President Muhammadu Buhari and the governor of Lagos State, Mr. Babajide Sanwo-Olu on Friday reaffirmed that the federal and state governments would continue to create an atmosphere that would allow businesses to flourish in the nation.
They made the declaration during the Tafawa Balewa Square (TBS), Lagos, Opening Ceremony of the 36th edition of the Lagos International Trade Fair, with the theme: “Connecting Businesses, Creating Value.”
Otunba Niyi Adebayo, the Minister of Industry, Trade, and Investment, who was a representative for President Buhari, stated that the Federal Government would keep working to ensure that the environment is favorable for businesses, particularly those engaged in manufacturing and export, to prosper.
He said Nigeria’s signing of the African Continental Free Trade Agreement (AfCFTA), would be a great opportunity for Nigeria as the country’s international trade recorded a trade surplus of N3.2trillion between January and June this year.
Adebayo, who noted that the international trade records could be better with the collaboration of both the public and private sectors, described the Lagos International Trade Fair as a great opportunity to showcase Nigeria’s capacity to produce to international standards.
“The private sector can help boost the demand for Nigerian products by aggressively pursuing value addition greatly to the quality of goods originating from our country,” he said.
In his address, Governor Sanwo-Olu, who was the Guest of honour at the ceremony, restated his administration’s commitment to prioritising the growth and development of Micro, Small and Medium Enterprises (MSMEs) to further drive the economic growth and development of the state.
He said his administration will continue to partner with the Organised Private Sector to boost the economy of Lagos State, adding that his government would further create policies that would deliberately engender ease of doing business to enable the state to attract investments and allow businesses to thrive.
Governor Sanwo-Olu outlined how his administration had been boosting MSMEs with soft loans from Lagos State Employment Trust Fund (LSETF) and Lagos State Science Research and Innovation Council (LASRIC), among others, urged business owners in Lagos to take advantage of the opportunities to grow their business and further boost the economy.
The Governor, who described MSMEs as the heartbeat of any economy, said their development was critical, particularly in the face of the current harsh global uncertainties posed by the COVID-19 pandemic and the Ukraine- Russian war.
Congratulates Femi Otedola at 60
Meanwhile, Sanwo-Olu, has congratulated Nigerian business magnate, philanthropist and Chairman, Geregu Power Plc, Mr. Femi Otedola on his 60th birthday.
He said the renowned businessman and seasoned administrator has contributed immensely to the economy and livelihood of many Nigerians, particularly in Lagos State, where some of his companies are situated.
Governor Sanwo-Olu in a congratulatory message issued on Friday by his Chief Press Secretary, Mr. Gboyega Akosile, said Otedola through his investments in key sectors of the economy, like oil and gas, shipping, real estate, banking and energy, among others has contributed to the growth of Nigeria’s economy by providing jobs for millions of Nigerians, especially youths in different parts of the country.
He said: “On behalf of my wife, Ibijoke, the Lagos State Government, and the good people of Lagos State, I join family, friends and business associates to congratulate one of Nigeria’s business magnates and philanthropists, Mr. Femi Otedola on his 60th birthday celebration.
“Mr. Femi Otedola is a good ambassador of Lagos State. He is worthy of celebration because of his many contributions to the economy of Nigeria and Lagos State in particular. As an employer of labour and a respected businessman, he has put smiles on the faces of many working Nigerians.
“As a Lagosian and the son of our former governor, Sir Michael Otedola, Lagos State Government is happy to associate with Mr. Femi Otedola especially because of his philanthropic gestures towards many individuals and institutions within and outside the State.
“I wish Mr. Femi Otedola the best on his 60th birthday as he joins the Diamond Jubilee Group today. I pray that God will grant him long life and sound health to continue to render more service to humanity.”