Sanwo-Olu: Creating value critical for business growth.

Ibekimi Oriamaja Reports

Babajide Sanwo ­Olu, Governor of Lagos State, has praised the Small and Medium Scale Entrepreneurs (SMEs) and other participants at the recently concluded Lagos International Trade Fair.

As a Special Guest of Honour, he spoke at the event’s conclusion. Despite the current business environment, he observed that businesses have remained very strong. He expressed his belief that business owners and investors have paid close attention to the essence of this year’s fair’s theme, “Connecting Businesses, Creating Value.”

He stated that the fair’s theme is a wake-up call for every entrepreneur because of its powerful strategy for growing a business and overcoming the challenges that exist in every business environment around the world.

He stated that the celebration of ‘Lagos State Day’ is yet another opportunity for the state to highlight investment opportunities and the modest strides it has made in its quest to become the most preferred destination for investment in Nigeria and Africa. His administration has worked to enshrine a friendly business environment while also highlighting investment opportunities available in the state.

“Without a doubt, benchmarking the State against global best practices, making it a model for others to follow, and growing it to become a befitting smart city comparable to any of its kind is a herculean task,” he said. However, it is doable.

“To that end, our administration has done a lot to improve the business environment through the implementation of business-friendly policies, incentives, and our unwavering commitment to infrastructure development and renewal.” As I speak, construction projects are underway throughout the state with the goal of creating a welcoming environment for business, living, and recreation. Some of these are already used to facilitate intra-city and inter-state trade in goods and services.

“The Lekki Deep Sea Port has been completed and will be operational in 2023.” We have consciously provided land space for investors at Lekki Free Zone with 16,500 hectares, and we have done the same at Gberigbe in Ikorodu, Badagry, Ibeju Lekki, and other development sites.

“The institutionalization of the Public-Private Engagement Mechanism (PPEM) dubbed the Lagos Corporate Assembly has turned it into a veritable platform for receiving inputs and feedback from members of the Organised Private Sector (OPS) on Government Policies and Programs.” Many of these suggestions have been incorporated into our policies to improve the business environment.”

Earlier, LCCI President Dr Micheal Olawale­ Cole urged governments at all levels to continue addressing the country’s enabling environment issues, particularly infrastructure, insecurity, and the right policies to address the key drivers of high inflation. He argued that this is necessary in order to fully utilize the vast entrepreneurial resource of domestic and foreign investors for the diversification of our economy and the welfare of the people.

While thanking the government at all levels for facilitating the staging of the 2022 Lagos International Trade Fair. He praised the military, police, traffic control agencies, and all paramilitary formations that helped make the fair a success. In conclusion, he stated that despite the numerous challenges that come with hosting a large exhibition like this, the chamber did everything possible to ensure a smooth and successful fair.