‘Cost of infrastructure for fairs burdensome for exhibitors’

The Lagos State government has explained its drive to expand the Micro Small and Medium Enterprises’ (MSMEs) sector, noting that opportunities in the sector remains untapped and has capacity for expansion.

The State Governor, Akinwunmi Ambode, explained that his administration has channelled its efforts towards the development of agriculture, manufacturing, wholesale, building and construction down to the service sector which is largely dominated by the nation’s teeming creative MSMEs, maintaining that his administration has been assiduously promoting the expansion of the sector.

Besides, the Lagos Chamber of Commerce and Industry (LCCI), has decried the cost of setting up infrastructure for the yearly trade fair as burdensome due to lack of permanent facility to organise such events.

According to him, the state will not stop being a pathfinder in the drive for Nigeria’s economic reconstruction, saying that the state has amassed great public trust and daily burgeoning investors’ confidence as indicated by several world economic reports as an acknowledgement of the impact of its efforts on businesses and standard of living.

“This sector is the catalyst of any meaningful sustainable economic development. In this regard, we have been providing market access for MSMEs, especially through sponsorship of their participation at trade fairs such as the Lagos International Trade Fair and the Lagos State MSME exclusive fair access to soft loans through the Employment Trust Fund (ETF) and establishment of economic zones,” he added.

He pointed out that to achieve meaningful and sustainable growth, Nigeria’s diversification effort must be centred largely on the MSME sector, stressing that the sector is a gold mine that is yet to be fully harnessed.

“This administration will therefore, remain committed to the growth and sustenance of this all-important sector that can catalyze non-oil economic growth in Lagos State and Nigeria at large,” he added.

Besides, Ambode expressed the state’s commitment to provide a world-standard exhibition facility that would engender the staging of a more befitting international trade fairs in Lagos State.