The Lagos State Government has called on Micro, Small and Medium Enterprises [MSMEs] to utilize the opportunity provided by the (AfCFTA) which exposes them to skills for the development of intra–African trades.
The Governor charged Nigerian entrepreneurs in small and medium enterprises to benefit from various opportunities amidst economic draw down to be Financially stable and boost the nation’s GDP.
The governor also cautioned Nigerians to avoid negative painting of their country on social media as it can make investors not interested in the country.
Sanwo-Olu made the statement at the beginning of the 8 MSME trade fair titled “Empowering MSMEs for AfCfTA excellence through sustainable economic growth,” which took place in Ikoyi, Lagos State.
The trade fair was meant for MSMEs to display their products and services to Nigerians.
The state governor represented by his Deputy Dr. Obafemi Hamzat called on the traders to make their businesses more professional to stand out in the thriving market which the government have supported.
In his statements, he explained that the MSME sector is a huge economic catalyst, constituting 95-98% of all businesses and generating 50-70% of employment.
Nigeria needs to position its MSMEs to take advantage of the AfCFTA, which is poised to become a game changer for the African economy.
Added value is an important strategy to acquire and retain customers, increase brand awareness, and differentiate once placed in the market. This will particularly benefit the exports of the State and the country to other African countries, significantly stepping it up to about 10-15%.
The Lagos State Commerce commissioner said the fair will aid the marketers in connecting and learning how to reshape their products to attract buyers’ interest.
Also speaking was the guest speaker, Prof. Sunday Adebisi who called on the youths to utilize their skills in Nigeria to promote the country.
The Lagos State Deputy Governor during the fair called on the traders to register their business with legal government organizations as it will draw foreign patronage.
