Merit Ibe
President Muhammadu Buhari has assured the nation that the focus of his administration is to diversify from the product economy, with a special focus on the non-oil sector, using the private sector as the arrow- head.
To achieve this goal, he disclosed that his government has made concerted efforts at enhancing the export expansion grant initiative, which is given to deserving exporters using the Bank of Industry (BoI) as a tool to implement the Small and Medium Enterprises (SMEs) scheme in an effort towards assisting the industrial and SMEs sub-sector.
The president made the remark, when he declared open, the 2019 International Trade Fair, at the Tafawa Belewa Square, Lagos, organised by the Lagos Chamber of Commerce and Industry (LCCI).
Represented by the Minister of State, Federal Ministry of Industry, Trade and Investment, Maryam Katagum, Buhari explained that the task of transforming Nigeria into an industrial giant, could not be achieved without the collaboration of the private sector to ensure an inclusive and sustainable part towards growth, job creation and economic development.
He therefore, called for support of the private sector to positively change the narrative, by teaming up with the Federal Government in the drive.
“ As you are aware, the increasing number of unemployed youths vis-à-vis the non availability of white collar jobs has made a financial development a viable platform to deploy in the hands of these job seekers and economically empower them.It therefore implies that all enablers must be provided to encourage the start of business by would- be entrepreneurs.”
He stated that the institutions of BOI, small and medium enterprises development association of Nigeria (SMEDAN), NEPZA and the ITF can develop robust programmes to stimulate business and entrepreneurship in the country.
Buhari was definite of his administration’ s commitment to its mandate of providing assistance that will guarantee the growth of SMEs and ensure that their products meet with acceptable global standards. To this end, the president reiterated his call to Nigerians to patronize made- in-Nigeria products and services.
On the trade fair, the president said the aim of the fair which is to connect businesses and create value is meant to empower African entrepreneurs through the bridging of technological gaps,developing and improving local business strategies, championing strategic investment and creating access to markets, thereby developing the economy.
Also speaking at the event, Lagos State Governor, Babajide Sanwo-Olu, commended the chamber for for consistently providing various marketing support and other activities such as the fair for networking and public advocacy.
The governor, who was represented by his deputy, Dr Kadiri Hamzat, assured the LCCI that the state government would continue to partner the chamber to ensure the business environment is made more conducive for business and investment to thrive.
He assured captains of industry that as its commitment to promoting and connecting businesses remain strong and unshaking, the state government would ensure that the state becomes 24th century economy, which has always supported the the growth of the economy through the ease of doing business, innovative incentives, interventions and quality delivery.
President of the the LCCI, Babatunde Ruwase, who welcomed dignitaries at the ceremony, said the 2019 trade fair, which is largest exhibition in West Africa, was the 33rd edition. He disclosed that the theme of this year’s fair, which is Connecting Businesses, creating values, underscores the importance of a robust business interaction to generate wealth and create value for the advancement of the economy and the welfare of the citizens. He hinted that the difference in the 2019 trade fair is the new initiative, which is the creation of a special hall for exhibitors from other African nations tagged”African Hall”. The initiative is creating a platform for African products to be showcased to the world.
He was optimistic that the goal to rank among top 70 countries on the Doing business ranking by 2023 was achievable, he therefore, called for combined efforts of the government and private sector to to achieve the objective..