The Lagos Chamber of Commerce and Industry (LCCI) has called on governments at all levels to address the issues of enabling environment in the country.
The president of LCCI, Dr. Michael Olawale-Cole stated this at the closing ceremony of the 2022 Lagos International Trade Fair held yesterday.
Olawale-Cole stated, “it is our hope that the governments at all levels would continue to address the issues of enabling environment in the country, especially as regards infrastructures, insecurity, and right policies to fix the key drivers of high inflation.
“We need to do these in order to fully harness the huge enterprising resource of domestic and foreign investors for the diversification of our economy and the welfare of our people.”
He added that, despite the numerous challenges that go with hosting a large exhibition like this, we have endeavoured to ensure a hitch-free and successful fair.
“However, as in most human endeavours, there may have been some areas for improvement. We have taken note of such as feedback into the strategy for the 2023 edition.”
He thanked President Muhammadu Buhari and the Lagos State Governor, Mr Babajide Sanwo-Olu, saying “we applaud the disposition and commitment of Lagos State Governor to the promotion of close collaboration between the State government and the Organised Private Sector in Lagos.”
Speaking, Lagos State governor, Mr Babajide Sanwo-Olu commended the exceptional will-power of participants especially the Small and Medium Scale Entrepreneurs, whose level of participation at the annual exhibition has remained very strong despite the prevailing business environment.”
He believed that business owners and investors have taken due notice of the essence of the theme of this year’s fair ‘Connecting Businesses, Creating Value’, saying, it is a wake up call for every entrepreneur because it is a potent strategy to grow a business and overcome the challenges prevailing in every business environment globally.
Sanwo-Olu noted that “the realities of the time have placed on us the responsibility of creating and harnessing opportunities through improved private sector participation to accelerate economic growth, create more jobs for our teeming youths and enhance our revenue generating capacity.
“We will continue to work hard and implement innovative and creative ideas driven by technology to meet expectations and the aspirations of Lagosians for a Greater Lagos that is functional, productive safe, secure and provides limitless opportunities for all.”
According to the commissioner for Commerce, Industry and Co-operatives, Mrs Lola Akande, value creation is the bedrock of any business. It is what sets a brand apart from competitors, secures customers loyalty on long-term basis and brings distinct meaning to the brand with the solution it provides.
“Without creating value for business, its unique offering will be lost, among other commodities, to the target market,” she said.
She pointed out that 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. These will help to reduce overhead cost, increase profit and create more wealth among other benefits,” she stressed.
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