• Saturday, July 13, 2024
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LASG pledges greater support for MSMEs

Access to credit is a key catalyst for MSME growth

Lagos State has reiterated its supports to Micro, Small and Medium Enterprises (MSMEs) operating in the state.

At the just concluded 4th edition of Lagos MSME exclusive fair, which held at the Agege Stadium, the state governor, Babajide Sanwo-Olu, represented by Folashade Jaji, the secretary to the state government, noted that the supports to the MSMEs was important because of the catalytic role they play in growing and sustaining the economy of any state.

“The potentials of the MSME sector in terms of creativity, innovation, entrepreneurship development, wealth creation, value addition and employment generation are too attractive to be ignored by any discerning government in the 21st century.

It is for this reason that we have deemed it expedient to initiate and sustain policies and programmes to empower our people. One of such initiatives is this MSME Exclusive Fair which is flagship trade fair and exhibition in Lagos State that gives indigenous small businesses increase leverage for greater visibility,” said the governor.

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Similarly, Lola Akande, the commissioner for commerce, industry and cooperatives, whose ministry organised the fair, said that MSMEs deserved the support because they were the engine of economic growth.

“MSMEs have been playing an important role in our state and the nation. It therefore behooves the government at all levels to strengthen these agents of economic change.

As one of Nigeria’s most endowed economies, Lagos State has a lot of business opportunities and entrepreneurial potential which are being tapped by industrious and innovative citizens for the growth and development of the economy,” said Akande.

On the essence of the fair, Oladele Ajayi, the special adviser on commerce, industry and cooperatives, explained that MSME fair was conceived to develop an innovation-driven private sector-led economy by enhancing productivity and visibility of local businesses through a dedicated marketing platform.

“Reports from previous editions have been very encouraging and the current administration in the state is committed to not only sustaining the spirit of the fair, but raise the bar international standards,” said Ajayi.