The 2024 Lagos International Trade Fair tagged ‘Connecting Businesses, Creating Value’ has been hailed as a resounding success, following over ten days of intense networking, trading, and collaboration.
Lagos State Governor Babajide Sanwo-Olu speaking at its closing ceremony on Sunday commended the Lagos Chamber of Commerce and Industry (LCCI) for its successful organization of the event, which saw a diverse range of businesses come together to exchange ideas and foster new partnerships.
In his speech, Governor Sanwo-Olu acknowledged the leadership of the LCCI, particularly Mr. Benson Idahosa, FCA, for sustaining the event’s legacy over 38 years, and praised the platform for its role in connecting businesses, creating value, and driving economic growth.
“The Lagos International Trade Fair has always been a vital platform for businesses to come together, share ideas, and create lasting economic value.
”This year’s theme, ‘Connecting Businesses, Creating Value,’ perfectly aligns with our state’s vision to drive innovation, foster partnerships, and ensure that businesses of all sizes can thrive,” Governor Sanwo-Olu stated.
Key Infrastructure Developments Highlighted
Governor Sanwo-Olu highlighted key initiatives that have been central to the state’s growth and business environment, especially in infrastructure.
The Governor noted that Lagos’ intermodal transport system, which integrates rail, road, and waterways, has significantly improved urban mobility and business efficiency.
“Our Blue and Red Rail Lines are transforming public transportation, connecting more people to opportunities and reducing the cost of doing business. Similarly, our extensive Fiber Optic Network is ensuring seamless digital connectivity, which is vital for modern business operations,” Governor Sanwo-Olu explained.
The Governor also spoke about the state’s dedication to sustainability, highlighting the importance of creating a cleaner, greener Lagos. “Sustainability is at the core of our development agenda.
”We are actively prioritizing renewable energy, waste management, and eco-friendly policies to ensure that we balance economic growth with environmental responsibility,” he said.
Boosting MSMEs and Workforce Development
The Governor also reaffirmed his administration’s support for Micro, Small, and Medium Enterprises (MSMEs), describing them as the backbone of the Lagos economy.
He revealed that through the Lagos State Employment Trust Fund (LSETF), the state has provided over 9 billion naira in loans to more than 13,000 SMEs, enabling them to grow, innovate, and create jobs.
“Lagos is committed to supporting our SMEs, who are the drivers of local innovation and the backbone of our economy,” said Sanwo-Olu. “Through training, mentorship, and access to finance, we are empowering our SMEs to compete in local and global markets.”
The Governor also praised the state’s efforts in workforce development, noting that over 5,500 trainees had graduated from Lagos’ skill development centers in the past few weeks. “By equipping our workforce with the necessary skills, we are preparing our people for a 21st-century economy,” he said.
Partnerships and Future Growth
Governor Sanwo-Olu highlighted several initiatives, including the Lagos State Technical Working Group on the African Continental Free Trade Area (AfCFTA), which aims to prepare businesses in Lagos to benefit from trade opportunities within Africa.
He also pointed to the development of the Lekki Deep Sea Port as a critical step toward making Lagos the commercial gateway of West Africa.
As the 2024 Trade Fair came to a close, Governor Sanwo-Olu urged businesses and entrepreneurs to continue innovating and building on the partnerships formed during the event.
