The Governor of Lagos State, Mr. Babajide Sanwo-Olu, has invited domestic and foreign investors to collaborate with local micro, small, and medium enterprises (MSMEs) to enhance their productivity, quality standards, and access to finance. This support will empower Lagosian MSMEs to expand sales in the African Continental Free Trade Area (AfCFTA) agreement and global export markets.
Gov. Sanwo-Olu highlighted the opportunity at the closing event of the 8th Lagos MSME Exclusive Trade Fair held in Ikoyi, noting that partnering with MSMEs will deliver reasonable returns on investment while catalysing inclusive economic growth.
MSMEs are pivotal to job creation, income generation, and poverty reduction in Lagos State, Nigeria’s commercial nerve center. By scaling their output capacities, product quality, and market linkages, Lagosian MSMEs can better supply regional and international buyers, thereby boosting incomes and living standards.
The trade fair offered a vital marketing platform for Lagos MSME entrepreneurs to showcase Made-in-Nigeria goods to thousands of visitors without incurring additional costs. The well-timed theme “Empowering MSMEs for AfCFTA Excellence Through Sustainable Economic Growth” aligns with the state government’s T.H.E.M.E.S. development agenda.
Commissioner for Commerce, Industry, and Investment, Mrs. Folashade Ambrose-Medebem, reiterated Lagos State’s commitment to continue promoting locally manufactured products and services through policies, programmes, and events that connect MSMEs to larger markets.
The government will also document Lagos MSMEs in a sector-wise database, drive further investment and FDI attraction to the state’s MSME space, and sustain the annual trade fair to stimulate grass-roots economic opportunities.
The trade exhibition and MSME support initiatives have received positive feedback while enabling participants to access a larger customer base. Representatives welcomed the inclusive approach to catalyse bottom-up growth.
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