Business
Lagos Trade Fair to drive economic growth, innovation – Ndanusa
In line with the renewed hope agenda of President Bola Tinubu’s administration, the Executive Director, Lagos International Trade Fair Complex, Barr. Vera Ndanusa has said all is set to ensure economic boost and innovation during the forthcoming Lagos International Trade Fair.
Slated for November 15 to 26 2024, Ndanusa said robust partnership is concluded with global brands and Nigerian business giants to showcase their products, build contacts with potential marketers and sell at a rebate price to prospective buyers.
The Trade Fair boss who spoke at the relaunch of the Fair in Lagos recently, added that bringing back the annual exhibitions to the Complex after 14 years, is a testament that President Tinubu’s administration is poised to encourage the Complex business owners to grow and generate more revenue.
“This relaunch marks the end of the 14-year hiatus of the event at the Lagos International Trade Fair Complex”.
At the end of the Fair, it is expected that the annual USD 2 billion generated by over 30,000 businesses within the Complex will triple, increasing the IGR of both Lagos State and the Federal government, Ndanusa said during her opening remarks.
“With over 30,000 businesses within its premises and an average of USD 2 billion of trades annually, the Complex has become undoubtedly, the biggest market in West Africa.
“This planned trade fair is aimed at attracting over 100,000 visitors, including business leaders, industry professionals, and consumers from all over the world”, She emphasized.
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“Attendees will have the opportunity to explore a vast array of products, from consumer goods to industrial equipment, and engage with global exhibitors. The event will also feature seminars, workshops, and networking opportunities designed to foster business connections and spur economic growth in Nigeria and beyond”, she added.
“The objective of the Fair is to showcase the latest industry innovations, foster networking and partnerships, and provide a platform for businesses to connect with potential customers, investors, and industry experts.
“Additionally, the Fair aims to attract foreign investments by highlighting emerging sectors and industries that are well positioned for growth.
“With this relaunch, the management aims to reinforce Lagos’s status as a major commercial hub in Africa, significantly to contribute to Nigeria’s economic growth, create job opportunities, and boost exports”, Ndanusa said.
Hosted by the Minister of Industry, Trade and Investment, Dr. Doris Nkiruka Uzoka-Anite, the Fair aims to reposition the Complex as an alternative revenue generation for the federal government rather than oil.
Represented by the Director Special Duties, Federal Ministry, Trade investments and Commerce, Dr Simon Omo – Ezomo, the Minister said efforts to sustain the heights already achieved by the ministry in adding colours to the Complex will be put in place by the government.
On his part, the Lagos State Governor, Babajide Sanwo-Olu, commended Ndanusa for reviving the Fair after 14 years of discontinuity.
The Governor said the State government will continue to play a good host to ensure that the federal government achieves its objective of setting up the Trade Fair Complex.
Sanwo-Olu who was represented by the Secretary to the State Government (SSG), Barr. Bimbola Salu-Hundeyin, however, commended the efforts of the Fair Management Board for bringing back the popular exhibition after over a decade.
“I commend you all for working tirelessly to refocus the organization toward prioritizing its primary responsibility and for supporting the agenda of President Bola Tinubu to diversify the economy by growing the non-oil sector”, the Governor said.
Also speaking, a House of Representative Member, representing Lere Constituency of Kaduna State, Hon. Ahmed Munir, said the aim of the government is to provide a suitable working environment for businesses to thrive at the Complex.
Munir, who is also the Chairman, House Committee on Commerce, said the Fair is sitting on a goldmine which only requires basic amenities to succeed and generates more revenue for the government.
He said amenities like good road network, power, security, etc, are the responsibility of the government to ensure that the Complex becomes the next alternative for IGR.
“If these facilities are put in place, the government will be running to the Complex for funds”, he said.
Our correspondent reports that the forthcoming Fair is tagged Commercial & Industrial Trade Fair, a tag chosen to elucidate the object of the exhibition.