Lagos fair, big opportunity for small businesses

The on-going Lagos International Trade Fair is an opportunity for the micro, small and medium enterprises (MSMEs) to meet new customers and raise their margins.
It also provides a learning opportunity for entrepreneurs as there will be financial institutions and business development experts that will break down steps involved in accessing funds and growing businesses.
According to the Lagos Chamber of Commerce and Industry (LCCI), the organiser of the trade fair, the 31st Lagos International Trade Fair will support the growth of the micro, small and medium enterprises (MSMEs) by boosting their revenue and profits.
Speaking to journalists in Lagos, Sola Oyetayo, chairman of Trade Promotion Board of LCCI and head of the fair’s organising committee, said specialised stands are dedicated to MSMEs to ensure thousands of visitors patronise them.
Oyetayo said that in a bid to promote MSMEs, the chamber has strategically put them into its plan and created spaces for them at the square where they can exhibit their products at cheap and affordable rates.
“This was planned so that these youths do not constitute a nuisance to the society and also to help them grow their businesses,” he said.
Oyetayo said investors from more than 20 countries have arrived for the fair, which has as its theme, ‘Promoting Industrialisation for Economic Recovery and Sustainable Growth’.
The investors, including participants, are from China, Japan, Ecuador, Indonesia, Ghana, Egypt, Slovenia, Pakistan, Turkey, Cameroun, Kenya, Singapore, Jamaica, Republic of Benin, South Africa, including countries in the European Union and the North America.
“The result is evident by the turn-up of outsiders and foreigner exhibitors, as well as by our local businessmen,” Oyetayo said.

In the past, there had been challenges with location, security and the environment, but this year’s fair is entirely different as measures have been put in place to curb these challenges, Oyetayo said.
About 500,000 visitors will attend the fair over the 10-day period, including 2,000 exhibitors, he added.

“Various visitors have shown increasing interest in the Lagos International Trade Fair. The number of foreign countries has increased to well over 20 countries, which is a big increase compared with other years,” he stated.

He stressed that Lagos trade fair has contributed to the Nigerian economy as many businesses have made good margins from it.

“We are providing platform, where exhibitors, visitors and investors all come together and liaise to move their businesses forward. So in the long run, this will grow the Nigerian economy and improve the lives of individuals in the society,” he said.

ODINAKA ANUDU