Lagos Is Stimulating Economic Growth With Policies, Programmes – Commissioner

The Lagos State Ministry of Commerce, Industry and Cooperatives has said the policies, programmes and projects of Governor Babajide Sanwo-Olu led administration are aimed at providing a conducive environment and stimulating business growth in the State.

The commissioner for Commerce, Industry and Cooperatives, Dr. Lola Akande disclosed this known at the opening ceremony of Ikorodu Division Expo organised by Ikorodu Chamber of Commerce and Industry in collaboration with the Lagos State University of Science and Technology, LASUSTECH, held at the Institution’s campus on Monday with the theme; “MSME: Key to an Inclusive and Sustainable Recovery for Economic Development”.

Akande, represented by the permanent secretary, Mrs. Adetutu Ososanya, asserted that the administration of Mr. Governor, Babajide Olusola Sanwo-Olu has been intentional about implementing programmes and projects meant to support businesses in the state.

“Recently, very ambitious projects initiated, facilitated or supported by the State Government were commissioned. These include the Lekki Deep Sea Port in Ibeju Lekki; Lagos Rice Mill in Imota, here in Ikorodu; 18.75km Eleko-Epe six-lane rigid pavement expressway; the first phase of the 13 kilometres Lagos Blue Light Rail and others. Without doubt, these projects are already impacting labour and many enterprises positively in different parts of the State. Ultimately, MSMEs will form the greater percentage of beneficiaries as they work towards sustainable recovery for economic development, ” she said.

Describing e-commerce as an enabler for business resilience and recovery, she declared that the successful completion of the first phase of the Lagos Smart City/Fibre Duct Infrastructure Project will drive business activities, particularly of MSMEs whose operations depend on fast internet access.

“The implementation of the project, which has recognised e-commerce as the new goldmine, will promote the penetration of digital technology in our economy and enable businesses to latch on to the numerous benefits of online platforms such as social media, global e-commerce platforms and websites to facilitate MSMEs access to wider markets, leading to increased patronage, production, employment generation and faster economic recovery.

Thus, MSMEs higher digital maturity will reflect positively on the income of small business owners”, she said.