Lagos State Governor, Mr. Babajide Sanwo-olu on Tuesday said his administration is putting in place the needed support systems required to enable MSMEs in the state to meet the set target of exporting to Africa and beyond.
This, the governor said intended to increase the productivity of entrepreneurs, improve the well-being of the citizenry, and set the State on the path of sustainable economic growth. He also said that the future of the state is economically bright, given the right dedication and rights engagement.
He said this at the opening ceremony of the 8th edition of the Lagos State MSMEs Exclusive Trade Fair, which is designated as an annual marketing access and intervention platform for Lagos MSME operators to showcase their products and services to the larger population of the State and Nigeria at large.
The governor added that the exclusive trade fair is meant to facilitate exposure, patronage, networking, and capacity-building opportunities, for SME operators, which he said would collectively lead to wealth generation for small business owners.
While highlighting the importance of small and medium-scale enterprises to national economic development, Governor Sanwo-Olu, who was represented by his deputy, Dr. Hamzat Obafemi Kadri, noted that the title of the year’s edition of the Fair: “Empowering MSMEs for AFCFTA Excellence through Sustainable Economic Growth’’ is quite important, as it resonates with the state mantra of transforming the state into a 21st-century economy, in line with our T.H.E.M.E.S+ Development Agenda, and alignment with the economic diversification agenda of the Federal Government.
He said, given the prevailing economic uncertainties and the need to appropriate benefits of the nations signing of the African Continental Free Trade Agreement, it is imperative to position operators of micro, medium, and small-scale enterprises for them to take advantage of the continental agreement by providing the platform and exposing them to the set of skills required to accelerate the effectiveness of AfCFTA in stimulating intra-African Trade.
Sanwo-Olu said doing this would not only qualify them as better players among their African counterparts, but he noted it would also boost aggregate national productivity, added value is an important strategy to acquire and retain customers, increase brand awareness, and differentiate one’s place in the African Continental Free Trade Agreement.
Among other efforts towards making Lagos a 21st-century economy, Sanwo-olu said the state has continued to provide support in the form of access to the market through the annual organization of the annual MSMEs Exclusive Trade Fair and other exhibitions, including the participation at the Lagos International Trade Fair.
He added that they have equally been providing access to finance through agencies such as the Lagos State Employment Trust Fund, and we are also ramping up the provision of infrastructure such as the 44-unit Light Industrial Park, Imota, construction of roads and bridges, completion and operation of the Lagos Blue Light Rail and many others. These efforts are geared towards assisting entrepreneurs and business owners to mitigate challenges hindering market access, finance, production, and movement of goods and services across the State.
He said: “Our administration also initiated the idea of the Leather and Fashion Hubs and renovation of all State-owned industrial estates to encourage production, aid this sector in breaking into the economic cycle, and gain access to the AfCFTA market.
The governor however noted that despite gains recorded by the state, “the challenge of benchmarking our State and positioning her as a foremost shining global Mega City and prime investment haven that is paramount to us. In light of this, the provision of promotional tools that encourage the establishment and growth of businesses remains one of the major priorities of our administration’ he said.
“Our administration will designate a cluster for selected exportable products and provide the required system, including collaborations with relevant Federal Government agencies, to facilitate the export of MSMEs products.
