Lagos State Governor, Babajide Sanwo-Olu, has described the Lekki Deep Sea Port as a key part of his administration’s plan to make Lagos the leading commercial hub in West Africa.
At the closing ceremony of the 2024 Lagos International Trade Fair, Sanwo-Olu emphasized the state’s determination to take full advantage of the African Continental Free Trade Agreement to drive regional trade and economic growth.
Sanwo-Olu said “Recognising our strategic role within Africa, we have established the Lagos State Technical Working Group on AfCFTA to enable our businesses to benefit from the continent’s trade opportunities.
“Initiatives like the Lekki Deep Sea Port demonstrate our dedication to positioning Lagos as the commercial gateway of West Africa.”
The governor emphasized the crucial role of strong infrastructure in fostering a thriving business environment.
He highlighted that his administration has facilitated loans totaling over N9 billion to support more than 13,000 Micro, Small, and Medium Enterprises through the Lagos State Employment Trust Fund.
He stated that MSMEs are the backbone of any economy and further noted that Lagos has invested in training these businesses in areas such as branding, digital marketing, and other critical skills to help them remain competitive in the global market.
The President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, commended the resilience of participants in this year’s trade fair, highlighting their determination to succeed despite ongoing economic challenges.
He urged federal, state, and local governments to tackle issues such as insecurity, infrastructure gaps, and policy constraints to create a more conducive environment for business operations across Nigeria.
“We urge governments to create a more conducive business environment by improving infrastructure, tackling insecurity, and implementing policies to reduce inflation.
“This will enable us to harness the full potential of local and foreign investments, thereby diversifying our economy and improving the welfare of our citizens,” Idahosa said.
