Tinubu vows to support MSME potential unlocking

The Lagos State Government is determined to support micro, small, and medium enterprises (MSMEs) to achieve their full potential and ensure their sustainability, says President Bola Ahmed Tinubu.

He made this statement at the 2023 edition of the Lagos International Trade Fair (LITF), organised by the Lagos Chamber of Commerce and Industry (LCCI), on Friday in Lagos.

The event, themed “Connecting Businesses, Creating Value”, had Mrs. Lucia Shittu, Chief Executive Officer, Tafawa Balewa Square Management Board (TBSMB), representing him.

Tinubu acknowledged the crucial role of MSMEs in the Nigerian economy and said the government had a duty to support them, as they are the engine of economic growth.

“We are committed to creating policies, providing access to finance, and building capacity that will enable these enterprises to succeed and grow.

“We also urge them to adopt technology, innovate, and adapt to changing consumer needs.

“This way, Nigerian MSMEs will not only be participants but also leaders and innovators in the global market, setting the standards for others to follow.

“Let us move forward with determination, resilience, and a shared vision for a Nigeria that stands out on the world stage,” he said.

The Governor of Lagos, Mr. Babajide Sanwo-olu, said the theme of the event reflected the importance of business connections, as no business organisation could survive in isolation.

Sanwo-Olu, who was represented by Commissioner, Lagos State Ministry of Commerce, Industry, and Cooperative, Mrs. Folashade Ambrose-Medem, said the fair offered a 10-day opportunity for businesses to showcase their products and services, gain exposure, and network with other businesses.

He said the platform was timely, strategic, and transformative, as it would further enhance the investment ecosystem and attract more competitive investment opportunities in Nigeria.

The governor noted that the youth population was not a challenge but had great potential to be harnessed in the state and the country.

He said there was a need for a different approach to engage potential investors, both in Lagos and across the country.

“I want to assure you that the Lagos State Government will continue to be your partner in progress and ensure a conducive business environment for investments to thrive in the state.

“We are aware that our quest to transform Lagos from Nigeria’s biggest commercial city to a mega or smart city, driven by 21st century economic dynamics, will depend largely on our political will to effectively address the various challenges facing businesses.

“For us, we see the challenges as great opportunities for further investment, and we are ready to work with willing investors.

“This will help to expand the infrastructure for the benefit of our businesses, our state, and our country,” he said.