Lagos Governor, Babajide Sanwo-Olu said the State’s institutionalization of Public-Private Engagement Mechanism (PPEM) tagged: Lagos Corporate Assembly has become a veritable platform for receiving inputs and feedback from members of the Organised Private Sector (OPS) on Government Policies and Programmes.
Sanwo-Olu made the confirmation Sunday at the celebration of the Lagos State day and closing ceremony of the 36th edition of Lagos International Trade Fair (LITF) at Tafawa Balewa Square (TBS).
The Governor disclosed that many of such inputs “we received are being incorporated into our policies for improved business environment”..
He added that through the creation of Lagos State Export Promotion Committee to Promote Exportation of Locally Made Products, his over three-year administration was working with various stakeholders to position products and services in the State for increased export.
“I am happy to note that our efforts are yielding the desired result as Lagos has become a compelling brand that no investor or business can ignore” Sanwo-Olu restated.
The Lagos helmsman established that the realities of the time “have placed on us the responsibility of creating and harnessing opportunities through improved private sector participation to accelerate economic growth, create more jobs for our teeming youths and enhance our revenue generating capacity. We will continue to work hard and implement innovative and creative ideas driven by technology to meet your expectations and the aspirations of Lagosians for a Greater Lagos that is functional, productive, safe, secure and provides limitless opportunities for all”.
Sanwo-Olu commended the participants, especially the Small and Medium Scale Entrepreneurs, whose level of participation at the annual exhibition has remained very strong despite the prevailing business environment. I strongly believe that business owners and investors have taken due notice of the essence of the theme of this year’s fair “Connecting Businesses, Creating Value”, declaring that the one-week exercise was a wake up call for every entrepreneur because “it is a potent strategy to grow a business and overcome the challenges prevailing in every business environment globally”.
He admitted that the ‘Lagos State Day’ is another opportunity for to showcase investment opportunities and the modest strides we have achieved in our quest to improve our status as the most preferred destination for investment in Nigeria and Africa, hailing the State’s efforts towards enthroning a friendly business environment as well as showcasing investment opportunities available in the State.
“Without any doubt, the challenge of benchmarking the State against global best practices, making it a model for others to follow and growing it to become a befitting smart city that is comparable to any of its kind is a very herculean task. Yet, it is achievable.
“To this end, our administration has done a lot to improve the business environment through the implementation of business friendly policies to improve the ease of doing business in the State, incentives and our unrelenting commitment to infrastructural development and renewal. As I speak, construction works are ongoing in all parts of the state with the goal of creating a conducive environment for business, living and leisure. Some of these are already facilitating intra-city and inter-State exchange of goods and services.
“The Lekki Deep Sea Port has been completed and commissioned to commence operation in 2023. We have consciously made provision for land space for investors at Lekki Free Zone with 16,500 hectares and did the same at Gberigbe in Ikorodu, Badagry, Ibeju Lekki and other places for development” Sanwo-Olu recalled.
He appreciated the efforts of the President and Board of the LITF organiser, Lagos Chamber of Commerce and Industry (LCCI) for the introduction of a number of innovations in the packaging of just concluded Trade Fair.
His words: “I thank you all for exploring the splendid aesthetics and warm hospitality we have offered you over the past ten days at this Fair. I invite you to continue to avail yourselves of the immense opportunities accruable from doing business in Lagos State, Nigeria’s prime investment and industrial hub; and Africa’s major Fashion and Entertainment destination”.
Harping on the importance of value creation, the State’s Commissioner for Commerce, Industry and Cooperatives, Dr. Lola Akande in her welcome address at the closing event reiterated that there was the need for deliberate and meaningful engagement with key stakeholders in order to enhance an understanding of the positive impacts of networking in business.
This, she asserted, could form a basis for continuous assessment of the benefits, and development of a strategic roadmap towards its long term implementation, while drawing on the strength of E-Commerce or digital marketing, adding that the measures would help to reduce overhead cost, increase profit and create more wealth among other benefits.
“There is no doubt that the administration of Mr. Governor, Babajide Olusola Sanwo-Olu, the Governor of Lagos State, has in place a dogged public service that is working to facilitate an enabling business environment for all. The administration continues to maintain the status of a committed business crusader, adopting intentional policies and steady focus to encourage entrepreneurs in line with global best practices. The Sanwo-Olu’s administration is also creating public values for entrepreneurs in an environment that is becoming more unstable, uncertain, complex and ambiguous due to world economic challenges” Akande stressed..
She related that the support Lagos has been giving to businesses was not only an attribution to its large market size and dynamic labour force, but an acknowledgement of its regulatory and civic friendliness to technological development, adding more than other places in the Federation, Lagos has experienced tremendous share of growth in terms of tech start-ups.
“This is why it may interest you to know that out of over $1.7 billion venture investments that came into Nigeria, 70 per cent came into Lagos startups. Over the past six months, about $1 billion in Data Centre investment has poured into Lagos because of some of the projects the State is executing and some of the regulations we are pioneering. The administration of Mr. Governor, Babajide Olusola Sanwo-Olu is working on a Smart City Plan to transform Lagos into a technology-driven State, hence, Connecting Businesses, Creating Value for stakeholders in the various sectors of the economy to thrive in their day to day business activities.
“By the way, Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth said: “Look at nature. Nowhere do you see reward without work. In most cases, the things of nature work smart and not hard, but the things of nature always work. The things of nature are consistently employed in the creation of some value.” This is true of the Smart City Project of the State, which will also ensure entrepreneurs work smart and not hard, as businesses leverage technology to connect each other and create more values on the long run” Akande added.
She commended Asiwaju Michael Olawale Cole-led LCCI, along with the Board members, for giving unrelenting direction for businesses to thrive in the State and Nigeria in general.
Earlier, Asiwaju Olawale-Cole thanked all the government agencies that provided useful and important services, which facilitated the staging of the 2022 LITF, specifying the Military, police, traffic control agencies, and all the para-military formations that supported the hosting of this fair.
Similarly, he lauded LCCI official partners and sponsors, acknowledging the impressive role played by the members of the LCCI Trade Promotion Board led by its Chairman, Engr. Leye kupoluyi, noting that the result of their commitment was evident in the remarkable outcome ‘’that we have all witnessed for the past ten days. It is no doubt a very demanding project”..
While also thanking the LCCI secretariat, Asiwaju Olawale-Cole indicated that despite the numerous challenges that featured in the hosting of the exhibition, the Chamber endeavoured to ensure a hitch-free and successful fair.
Still,” as in most human endeavours, there may have been some areas for improvement. We have taken note of such feedback into the strategy for the 2023 edition. We look forward to a better, bigger, and richer 2023 Lagos International Trade Fair holding from Friday 3rd to Sunday 12th November 2023” the President announced.