EKO NEWS

Lagos Plans New Industrial Estate To Boost Investments In MSMEs (PHOTO)

Published

2 years ago

Jul 5, 2022.

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EKO HOT BLOG reports that the Lagos State Government, on Sunday, assured members of the business community of its commitment to providing a conducive business environment for Micro, Small and Medium Enterprises to make the sector more attractive for investment.

The Commissioner for Commerce, Industry and Cooperatives, Dr. Lola Akande, gave the assurance at the closing ceremony of the 7th edition of Micro, Small and Medium Enterprises (MSMEs) Exclusive Fair held at the Blue Roof, Lagos Television Complex, Ikeja.

She said: “The State Government remains committed to providing a conducive environment for the Organised Private Sector and other stakeholders through continuous engagement in the implementation of policies, regulations and projects as they impact the business prosperity of the State”.

Speaking more on the objectives of the 7th Edition of Lagos MSMEs Exclusive Fair, the Commissioner said it is an annual exhibition of indigenous products, especially those produced by residents and Lagos State-funded schemes.

Mrs. Akande said that the Fair also focused on the Eko MSMEs Fashion Hub established in collaboration with the Federal Government to boost the fashion and apparel industry, the e-commerce digital platform created to showcase MSMEs products and services to the world, as well as the Lagos State Export Promotion Committee established to promote the marketability of locally-made products.

The Commissioner informed that the construction of 44 Factory Units at Imota Industrial Light Park was also part of the State government’s efforts to create a conducive environment for the Organised Private Sector and other stakeholders in Lagos State, noting that the factory is at 86% completion and would, ultimately, enhance the growth of MSMEs across the State.

She hinted that “In a bid to continue to complement the Small Scale Industrial Estates at Mushin and Isolo as well as the Industrial shed at Sabo in Ikorodu, plans are ongoing to develop a new Small Scale Industrial Estate at Gberigbe, Ikorodu”.

The Commissioner, therefore, urged the exhibitors and other MSMEs to take full advantage of the numerous benefits available through African Continental Free Trade Area (AfCFTA) and relevant State Government Agencies.

In her goodwill message, the wife of the Governor of Lagos State, Dr. (Mrs.) Claudina Ibijoke Sanwo-Olu, affirmed that the annual fair has been a great platform to expose MSMEs to beneficial Business Clinics, as well as an opportunity for exhibitors to interact with Private Investors, Business Support Providers, Regulatory Agencies and other Institutional Development Agencies in the State.

Speaking on the theme of the Fair, Dr. Sanwo-Olu said one of its goals was to find ways of maximising the benefits of the African Continental Free Trade Area (AfCFTA) framework to local producers, noting that the Fair was also designed to enhance the profitability and global competitiveness of MSMEs and upscale the Lagos-Nigeria economic diversification agenda.

While informing that the government and local manufacturers can significantly explore the benefits of the Pan-African policy, the First Lady implored business owners and entrepreneurs to ensure that the lessons learned during the fair are used to improve their products and services in the short and long-term.

The Permanent Secretary of the Ministry, Mrs. Adetutu Oluremi Ososanya, congratulated all the exhibitors and participants and wished them the best in future endeavours, explaining that the six-day MSMEs Exclusive Fair is an annual programme of the State Government organised to showcase all Made-in-Lagos products.

At the end of the ceremony, awards were presented to some of the exhibitors for distinguishing themselves at the Fair.

FURTHER READING

The award for Fashion & Accessories Category was won by Bimbeads Concept; Health Fitness Category by Tonics Bathing Soap; Clothing & Textiles Category by Sisi Aladire Entreprises, while Manna House, Finzad, Azarel and Asian Natural Cosmetics emerged winners in the Best Social Media, Food & Beverages, Cosmetics and Household Categories, respectively.

Similarly, cash prizes of N1million, N500,000, N250,000 and other gifts were won in a raffle draw organised by the Ministry of Commerce, Industry and Cooperatives.

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