Lagos State Governor Babajide Sanwo-Olu has called on local and international investors to partner Micro Small and Medium Enterprises (MSMEs) and scale up their products and services so they can break into African Continental Free Trade Area (AfCFTA) and global market.
Sanwo-Olu said with the collaboration, there will be a reasonable return on investment for small businesses in Lagos and Nigeria.
The governor made the call at the closing of the eighth Lagos MSMEs Exclusive Trade Fair at Ikoyi, with the theme ‘Empowering MSMEs for AfCTA Excellence through Sustainable Economic Growth’. He described the fair as ‘a marketing platform to promote the products and services of entrepreneurs in the state at no cost’.
Sanwo-Olu, represented by the Commissioner for Commerce, Co-operatives, Trade and Investment, Mrs. 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.
He said,
“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 in order to grow the state’s economy.
“I must also emphasise that we have obtained many feedback from this fair, and they will help the government in planning for future events and improving on our service delivery towards making Lagos A 21st Century Economy.
“The theme of this eighth edition of the Lagos MSMEs Exclusive Trade Fair is appropriate and well-timed. It speaks to the T.H.E.M.E.S Plus Development Agenda of Mr. 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.”
