By Rukayat Moisemhe

The Lagos State Government has reiterated its readiness to create value for businesses by adopting policies that encourage entrepreneurs in line with global best practices.

Dr Lola Akande, Lagos Commissioner for Commerce, Industry and Cooperatives, said this at the closing ceremony of the Lagos International Trade Fair (LITF) on Sunday in Lagos.

The 2022 LITF which is in its 36th edition is organised by the Lagos Chamber of Commerce and Industry (LCCI).

Akande, describing value creation as the bedrock of any business, said it distinguished a brand from competitors and secured customers’ loyalty on long-term basis.

She said that the administration of Gov. Babajide Sanwo-Olu of Lagos State, had put in place a dogged public service that was working to facilitate an enabling business environment for all.

Akande added that the administration continued to maintain the status of a committed business crusader, creating public values for entrepreneurs in an unstable environment due to global economic challenges.

“Without creating value for business, its unique offering will be lost, among other commodities, to the target market.

“The understanding of value creation and connecting businesses in this volatile economic space is germane.

“There is the need for deliberate and meaningful engagement with key stakeholders in order to enhance an understanding of the positive impacts of networking in business.

“This can form a basis for continuous assessment of the benefits, and development of strategic roadmap towards its long term implementation, while drawing on the strength of E-Commerce or digital marketing,” Akande said.

She said that Lagos; with a population of over 20 million and a top destination for investors and tech startups in the global tech market would continue to provide support.

Akande noted that by the efforts of the state government, technology entrepreneurs have come to know Lagos as one of the most improved environments to do business.

According to her, out of over $1.7 billion venture investments that came into Nigeria, 70 per cent came into Lagos start-ups.

“Over the past six months, about one billion dollars in data centre investment has poured into Lagos because of some of the projects the state is executing and some of the regulations we are pioneering.

“The administration of Sanwo-Olu has a Smart City Plan to transform Lagos into a technology-driven state, hence, connecting businesses, creating value for stakeholders in the various sectors of the economy to thrive in their day to day business activities,” she said.

Mr Keye Kupoluyi, Chairman, Trade Promotion Board, LCCI, lauded the efforts of the state and federal governments, regulatory and traffic management agencies, sponsors, exhibitors and all participants at the 2022 LITF for their immense support.

“We have done our best within the limits of prevailing circumstances to ensure a hitch-free fair.

“I am confident that our exhibitors got value for their participation at this fair,” Kupoluyi said.


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