IBRAHIM QUADRI
Lagos State Governor, Mr Babajide Sanwo-Olu on Sunday assured the business community of an enabling environment that is powered by a digital-friendly economy which will open more paths to commercial activities.
Speaking at the closing ceremony of the 2024 Lagos International Trade Fair organized by the Lagos Chamber of Commerce and Industry, LCCI, Governor Sanwo-Olu said that Lagos remains a city where innovation and resilience meet and that the state is committed to building a digital space that will galvanize economic development at all levels.
Sanwo-Olu explained that the theme of the event, “Connecting Businesses, Creating Value,” aligns with Lagos State’s vision to foster partnerships, drive innovation, and build an environment where businesses of all sizes can thrive.
“At the start of our administration, we recognized both the privilege and responsibility of leading a state with such vibrancy—a state of over 20 million people, a major contributor to Nigeria’s GDP, and Africa’s fifth-largest economy. Guided by the T.H.E.M.E.S+ Development Agenda, we set out to transform Lagos into a true megacity, one that competes globally and nurtures an ecosystem for growth and prosperity.”
“By advancing partnerships with tech hubs, offering incentives for digital startups, and fostering a tech-driven environment, we are positioning Lagos as a preferred destination for innovative solutions. Recognizing our strategic role within Africa, we have also established the Lagos State Technical Working Group on AfCFTA to prepare our businesses to leverage the trade benefits within Africa.”
“Sustainability remains central to our growth strategy, and we are taking decisive steps toward becoming a cleaner, greener Lagos. Through initiatives that prioritize renewable energy, waste management, and eco-friendly policies, we are creating a sustainable city that balances economic opportunities with environmental stewardship, benefiting current and future generations. he said
The Governor affirmed that Micro, Small, and Medium Enterprises (MSMEs) are the backbone of any vibrant economy, and Lagos is no exception, as it is working assiduously through different agencies to support tech startups and other skills to enable SMEs to thrive in both local and global markets.
He said the state has put in place an extensive Fiber Optic Network project which ensures seamless digital connectivity across the state to enable smoother business operations and reduce costs.
The Governor who was elated to have seen how the business community embraced the opportunities at the Trade Fair, however, urged every critical stakeholder to collaborate, innovate, and push forward a shared vision of a prosperous, inclusive, and resilient Lagos.
The State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem said the fair underscored the commitment of the state government in equipping and enhancing the business partnership with the private sector thereby leveraging technology to position Lagos as a gateway to Nigerian and African Markets.
The Commissioner said the administration has been deliberate in implementing policies that streamline the regulatory framework, reduce bureaucratic bottlenecks, and enhance transparency, which has over the years translated to a more efficient business environment where enterprises, both large and small, can thrive.
Going forward she added, “As we approach 2025, our Ministry, under the able guidance of Mr. Governor, has set even more ambitious goals to boost commerce, cooperatives, trade, and investment activities in the State. Our vision for Lagos is to become not only a leading business hub in Africa but a model for how cities around the world can balance growth with sustainability.”
In his remarks, the President Lagos Chamber of Commerce, Mr. Benson Idahosa, appreciated Governor Sanwo-Olu for creating an ambiance that allowed smooth operations of the year 2024 Trade Fair, while thanking participants across Nigeria and Africa for making the fair a success.
Idahosa who reiterated the commitment of the Chamber to raise the bar of the annual fair in the coming years, assured the continent of Africa of an atmospheric condition that will bolster the economy of African countries.
