Lagos Trade Fair to boost SMEs’ capacity, promote value-addition

Production plant

Production plant

As part of efforts to further promote value-addition in the non-oil sector and address capacity deficit among small and medium enterprises, the Lagos Chamber of Commerce and Industry (LCCI) has stated that its Lagos International Trade Fair (LITF) for 2015 will seek to address such gaps.

Scheduled to hold from 6th to 15th November, 2015, the LITF is expected to showcase and attract investment opportunities in the nation’s non-oil sector from local and international investors.

Indeed, the chamber pointed out the need to support the development of the non-oil sector in Nigeria especially now that the country urgently needs to diversify its economy, maintaining that in today’s business world, developmental initiatives such as investment conference and entrepreneurship development programmes with special focus on the non-oil sector is critical to help the country get out of its present precarious situation‎.

“‎Towards this end, the LCCI, will host an investment conference
during the 2015 Lagos international Trade Fair. The theme of the fair: “Enhancing value addition in the non-oil economy”, has therefore been adopted for the investment forum”, the Chairman, Trade Promotion Board, LCCI, Dr. Michael Olawale-Cole, stated at a press briefing inLagos on Monday.

Olawale-Cole stressed the need to support the development of entrepreneurship as well as Micro, Small and Medium Enterprises (MSMEs) in Nigeria, noting the urgent need to create jobs and build an inclusive economy.

He added that many small business owners have capacity deficit in various areas of their enterprise, saying that this is one major reason for the failure of quite a number ‎of such businesses at their incubation and growth period.

“One sure way of investing in the future of the economy is to increase the capacity of these entrepreneurs to create and manage businesses. This is what is done in all successful economies around the world,” he added.

He said as a result of this, the LCCI in an attempt to further contribute to the growth of the MSMEs will be collaborating with Guaranty Trust Bank to host a 5-day development programme tagged the “LITF MSMEs development programme”

According to him, the fair is enjoying ‎foreign participation, stressing that Nigeria emerging the largest African economy, has impacted positively on the fair.

“As at today, we have confirmed ‎registration from China, Japan, Cameroun, Egypt, Indonesia, Pakistan, India and the European Union delegation,” he said.

In his words: “‎This is in addition to the hundreds of indigenous large, medium and small size businesses who have booked spaces to be part of the 2015 Lagos International Trade Fair. In addition to these exhibitors, the LCCI has attracted many institutional partnerships from big corporate in Nigeria. These corporate organisations, having recognized the enormous value being brought into the economy by the Lagos International Trade Fair, have supported the Fair to ensure value delivery to all stakeholders.”

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