Lagos State Governor, Babajide Sanwo-Olu, has pledged that the state would continue to promote various products and services made in Lagos by micro, small and medium enterprises (MSMEs).
Sanwo-Olu also called on local and international investors to support and partner MSMEs to scale up products and services to break into the global market.
With collaboration, he said, there would be a reasonable return on investment for small businesses in Lagos and the entire country.
Speaking at the closing ceremony of the 8th Lagos MSMEs Exclusive Trade Fair held at the Y-Arena Awolowo Road, Ikoyi, Sanwo-Olu explained that the fair is a marketing platform to promote the products and services of entrepreneurs in the state at no cost.
The governor, represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, noted that the trade fair has been a period of networking among the MSMEs and visitors, along with fruitful deliberation during the Business Clinics, facilitated by critical stakeholders
He acknowledged the contribution of the sector as a catalyst of a viable economy, stressing that the state will continue to promote various range of products and services that are made in Lagos through the sector.
”MSMEs remain a major factor in creating employment and wealth, generating income, improving standard of living and enabling investment opportunities for profit. Your developmental role is not only significant but highly commendable. This is why I must draw the attention of investors to take advantage of the opportunities in this sector to grow the economy of the state.
“I must emphasise that we have obtained much feedback from this Fair. These will help the State Government greatly in planning for future events and improving our service delivery towards making Lagos A 21st Century Economy.
“The theme of this 8th edition of Lagos MSMEs Exclusive Trade Fair: ‘Empowering MSMEs for AfCFTA Excellence through Sustainable Economic Growth’, is appropriate and well-timed. It speaks to the T.H.E.M.E.S Plus Development Agenda of Governor, including the steps being taken to position women and youths to explore the benefits of AfCFTA and the global market in general.
“In the last five days of this great fair, we have impacted and increased the local economic activities of the Lagos Division. Through the engagement of entrepreneurs, vendors and artisans dealing in marquee, shell scheme (booths), carpenters, electricians, food, chair and table rentals, cleaners and others, we have generated employment and improved standard of living,” he said
He said the state remains resolute in empowering individuals and groups that can drive the growth of MSMEs as he vowed to sustain the convocation of the fair to activate more economic activities at the local level.
The governor added that the state government will develop a compendium of Lagos MSMEs in sectoral form to have a proper database as well as continue to strive to drive investment inflow and attract both Domestic and Foreign Direct Investment to the State through MSMEs.
Representative of the exhibitors, Bosun Solarin, acknowledged the efforts of Sanwo-Olu for the inclusive government that has brought together MSMEs and urged the government to continue the stride in that regard.
Others at the event commended Lagos State for allowing exhibitors to display their products for six days at the venue free of charge.
