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In a bid to elevate Micro, Small, and Medium Enterprises (MSMEs) in Lagos State onto the global stage, Governor Babajide Sanwo-Olu has called upon local and international investors to engage in partnerships with these businesses. The governor believes that such collaborations will enable small enterprises to expand their products and services, facilitating entry into the African Continental Free Trade Area (AfCFTA) and the global market.
Governor Sanwo-Olu emphasized the potential for a significant return on investment through this strategic cooperation, providing a boost to both small businesses in Lagos and the broader Nigerian economy.
Addressing attendees at the closing ceremony of the 8th Lagos MSMEs Exclusive Trade Fair held at Y-Arena on Awolowo Road, Ikoyi, the governor highlighted the fair as a valuable marketing platform for entrepreneurs in the state, emphasizing that it served this purpose at no cost.
Represented by the Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, Governor Sanwo-Olu recognized the MSME sector's pivotal role as a catalyst for a vibrant economy. He pledged the state's commitment to promoting a diverse range of products and services originating from Lagos through sustained support for the sector.
"MSMEs remain a major factor in creating employment and wealth, generating income, improving the standard of living, and enabling investment opportunities for profit," remarked the governor's representative. She urged investors to seize the opportunities presented by the sector for economic growth.
The theme of the 8th edition of the Lagos MSMEs Exclusive Trade Fair, "Empowering MSMEs for AfCFTA Excellence through Sustainable Economic Growth," aligns with Governor Sanwo-Olu's T.H.E.M.E.S Plus Development Agenda. The agenda focuses on positioning women and youths to leverage the benefits of AfCFTA and the global market.
Governor Sanwo-Olu affirmed the positive impact of the fair on the local economy, citing increased economic activities in the Lagos Division over the five days. He acknowledged the engagement of entrepreneurs, vendors, and artisans, emphasizing the generation of employment opportunities and improved living standards.
The governor pledged to sustain the fair as a means of activating more economic activities at the local level. Additionally, he announced plans to develop a comprehensive compendium of Lagos MSMEs in sectoral form to establish a proper database. The state government aims to continue driving investment inflow, attracting both domestic and foreign direct investments through the MSME sector.
Representatives of the exhibitors, including Mrs. Bosun Solarin, commended Governor Sanwo-Olu for fostering an inclusive government that unites MSMEs. They urged the government to persist in this inclusive approach, recognizing the significance of allowing exhibitors to showcase their products at the venue free of charge for six days.
