LAGOS MSMEs TRADE FAIR HAS CONTRIBUTED TO ECONOMIC DEVELOPMENT OF NIGERIA – COMMISSIONER
Lagos State Commissioner for Commerce, Industry and Cooperatives, Mrs. (Dr.) Lola Akande, on Monday, said the Lagos State Micro, Small and Medium Enterprises trade fair has contributed significantly to the economic development of the State and Nigeria.
The Commissioner made this known during the opening ceremony of the 5th Lagos State Micro Small and Medium Enterprises Trade Fair in Alausa, Ikeja, noting that some of the contributions can be traced to the increase in the Gross Domestic Product (GDP), employment generation and wealth creation in the State.
Speaking on the theme, “Role of Technology in the Success of MSMEs in the New Normal: Taking African Trade by Storm”, Dr. Akande stated that the right application of technological tools is essential for businesses to thrive in the post-COVID-19 era.
She advised that MSMEs need to adapt to the new normal while governments at all levels should continue to support them in mitigating the adverse effects of the global pandemic.
The Commissioner reiterated that the administration of Governor Babajide Sanwo-Olu will continue to provide platforms for entrepreneurs to get the necessary valuable traction essential for business development.
“The administration consciously emphasises trade promotion in line with the fourth pillar of the Themes Agenda of “Making Lagos a 21st Century Economy”, she noted.
According to her, the administration of Governor Sanwo-Olu has provided businesses with requisite physical infrastructure, part of which is the 44 factory Units in Imota Light Park to complement the Small Scale Industrial Estates at Mushin and Isolo as well as the Industrial shed at Sabo in Ikorodu.
While commending the State government’s commitment to creating access for MSMEs to showcase their products and services, Dr. Akande noted that Lagos State is working towards collaborating with the National Action Committee on African Continental Free Trade Area Agreement (AFCFTA) to achieve positive growth in businesses and economic collaboration.
The Commissioner assured MSMEs that the government will stop at nothing to sustain an enabling business environment in partnership with the private sector for MSMEs operators and stakeholders to work hand in hand with the State Government as a valuable partner in its economic progress.
Also speaking at the event, the Chairman, NASSI Lagos State, Mrs. Gertrude Akhimen, pointed out that for sustainability of the the MSMEs sector growth, industries must be protected from multiple taxes by different agencies of the government and there should be a strategic policy for ease of doing business in Lagos State.
She emphasised that there is a need to reorientate residents on the economic importance of patronising Made in Nigeria products, through the various media platforms, as this will ingrain the messages in the minds of the people.
The Chairman implored MSMEs to take advantage of the economic opportunity to create the right product and service at the right price by carrying out market surveys, saying that this will enable them to have a thorough understanding of the market, their competition and the latest trends in order to capture the market segment for their products.
While delivering a paper on the theme of the event, the former Director-General, Lagos Chamber of Commerce and Industry, Mr. Muda Yusuf, stated that technology is a major tool for the building of resilience of MSMEs, hence there is a need to embrace technology in all aspect of economic growth.
He said the application of technology to the production, administration and marketing of businesses makes processes smarter, efficient and cost-effective.
Dr. Yusuf, however, implored all Small Scale Enterprises to leverage the use of social media platforms for the growth of their businesses.
KO/TMS/OS
CAPTION:
Pix 1: (L-R) the Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mrs. Olatokunbo Emokpae; the Chairman, NASSI, Mrs. Gertrude Akhime; Commissioner for Commerce, Industry and Cooperatives, Mrs. (Dr.) Lola Akande; the National President of NASSI, Chief Solomon Bonfa; Former Director-General, LCCI, Dr. Muda Lawal and the Director, SMEDAN, Ms. Gloria Nwavamu, at the opening ceremony of the 5th Lagos NASSI (MSMEs) Trade Fair at Alausa on Monday.
