Governor Akkinwunmi Ambode of Lagos State says Nigeria must channel her diversification efforts towards the promotion of Small and Medium Scale Enterprises (SMEs) as engine of economic growth.
Ambode stated this at the close of the 2016 Lagos International Trade, describing SMEs as a goldmine waiting to be fully explored, saying, “To achieve meaningful and sustainable growth. Our diversification effort must be centred largely on the MSMEs. I see this sector as a goldmine that is yet to be fully harnessed.”
The governor said in Lagos, his administration was making effort to encourage business by creating the enabling environment, saying, “This administration will remains committed to the growth and sustenance of this all-important sector that can catalyse non-oil economic growth in Lagos State and Nigeria at large.”
The governor added that much effort had also been made to secure the state and further create conducive environment.
“We have stepped up the security apparatus in our state to deal decisively with those criminal tendencies. The protection of all physical, social and economic assets, whether public or private, has remained a focal point for the state government.
“With respect to landed properties, in order to stem the menace of land grabbers, I recently signed a law which has criminalised the activities of land grabbers with prison terms ranging from two to 10 years upon conviction,” Ambode said.
The governor also assured that efforts were being intensified to deal with the issue of traffic and forestall losses arising from traffic challenge.
Also speaking, Nike Akande, president, Lagos Chamber of Commerce and Industry (LCCI), the organiser of the fair, emphasised the need for Lagos State to improve on the environment of doing business.
“We would always advocate for a conducive business environment where private businesses can thrive. The private sector has a bigger capacity to create jobs and lift people out of poverty.
“We look forward to a Lagos State that would be the pride of Africa. Let me use this opportunity to congratulate Governor on proactive and visionary leadership offered by him to the people of Lagos State,” she said.
Rotimi Ogunleye, Lagos State commissioner for commerce, industry and cooperatives, said the annual international trade fair and others had continued to provide a platform for small businesses to showcase their potentials.
The commissioner, who said the state government had over the years sponsored small businesses to various trade exhibitions, said “this is one of the ways in which the state government is promoting and providing network platform for our MSMEs to stimulate demand for their products and services and ultimately facilitate the enhancement of their productivity.”
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