The Lagos International Trade Fair, (LITF) is a means to showcase the resilience of Nigerians and our unwavering commitment to progress.
The Lagos Chamber of Commerce and Industry (LCCI) President, Asiwaju Michael Olawale-Cole made this declaration of Friday.
Olawale-Cole in his welcome address at the formal opening of 2023 LITF is another testament to the entrepreneurial spirit that so well adds definition to our countrymen and women, adding that provides a stage for us to come together, learn from one another, and explore avenues for cooperation.
LCCI President said: “Nigeria, often referred to as the “Giant of Africa,” has been a beacon of hope and opportunity on the continent for decades. With a population of over 200 million people, it boasts the largest consumer market in Africa. However, we cannot choose to deny the recent domestic economic challenges. High inflation, unstable exchange rates, and that consistent dependence on oil revenue have their headwinds that have continued to hinder our progress. Yet, the uniqueness of Nigerians is that, in adversity, we still find opportunity”.
“Lagos, Nigeria’s economic powerhouse, is uniquely positioned to lead the charge towards economic revitalization. As the largest city on the continent and home to over 16 million people, Lagos has consistently proven itself as a hub of commerce, innovation, and culture. Its deep-water ports, strategic location, and diverse workforce make it an ideal gateway for international trade. The Lagos State Government’s commitment to improving infrastructure, ease of doing business, and innovation has steadily impacted its attractiveness to both local and foreign investments.
“We stand on the threshold of change, as Nigeria and Lagos State work tirelessly to diversify their economies, reduce dependency on oil, and pave the way for inclusive growth. The Lagos International Trade Fair is emblematic of this vision, serving as a platform for businesses, entrepreneurs, and investors from all corners of the globe to converge, connect, and create opportunities that drive sustainable development”.
Speaking on the theme’ “Navigating Economic Challenges: Forging a Path to Prosperity,” Asiwaju Olawale-Cole indicated that it reflects the reality “we face and in a different sense underscores the determination of the Nigerian business community to overcome its many hurdles of existence, survival, and growth”.
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The importance of theme he related that it cannot be overstated. saying that it “calls upon us to acknowledge the difficulties we face while inspiring us to seek solutions, embrace new opportunities, and develop innovative strategies to foster economic growth”.
The Fair, this year, Asiwaju Olawale-Cole stated provides an unprecedented opportunity for us to showcase the wealth of goods, services, and innovations that Nigeria and the other participating business entities and countries have to offer.
“From agriculture to technology, manufacturing to the creative arts. Our nation boasts so much untapped potential. Lagos State presents a thriving ecosystem of business opportunities, housing a variety of sectors, from finance to entertainment, and transportation to real estate” he stated.
.Asiwaju Olawale-Cole maintained that one cannot discuss the African economic landscape without acknowledging the demographic dividends Nigeria holds for the rest of the continent and the global business community.
He added: “Again,Our youthful population represents a vast resource of potential labor, innovation, and consumer power. The Lagos International Trade Fair serves as another bridge between this potential and global opportunities. It encourages international partners and investors to harness the energy and creativity of our youth, thereby nurturing a brighter and more prosperous future.
“The Fair is not merely an exhibition of products and services; it is a testament to our resilience and determination to overcome the economic challenges that lie before us. It is a declaration of our intent to harness the potential within our borders and showcase it to the world. It is an invitation to our international partners to join us on this highly transformational journey.
“The 2023 Lagos International Trade Fair is not just a platform for trade; it is another symbol of our nation’s enduring spirit. Let us rise to the occasion, harness the power of innovation, and work together to forge a path to prosperity. I want to challenge every participant, from the smallest startup to the largest corporation, to think critically and creatively about how you can contribute to Nigeria’s economic resurgence. It is through our collective efforts that we can emerge stronger and more resilient than ever before.
“I have no doubt that, with determination, collaboration, and creativity we will overcome the current economic challenges and pave the way for a brighter future for Nigeria. We must look beyond the challenges and focus on the immense possibilities that lie ahead”.
He encouraged business owners to initiate partnerships, strike deals, and seize the opportunities that will drive businesses, “this nation and our continent to new heights”.
Asiwaju Olawale-Cole thanked participants, sponsors, and organisers who have made this event possible, assuring that commitment to the economic progress of Nigeria and Africa is greatly appreciated.
“Together, we can rise above the challenges and unlock the vast economic potential of Lagos State and Nigeria for the benefit of Africa” Asiwaju Olawale-Cole.
This year’s LITF is to hold between Friday, November 3 and Sunday, November 12, 2023.