFORMS ARE BOTH HOME-GROWN AND EFFECTIVE, DELIVERING TANGIBLE, POSITIVE IMPACTS FOR THE GENERAL PUBLIC?
Politics aside, things have improved, but the power sector remains broken due to a lack of political will. The government needs to enforce real accountability—hire the right people and fire those who fail. For years, every administration has made empty promises while private alternative energy investors did the heavy lifting. If the government wants to give citizens room to breathe, it must take strict control of its failing parastatals.
WHAT ARE THE KEY RELATIONSHIP TIPS YOU DISCOVERED THAT YOU KNOW WILL BE VITAL TO BUSINESS GROWTH AND SUSTAINABILITY?
Effective operations are rooted in solid corporate governance and rigorous staff training. However, accountability remains key; employees who consistently fail to meet expectations or disrupt company culture should be transitioned out of the organization.
WHAT RECENT CHANGE(S) TO YOUR ROUTINE THAT HAVE MADE THE BIGGEST DIFFERENCE IN YOUR DAILY EFFICIENCY?
The positive changes are already visible in my new role as the Chairperson of the Trade Promotion Board. I am deeply grateful to God, our Board of Trustees (BOT), and our past presidents for entrusting me with this leadership. I pledge to honour their trust and build upon the incredible foundation laid by my predecessors. On my honour as a woman, we are breaking barriers and shattering glass ceilings to drive meaningful transformation. This is a collective effort. Through our tireless work to ensure the success of the 2026 Lagos International Trade Fair, I am confident that our entire team will ultimately be celebrated for a job exceptionally well done.
WHAT ARE YOU GRATEFUL FOR?
I am profoundly grateful to God for the gift of life, my family, and my husband, Otunba Abiodun Adewale Okeowo, whose unwavering support has been my foundation for success. My sincere thanks also go to the Board of Trustees, the Trade Promotion Board, our dedicated team, partners, and exhibitors. We promise you that this year’s show will be bigger and better than ever—because celebrating 40 years is truly a monumental milestone.
THANK YOU FOR YOUR TIME.
Thank you too.
About PRINCESS LAYO BAKARE-OKEOWO
Princess Layo Bakare-Okeowo is an accomplished business executive with extensive expertise in manufacturing, corporate administration, business development, strategic leadership, and retail expansion. As founder of FAE Group of Companies (comprising FAE Limited, the largest manufacturer of envelopes in Nigeria and sub-Saharan Africa, Mart Supermarket, also known as Mart 24/7, the popular, continuously open retail and grocery chain in Lagos, Nigeria, among others), Princess is a lover of God, and a mother of three outstanding individuals in their respective fields as well as the family businesses.
As an industrialist, she has successfully driven the transformation of a family-owned stationery business into a modern, innovation-focused manufacturing enterprise recognized for quality, reliability, and customer satisfaction. Founded in 1974 by her late mother, Princess Florence Adu-Bakare, FAE Limited began as a stationery merchandising business. Princess Layo joined the organization over four decades ago and steadily rose through the ranks, acquiring extensive hands-on experience in business operations, production management, customer relations, and corporate leadership. Following the passing of the company’s founder, she assumed leadership responsibility and spearheaded the company’s remarkable growth and modernization. Under her direction, FAE Limited expanded its manufacturing capacity from 10,000 units daily to over 500,000 units daily, while significantly increasing profitability, revenue growth, operational efficiency, and regional distribution. Today, FAE Limited serves major organizations across banking, telecommunications, education, logistics, government institutions, and corporate sectors, providing innovative envelope and packaging solutions that meet international standards.
Princess Layo Bakare-Okeowo serves on multiple private, philanthropic, and governmental boards to drive trade, innovation, and economic growth. Her contributions to industrial development, entrepreneurship, corporate leadership, and philanthropy have earned her widespread local and international recognition.
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