The 2024 Lagos International Trade Fair was officially declared open yesterday with a rousing address from the Lagos State Governor, Babajide Sanwoolu, represented by the Deputy Governor, Dr Obafemi Hamzat.
The Governor stressed the event’s vital role in boosting Nigeria’s economy.
Highlighting the theme, “Connecting Businesses, Creating Value,” the Governor called on participants to harness the fair’s unique opportunities for collaboration, growth, and innovation.
“It is a tremendous honour and privilege to stand before you as we kick-off the Year 2024 edition of the popular and prestigious Lagos International Trade Fair,” the Governor stated, celebrating the annual event as a “remarkable gathering of minds, businesses, and opportunities that transcends borders.”
The event, organized by the Lagos Chamber of Commerce and Industry (LCCI), has long been a platform for businesses, both local and international, to connect and explore new growth avenues.
The Governor praised the LCCI for its dedication to supporting Nigerian businesses, especially small and medium-sized enterprises (SMEs).
“I applaud the efforts of the leadership of LCCI in bringing together its members, who remain the fulcrum of business in Nigeria,” he said, acknowledging the crucial role the Chamber plays in helping businesses to transform “from their conceptual stage to successful organizations.”
Emphasising the strategic importance of Lagos, the Governor outlined his vision to position the city as “a regional hub and a thriving global marketplace,” adding that “Lagos, as the economic nerve center of Nigeria and West Africa, is playing a unique role in fostering connections among businesses of all sizes—whether they are homegrown startups, established multinationals, or local artisans working to scale their enterprises.”
Sanwo-Olu further emphasized the role of connectivity, saying: “In today’s world, connectivity is the backbone of growth. This Trade Fair is a testament to the undeniable power of partnerships. We are in an age where collaboration fuels innovation, and innovation ignites value.”
The Trade Fair aims to provide SMEs with invaluable access to global corporations, technology innovators and investors, thus fostering an ecosystem for economic development.
Discussing Lagos’ ambitions, the Governor shared efforts to transform Lagos into a global economic powerhouse, stating, “Our vision is to elevate Lagos as a global economic hub, where businesses from every corner of the world feel welcome and empowered. We believe that an interconnected Lagos is a prosperous Lagos.”
Governor Sanwo-Olu also pointed to recent infrastructural developments, including improvements in transportation and digital connectivity, which he said are designed to create a more “business-friendly ecosystem for all.”
“From expanding our road networks to introducing rapid urban transit solutions and supporting renewable energy initiatives, we are committed to creating a business-friendly ecosystem for all businesses,” he explained.
Efforts to improve the Ease of Doing Business in Lagos were also underscored, with the Governor noting that digital transformation, regulatory simplification, and incentives for entrepreneurs are key components in creating a supportive environment for business growth.
“Today, a startup in Yaba, a fashion designer in Ikeja, a farmer in Epe, or an industrialist in Lekki has access to platforms that were unimaginable a few years ago,” he said, underscoring Lagos’s commitment to creating opportunities across all sectors.
Earlier in his welcome address, the president of the Lagos Chamber of Commerce and Industry, Mr. Gabriel Idahosa promised that the trade fair would showcase the best of Nigerian entrepreneurship and ingenuity and the diversity and richness of global economic partnership with a prospect of large participants expected at the event.
“This year, we anticipate an increase in attendance with nearly a million visitors expected over the course of 10 days, with over 3500 exhibitors from more than 15 countries,” he said.
The event will run from the 1st to the 10th of this month.
