2023: Lagos Interna­tional Trade Fair Kicks Off Amidst Economic Challenges

Governors Babajide Sanwo-Olu of Lagos State says the Lagos International Trade Fair has the potential to generate and woo Foreign Direct Investment into the country as well as reduce the pressure on the currency.

Sanwo-Olu in an address to the opening of the 2023 annual trade fair delivered by the Honourable Commissioner of Commerce, Cooperatives, Trade and Investments, Folashade Ambrose-Medebem, said the country needs to leverage the 10-day event to drive more investment and also become more apparent.

“The Chamber is providing another huge 10-day window for businesses to showcase their products and services, gain great marketing mileage and fresh opportunities for networking with other businesses. The platform is timely, very strategic, and transformative as it will further build the investment ecosystems to support more competitive investment opportunities in Nigeria.”, he said.

The governor assured investors and other stakeholders that the Lagos State Government remains committed to providing a friendly and conducive business environment for the Organised Private Sector through continuous engagement in the implementation of policies, regulations and projects as they impact the business prosperity of the State.

“I want to reassure you that the Lagos State Government would continue to be your partner in progress towards ensuring a conducive business environment for investments to thrive in the State.

We are very much aware that our quest to move Lagos, our dear State, from Nigeria’s biggest commercial city to become a mega or smart city, running on 21st Century Economic dynamics, will depend, to a large extent, on our political will to effectively tackle various challenges confronting businesses such as inadequate infrastructure, inadequate power, security and others.

For us, we see the challenges as great opportunities for further investment and our administration is not only working assiduously to change the narratives, but we are also ready to work with willing investors to expand the infrastructure for the benefit of our businesses in particular and our State and nation in general.”

For the President of Lagos Chamber of Commerce and Industry, Dr. Michael Olawale-Cole, the theme for this year’s trade fair reflects the reality being faced and in a different sense underscores the determination of the Nigerian business community to overcome its many hurdles of existence, survival, and growth.

“The importance of such a theme cannot be overstated. It calls upon us to acknowledge the difficulties we face while inspiring us to seek solutions, embrace new opportunities, and develop innovative strategies to foster economic growth”, he stated.

Dr. Olawale-cole urged all present to forge partnerships, strike deals, and seize the opportunities that will drive businesses, this nation and the African continent to new heights.

The 2023 Lagos International Trade Fair which is the 37th edition will last 10 days running from November 3rd to 12th and will feature different activities and days when industries will host and showcase their products and services.

Organised by the Lagos Chamber of Commerce and Industry, the fair has the theme; ‘Connecting Businesses, Creating Value.’

Olusola Akintonde