Governor Babajide Sanwo-olu has disclosed that his government invested a total sum of N103billion on infrastructural development to ensure success of businesses located in Lagos among which are the Micro, Small and Medium Enterprises(MSMEs)
Sanwo-olu said via the Secretary to the State Government, Mrs Folashade Jaji, who represented him during the opening ceremony for the 6th Lagos State organised MSMEs Exclusive Fair Tuesday maintained that Lagos is determined to ensure the survival of MSMEs despite the challenges posed by Covid-19 pandemic. The fair will end coming Sunday
Top MSMEs brands like Grandma Foods, Goshen marble, Spectra’s Sobake brands etc were among the brand products that participated at the fair. As well top personalities like the Commissioner for Commerce and Industry, Mrs Lola Akande, House of Reps member, Prince Bayo Balogun, Chairman House Committee on Commerce, Industry and Cooperatives, Bisi Yusuf, Chairman, National Association of Small Scale, Industries(Lagos State Chapter),Mrs Gertrude Akhimen, President, Association of Food Agro Processors of Nigeria(AFAPN), Duro Kutiyi among others graced the Fair.
According to the Commissioner for Commerce and Industry the support the government gives to MSMEs is worthy because that group of businesses contribute over 80% of employment globally speaking, saying in Nigeria due to the fact that most MSMEs are in the informal sector their value is hardly noticed.
In the era of Corona various economy in which we live today, she disclosed that MSMEs need to leverage on technology in order to succeed, saying according to recent studies 68% of MSMEs that leveraged on technology are more likely to see growth than their counter-parts,
Prince Balogun in his contribution urged the audience to support the move being made at the National Assembly to remove the issues of security and power(electric power)from the exclusive list, saying that if this was achieve then it would be easier to solve the power predicament bugging the operation of most MSMEs in Nigeria.
Also he enjoined the MSMEs to partner closely with the Lagos State government, especially on the issue of packaging and marketing ,saying that is another area that are problematic for small businesses in the country.
Mrs Udo Stephanie Akwara, CEO, Grandma Foods in a chat told us the company hopes to avail the opportunities at the MSMEs fair to boost their clientele and create needed awareness ,saying that their brands are second to non in the Agric value processing chain.
She was grateful about the opportunity offered by the fair and hoped that more opportunities like the Lagos exclusive MSMEs fair is made available to small businesses, saying that its one of the ways that government can use to enable businesses today.
Mr Sam Omole of Lagos Business School in his lecture called on the MSMEs to review their business operation and processes, introduce budgeting in their strategy, deploy information technology as a way of surviving post Covid-19 and to have a business plan.
