The Lagos State government announced its plans to increase the export of Made-in-Nigeria products during the closing ceremony of the 2022 Lagos International Trade Fair (LITF). They noted that the current administration is working with various stakeholders to direct goods and services in the state for increased export. The governor of Lagos State, Babajide Sanwo-Olu, who was represented at the event by the Secretary, Mrs. Folashade, remarked that the state government’s efforts are delivering the intended outcome, as Lagos has transformed into an appealing brand that no investor or enterprise can ignore.
According to him, the challenge of comparing the state to the world’s best practices and turning it into a model for others is extremely difficult yet achievable. He explained that their administration had made a significant contribution to the improvement of the business environment through the adoption of business-friendly policies to enhance the ease of conducting business within the state, the provision of incentives, and their unwavering dedication to the development and renewal of infrastructure. Construction activities are currently being carried out in every region of the state. Some of these are already enhancing intra-city and inter-state commerce, he noted.
The State government is now responsible for creating possibilities.
In order to accelerate economic growth, provide more jobs for the overwhelming youth population, and strengthen its ability to generate revenue, the State government is now responsible for creating and leveraging possibilities through improved private sector participation. He added that they would continue to put in a lot of effort and implement innovative and creative concepts that are powered by technology in order to satisfy your expectations and the aspirations of Lagosians for a better Lagos that is functioning, productive, comfortable, secure and provides infinite opportunities for everybody.
Furthermore, Mrs. Lola Akande, Commissioner for Commerce, Industry, and Cooperatives, also spoke, stressing the importance of deliberate and meaningful involvement with key stakeholders in order to fully understand the many benefits of networking in business. Using the power of e-Commerce or digital marketing can serve as the foundation for a constant evaluation of the benefits and a strategic plan for its long-term implementation. She mentioned that these would help cut costs, boost profits, and generate more money.
Local and foreign investors are needed for economic diversification.
Speaking further on the impact that the Lagos state government has made so far as regards the livelihood of its citizens, Asiwaju Michael Olawale-Cole, who is the president of the Lagos Chamber of Commerce and Industry (LCCI), expressed confidence that governments at all levels will indeed continue to tackle the concerns of enabling the environment in the country, particularly in regard to infrastructure and services, insecurity, and the appropriate policies to rectify the main drivers of high inflation.
He argued that this action was necessary for the state to fully utilize the vast entrepreneurial potential of domestic and foreign investors in order to diversify the economy and improve the lives of the people. Furthermore, he noted that even though there are many difficulties that come along with holding a huge exhibition such as this one, it has made every effort to guarantee that the fair goes off without a hitch and is a success.
A safe environment needs to be created for entrepreneurs.
Moreover, the absence of structures and facilities to propel the economy presents difficulties for the major cities of the majority of emerging countries; as a result, these cities lose a significant sum in terms of income, and in view of this, the Secretary to the State Government has acknowledged that the Sanwo-Olu administration is also developing public value for entrepreneurs in an environment that is growing more unstable, uncertain, complex, and ambiguous as a direct result of the issues that the global economy is facing.
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