Governor Babajide Sanwo-Olu of Lagos State has urged local and international investors to collaborate in fostering the growth of Micro, Small, and Medium-Scale Enterprises (MSMEs), News About Nigeria reports.
The governor said that there is a need for partnership to propel Nigeria into successful participation in the African Continental Free Trade Area (AfCFTA).
During the closing ceremony of the 8th Lagos MSMEs Exclusive Trade Fair, themed “Empowering MSMEs for AfCFTA Excellence Through Sustainable Economic Growth,” Governor Sanwo-Olu said that the fair was a platform promoting the products and services of local entrepreneurs at no cost.
Represented by Folashade Ambrose-Medebem, the Commissioner for Commerce, Cooperatives, Trade, and Investment, Governor Sanwo-Olu emphasised the MSME sector’s importance in raising living standards, producing revenue, and creating jobs as a driver for the economy to grow.
To strengthen the state’s economy, the governor invited investors to take advantage of the opportunities found in the MSME sector.
He pointed out that the fair had produced valuable suggestions that helped the state government plan further events and enhance the quality of services it provided.
“In the last five days of this great fair, we have impacted and increased the local economic activities of the Lagos division.
“Through the engagement of entrepreneurs, vendors and artisans dealing in marquee, shell scheme (booths), carpenters, electricians, food, chair and table rentals, cleaners and others, we have generated employment and improved standard of living,” he said
In addition to affirming the state’s commitment to empowering people and organisations that can spur MSME growth, Governor Sanwo-Olu promised to keep the fair’s gathering going to stimulate more local economic activity.
He also disclosed intentions to create a sector-by-sector compendium of Lagos MSMEs to create a thorough database and continue attracting investment into the state via MSMEs.
