Lagos, Nov. 30, 2022 – The Lagos State Governor, Mr Babajide Sanwo-Olu, has commended the resilience of small and medium scale entrepreneurs despite the harsh business environment
Sanwo-Olu, who was represented by the state Commissioner for Commerce, Industry and Co-operatives, Mrs Lola Akande, gave the commendation at the closing ceremony of the 2022 Lagos International Trade Fair held yesterday.
He commended the exceptional will-power of participants, especially the small and medium entrepreneurs, whose level of participation at the annual exhibition had remained very strong.”
Sanwo-Olu said that the realities of the time had placed on us the responsibility of creating and harnessing opportunities through improved private sector participation to accelerate economic growth, create more jobs for our teeming youths and enhance our revenue generating capacity.
“We will continue to work hard and implement innovative and creative ideas driven by technology to meet expectations and the aspirations of Lagosians for a Greater Lagos that is functional, productive safe, secure and provides limitless opportunities for all.”
According to him, value creation is the bedrock of any business. It is what sets a brand apart from competitors, secures customers loyalty on long-term basis and brings distinct meaning to the brand with the solution it provides.
He said that the understanding of value creation and connecting businesses in this volatile economic space was germane.
“There is the need for deliberate and meaningful engagement with key stakeholders in order to enhance an understanding of the positive impacts of networking in business.
“This can form a basis for continuous assessment of the benefits, and development of strategic roadmap towards its long term implementation, while drawing on the strength of e-commerce or digital marketing.
“These will help to reduce overhead cost, increase profit and create more wealth among other benefits,” he said.
The President of LCCI, Dr. Michael Olawale-Cole, urged government to provide enabling environment for businesses
“It is our hope that the governments at all levels would continue to address the issues of enabling environment in the country, especially as regards infrastructures, insecurity, and right policies to fix the key drivers of high inflation. (GBN)
