MSMEs
Gov. Babajide Sanwo-Olu of Lagos State on Monday said that supporting Micro, Small and Medium Enterprises (MSMEs) remained a central pillar of his administration’s developmental agenda.
The governor said that the sector drove productivity, job creation and long-term economic stability in the state and Nigeria as a whole.
Sanwo-Olu spoke at the opening of the maiden Lagos MSMEs Exclusive and Eko Roundcity Trade Fair held at the National Stadium, Surulere, Lagos.
He was represented by the Chairman, Lagos State House of Assembly Committee on Commerce, Cooperative, Trade and Investment, Mr Abiodun Tobun.
According to him, the role of MSMEs in sustaining Lagos economy cannot be over-emphasised.
He noted that the state was responsible for 30 per cent to 35 per cent of Nigeria’s Gross Domestic Product and relied heavily on daily outputs of small businesses across markets, industrial clusters and creative hubs.
The governor said traders at Balogun and Alaba markets, fashion designers at Surulere and Yaba, tech innovators in Lekki and Ikeja, agro processors in Epe and Ikorodu, as well as countless artisans and professionals, contributed significantly to the state’s competitiveness.
“This is why my administration considers support for MSMEs not as a side programme but as a central pillar of our development agenda.
“We are renewing a clear commitment to those who keep the Lagos economy moving – the thousands of small businesses that create value in every street, market and industrial cluster across our state,” he said.
Sanwo-Olu said the trade fair offered over 3,000 MSMEs the platform to showcase their products, expand their markets and increase visibility.
He added that through the Lagos State Employment Trust Fund, about 40,000 MSMEs had received financial support, while approximately 200,000 direct and indirect jobs were created since the initiative began.
The state Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Bada-Ambrose, said the business community remained the engine room of Nigeria’s commercial growth.
She added that Lagos had continued to implement reforms to strengthen market access for MSMEs.
She said the state had invested in market development, industrial hubs, enterprise support programmes and initiatives that promoted local production to reduce dependence on imported goods.
“The fair will empower artisans, petty traders, informal-sector actors and micro-businesses by enhancing capacity, increasing exposure and deepening commercial linkages.
The Chairman of the fair, Mr Fuad Oki, described the initiative as a bridge between the state government and people at the grassroots.
“It is a new chapter of empowerment for small businesses and demonstrates what can be achieved through partnership and shared purpose, ” he said. (
