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Lagos to expose more MSMEs to funding, market opportunities

The Lagos State government says it will continue to expose Micro, Small and Medium Enterprises (MSMEs) to funding and market opportunities both locally and internationally.

The state governor, Babajide Sanwo-Olu gave the assurance at the closure of the recently held 6th Lagos State Micro, Small and Medium Enterprises Exclusive fair with the theme: “Effects of COVID-19: Charting the way forward for MSMEs.”

Three smallholder business operators: Idong Benson, Olanike Badmus and Zulikat Ibrahim were, at the fair, supported by the state government with N500,000, N750,000 and N1,000,000 respectively to strengthen their businesses.

According to Sanwo-Olu, his administration was also poised to deepening MSMEs’ access to funds to expand their operations and strengthen their base.

Read Also: CBN advances loans to MSME at single digit

Sanwo-Olu, represented by Folasade Jaji, the secretary to the state government, urged the MSMEs to leverage the knowledge and network gained during the week-long fair to build stronger business networks.

He called on the MSMEs to tap into the strategies suggested to promote their businesses and make them more accessible to customers from around the country and across the globe.

“In line with the THEMES Agenda of making Lagos State a 21st century economy, MSMEs will continue to receive support from the Lagos State government in various ways.

“The trade fair has provided immediate market: created awareness and provided a platform to interact with government and customers in the last six days.

“Let me assure you again that the Ministry of Commerce, industry and cooperatives will continue to ensure MSMEs visibility and exposure, not just on the local but also on international stage,” said Sanwo-Olu.

He urged the participants to leverage the knowledge gained all through the fair to connect to new partners.

“Therefore, I also urge you all to continue to optimise, adapt and innovate and by so doing secure your pride of place at the forefront of the times we are in,” he said.

Speaking also, Lola Akande, the state commissioner for commerce, industry and cooperatives, urged the MSMEs to use the impact of the fair to revitalise the entrepreneurial flame to sustain businesses and propel them to new heights.

According to Akande, this will help position the MSMEs for growth and continued yield of tangible dividends, long after the fair.

“It is hoped that enough impact has been made and the lessons learned, would lead to improved business awareness, potential partnerships and the beginning of viable customer relationships.

“The exuberance of the participating MSMEs is a testament to the commitment to the sustainability and inevitable prosperity of your various businesses.

“Your undeniable tenacity through adversity, as evidenced by your enduring operations in spite of the COVID-19 pandemic, with all its negative effects on commerce is no mean feat,” she said.

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