Sanwo-Olu entices investors to support Micro, Small, and Medium Enterprises (MSMEs)
Mr Babajide Sanwo-Olu, the Governor of Lagos State, has urged both local and international investors to collaborate with Micro, Small, and Medium Enterprises (MSMEs) in the state. The goal is to enhance the scale of their products and services, enabling them to penetrate the African Continental Free Trade Area and the global market.
The governor emphasized that such partnerships would yield significant returns on investment for small businesses operating in Lagos and Nigeria as a whole. Speaking at the conclusion of the 8th Lagos MSMEs Exclusive Trade Fair held at the Y-Arena on Awolowo Road, Ikoyi over the weekend, Sanwo-Olu highlighted the fair as a valuable platform for promoting the products and services of local entrepreneurs without any associated costs.
During the closing ceremony, the governor, represented by Mrs Folashade Ambrose-Medebem, the Commissioner for Commerce, Cooperatives, Trade, and Investment, recognized the MSME sector as a crucial driver of a robust economy. He assured that the state would persist in promoting a diverse range of products and services originating from Lagos through continued support for the sector.
"Micro, Small, and Medium Enterprises (MSMEs) continue to play a pivotal role in fostering employment, wealth creation, income generation, and enhancing the overall standard of living. Your crucial developmental contributions are not only noteworthy but also deserving of commendation.
Hence, I would like to highlight the importance of investors capitalizing on the opportunities within this sector to contribute to the growth of the state's economy.
It is essential to underscore that we have received valuable feedback from this Fair, which will significantly aid the state government in planning for future events. This input will also contribute to enhancing our service delivery, aligning with our vision to transform Lagos into a 21st-century economy."
"The chosen theme for the 8th edition of the Lagos MSMEs Exclusive Trade Fair, 'Empowering MSMEs for AfCFTA Excellence through Sustainable Economic Growth,' is not only apt but also well-timed. It aligns with Mr. Governor's T.H.E.M.E.S Plus Development Agenda, highlighting the ongoing efforts to empower women and youth to leverage the benefits of AfCFTA and the global market.
"Over the past five days of this remarkable Fair, we have significantly impacted and boosted local economic activities in the Lagos Division. Through the involvement of entrepreneurs, vendors, artisans dealing in marquee, shell scheme (booths), carpenters, electricians, food services, chair and table rentals, cleaners, and others, we have generated employment and enhanced the standard of living," he stated.
The governor affirmed the state's commitment to empowering individuals and groups capable of driving MSME growth. He pledged to sustain the hosting of the Fair to activate more economic activities at the local level. Furthermore, he announced plans to develop a comprehensive compendium of Lagos MSMEs in sectoral form to establish a proper database. The government will also continue efforts to attract domestic and foreign direct investments to the state through MSMEs.
Mrs. Bosun Solarin, the representative of the exhibitors, commended the governor for fostering an inclusive government that brings together MSMEs. She urged the government to persist in this direction. Other participants at the event praised Lagos State for allowing exhibitors to showcase their products at the venue free of charge for six days."
Leave A Comment