PRESIDENT Muhammadu Buhari and Lagos State Governor, Mr Babajide Sanwo-Olu on Friday reiterated that federal and state governments will continue to provide an enabling environment for businesses to thrive in the country.
They made the statement at the Opening Ceremony of the 36th edition of the Lagos International Trade Fair, with the theme: “Connecting Businesses, Creating Value” held at the Tafawa Balewa Square (TBS), Lagos.
President Buhari, who was represented by the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, said the Federal Government would continue to ensure that the atmosphere is right for businesses, especially manufacturing and export to thrive.
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.
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 would continue to partner 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.
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.
He said: “On our part, we have continued to make giant strides by formulating and implementing policies, programmes and projects that have impacted and stimulated economic growth in the State. In our quest to build a globally competitive economy, especially through the MSMEs, we have considerably improved our Economic Policy Coordination and Implementation. We have encouraged Partnership Building between the Public and Private Sectors and we have prioritised labour to facilitate and promote investment in the development of a quality workforce for the various categories of enterprises in the State.
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“We have also been working to lower the cost of doing business, improve ease of doing business, build skills, support innovation and strengthen the function of the labour market to improve capabilities, reduce conflict and foster harmonious industrial relations. Without a doubt, my administration has been proactive and intentional in its support and interventions to improve and reinvigorate MSMEs.”
In an opening address, the President of LCCI, Dr. Michael Olawale-Cole said the Lagos International Trade Fair is one of the ways the Chamber has been boosting commerce and trade despite huge challenges.
Olawale-Cole, who commended the Lagos State Government for its continued support to grow small businesses, said the business community is looking forward to the outcome of the national trade policy currently being reviewed.
Sanwo-Olu congratulates Otedola at 60
Lagos State Governor, Mr. Babajide Sanwo-Olu, has joined other eminent Nigerians to congratulate Nigerian business magnate, philanthropist, and Chairman, Geregu Power Plc, Mr. Femi Otedola on his 60th birthday.
President Muhammadu Buhari had earlier rejoiced with the renowned businessman and philanthropist on his 60th birthday.
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 had 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.”
Also congratulating Otedola, the Nigerian President, Muhammadu Buhari, in a statement by his media aide, Femi Adesina, shared in the joy of the occasion, and gives thanks to the Almighty God, who has showered Otedola with grace for business success and prosperity, clearly reflected in his knack for investments in key sectors of the economy like oil and gas, shipping, real estate, finance, and energy.
As the business mogul turns 60, the president affirmed that his interest in the real sector, creating employment for many, supporting infrastructure development, and opening opportunities for others to thrive remains an asset to the nation, while recognizing kind interventions by helping individuals, families, and the underprivileged.