LAGOS STATE GOVERNMENT TO POSITION SMEs FOR OPPORTUNITIES IN THE NATION’S ECONOMIC CHALLENGES
Written by Oyebamiji Idowu on December 12, 2023
Governor Babajide Sanwo-Olu has challenged Small and Medium Scale Enterprises (MSMEs) to leverage the opportunities presented by the nation’s economic challenges to grow their businesses and contribute to the nation’s Gross Domestic Product (GDP).
Speaking at the opening ceremony of the eighth Lagos MSMEs Exclusive Trade Fair, Governor Sanwo-Olu, represented by Deputy Governor Dr. Obafemi Hamzat, highlighted the abundance of opportunities within the state, urging businesses to formalize operations to gain visibility in the thriving market. He emphasized the significant government support provided to MSMEs.
Addressing the issue of the “Japa syndrome,” the Deputy Governor urged Nigerians to showcase the nation in a positive light, particularly on social media platforms. He stressed the importance of avoiding negative narratives that could impact the global perception of Nigeria and deter investment.
Professor Sunday Adebisi, a professor of Entrepreneurship Hub and Strategic Management at the University of Lagos, served as the event’s guest speaker. He stressed the need to encourage young people to remain in the country and utilize their talents to drive economic growth.
The Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, highlighted the benefits of the five-day trade fair, including networking opportunities for businesses and training sessions on product packaging and consumer appeal.
This exclusive trade fair provides a valuable platform for MSMEs to learn, network, and grow their businesses. By embracing opportunities and overcoming challenges, MSMEs can contribute significantly to the nation’s economic development.