Experts back SMEs growth with support for Lagos Leather Fair
In alignment with its ethos of engendering talent diversification, promoting creativity and enabling growth for the Small and Medium Enterprise sector in Nigeria, experts have endorsed the Lagos leather fair, an event that gave spotlight to the potential value of West Africa’s leather industry.
The Lagos Leather Fair 5 (LLF5), which was held in Lagos, from June 11 to 12, 2022, featured fashion experts, manufacturers, designers, leather enthusiasts, creatives, and leading leather industry experts in Nigeria and Africa.
Olusakin Labeodan, group chief Marketing Officer, Leadway Holdings stated that the creative industry, especially the fashion space, has been gaining relevance, unleashing creativity and enabling budding young enterprises to build brands and a sustainable economic future for themselves.
“Over the years, we have seen phenomenal growth in the creative space as more creative minds and enterprises showcase their innovative works beyond the shores of Africa, thereby placing a premium on our collective innovativeness and elevating our capacity for value creation,” Labeodan said.
Read also: The rise of SMEs
According to the Ministry of Industry, Trade, and Investment, Nigeria has over 37 million micro, small and medium-scale enterprises (MSME), accounting for more than 84 per cent of total jobs creation in the country, 48.5 per cent of the gross domestic product, GDP, as well as about 7.27 percent of goods and services exported out of the country.
This remarkable data demonstrates the MSMEs’ superior contribution to economic development and why they need support. The Leather industry is consistently propelled by the energies and creativities of the MSMEs, and we are pleased to be a part of this journey as active supporters”.
“We are talking about intra-African trade and we have been addressing it from the perspective of Nigeria to the world. Once it opens up that means our market will be opened and as an SME you are competing with the world, there will be a benchmark of what you are producing with the best across the world,” said Akinyemi Alebiosu, Regional Strategy Coordinator, Leadway Assurance.
Commenting on the sponsorship, founder, Lagos Leather Fair, Femi Olayebi, said, “We’re excited to be back for our fifth edition, and in partnership with proud sponsors and forward-leaning corporates like Leadway, to continue to create massive visibility for both starting and established designers.