Lagos State Governor, Mr. Babajide Sanwo-Olu has restated the commitment of his administration to the growth of MSMEs in the State.
The Governor stated this during the official opening of the 5th Edition of the Lagos State Micro, Small and Medium Enterprises (MSMEs) Exclusive Fair organised by the Ministry of Commerce, Industry and Cooperatives at the LTV Blue Roof, Alausa, Ikeja.
The Governor, represented at the event by the Secretary to the State Government, Mrs. Folashade Jaji, noted that MSMEs are a foremost catalyst of the State’s industrialisation drive, assuring that the present administration will give utmost attention to the sector.
Sanwo-Olu opined that this year’s theme “MSMEs in the time of COVID-19: Survival Strategies to Beat the Odds”, is apt and timely given the importance and roles MSMEs can play as a springboard for economic recovery.
The Governor urged the MSMEs to start thinking more strategically with technology as digital capabilities are the key drivers in surviving the challenges posed by the Coronavirus pandemic.
The Commissioner for Commerce, Industry and Cooperatives, Mrs. Lola Akande stated that according to statistics, the MSMEs sector provides about 48% of the GDP of Nigeria and accounts for 96% of businesses, revealing that Lagos State has the highest number of MSMEs.
She noted that the Fair is part of the government’s effort to continually provide aid to entrepreneurs and business owners in order to mitigate challenges faced and lauded the tremendous support of the present administration towards the development of MSMEs in the State.
