ABOUT 214 foreign exhibitors from 16 countries, 5,000 registered businesses and 500,000 visitors are expected at the 2018 Lagos International Trade Fair (LITF).
Lagos Chamber of Commerce and Industry (LCCI) Vice President & Chairman, Trade Promotion Board Mr. Gabriel Idahosa stated this at the opening of the trade fair in Lagos.
Idahosa said countries like China, Japan, India, Indonesia, Ghana, Egypt, Jordan, Pakistan, Turkey, Cameroun, Kenya, Singapore, Jamaica, Republic of Benin, South Africa and European Union (EU) have already shown interest or registered for the 10-day event.
The 2018 LITF, which started on Friday with the Vice President Yemi Osinbajo as the special guest of honour, is holding at the Tafawa Balewa Square, Lagos, (TBS). It will end on Sunday.
The LCCI Vice President said: “So far, our exhibitors have been taking the advantage of our automated website to register, pay and book for the space of their choices. The process has been designed to be seamless and friendly.
“Almost all the available spaces have been booked. This, you can verify if you register on our website.”
Idahosa said the LCCI also established LITF Radio for exhibitors, who want to place adverts either by spot announcement or jingles during the fair to spread the reach of their products and services.
Speaking at the event, Osinbajo said the present administration is working on growing the economy by investing over N2.7 trillion in capital projects.
He added that though the administration earned 60 per cent less from oil, it has done more by creating an environment that support commerce, trade and foreign direct investment.
The vice president stressed that the policy framework of government has made it sustainable and able to withstand volatility and shocks.
Osibanjo said the light rail between Lagos and Ogun and the port access road development were part of enabling environment created by the administration to build a competitive investment environment.
He said the government is also working on building an effective rail line out of the ports in Lagos to curtail port congestion.
On power generation, he said the administration is generating over 7,000 megawatts as against the 3,000 megawatts it met on ground.
According to him, independent power producers are presently powering big markets such as Ariara in Aba, Abia State, Sura market in Lagos and markets in Edo and Ondo states.
He said this has increased trade and storage facilities for traders as well as their profitability.
Osinbajo added that the government is partnering Goggle Station to provide free Wi-Fi and internet services in public places such as Palms Super Market, Ikeja City Mall, landmark centre, Murtala Muhammed International Airport (MM2), train stations, computer village among others.
He said very soon, the internet services would move to Onitsha main market and other markets to ensure that nobody is left out.
According to him, the administration has distributed over N15.2 billion to 400,000 traders, artisans nationwide with 56 per cent to women, including the trader moni given to the very poor to lift them out of poverty.
Japan Ambassador to Nigeria Mr. Yutaka Kikuta said Nigeria is blessed with abundant human and material resources. He asked the nation to turn its potential to trade relations with foreign companies to serve as a catalyst for job creation and economic growth.
President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Iyalode Alaba Lawson asked government to expedite action on infrastructure growth, road and access to port and energy provision.
She hailed the Micro Small & Medium Enterprises (MSME) clinics that have made it easier for business owners to get loans and working capital for small and medium businesses.
Chief Lawson asked government to work earnestly to seek business relationship with developed economies.
LCCI President Mr. Babatunde Paul Ruwase said the Trade Fair, with the theme, “Connecting Business, Creating Value”, is aimed at underscoring the importance of relationships and interactions among businesses for the purpose of wealth creation.
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