By Merit Ibe
Lagos State Governor, Mr Babajide Sanwo-Olu, yesterday declared the 2022 Lagos International Trade Fair formally closed, while assuring investors of a better business climate consistent with the state dream of becoming Africa’s Model City.
The 36th Edition of the 10- day event, held at the Tafawa Balewa Square (TBS), Lagos, had as its theme: “Connecting Businesses, Creating Value’’.
In all over 3,500 exhibitors participated in the fair organised by the Lagos Chamber of Commerce and Industry (LCCI).
Sanwo-Olu, represented by the Secretary to the state government, Sherifat Folashade Jaji, assured members of the business community that his administration was committed to improving the business environment towards making it more attractive for investment.
He noted that there was need for deliberate and meaningful engagement with key stakeholders in order to enhance an understanding of the positive impacts of networking in business.
“This can form a basis for continuous assessment of the benefits and development of strategic roadmap towards its long term implementation, while drawing on the strength of E-Commerce or digital marketing.
“These will help to reduce overhead cost, increase profit and create more wealth among other benefits.
“Without any doubt, the challenge of benchmarking the State against global best practices, making it a model for others to follow and growing it to become a befitting smart city that is comparable to any of its kind is a very herculean task. Yet, it is achievable.”
To this end, the governor said the administration has done a lot to improve the business environment through the implementation business friendly policies to improve the ease of doing business in the state, incentives and our unrelenting commitment to infrastructural development and renewal.
Also speaking, Mrs Lola Akande, Lagos State Commissioner for Commerce, Industry and Cooperatives, said the government would continue to partner LCCI for the success and sustenance of the annual event.
Akande said the government’s participation in the fair was one of the many ways it was promoting and supporting Micro, Small and Medium Enterprises ( MSMEs) in the state.
“For instance, with the efforts of the State Government, technology entrepreneurs have come to know that Lagos State is one of the most improved environments to do business…”
This is not only an attribution to its large market size and dynamic labour force, but an acknowledgement of its regulatory and civic friendliness to technological development. More than other places in the Federation, Lagos has experienced tremendous share of growth in terms of tech start-ups.”
Akande said the government was taking giant strides to create an enabling environment for entrepreneurship development and business prosperity.
In his remarks, president of the chamber, Michael Olawale-Cole acknowledged the cooperation and support of stakeholders and participants as well as the peace that prevailed throughout the 10-day fair.
He noted that it was heart warming that participants had rewarding business interaction, commending their resilience and optimism.
“It is our hope that government at all levels would continue to address the issues of enabling environment in the country, especially as regards infrastructure, insecurity, right policies to fix the key drivers of inflation.
“We need to do this to fully harness the huge enterprising resources of domestic and foreign investors for the diversification of our economy and welfare of our people.”