Nigeria
The Executive Director, Lagos International Trade Fair Complex, in southwest Nigeria, Barr. Vera Ndanusa has given reasons why the government should always hold a strategic trade fair for economic growth.
She said as crucial as it is, the current administration led by President Bola Tinubu came with a
mantra, “The Renewed Hope Agenda”, aimed at revamping the economy and liberating Nigerians.
“Running with the mantra, I carefully put together the mother of all trade fairs in line with the President’s mandate”, Ndanusa said.
Tagged the Commercial and Industrial Trade Fair, she said the aim is to boost economic growth, attract investments, create jobs, and stimulate economic activities.
Speaking with our correspondent on Tuesday on the occasion of the Fair slated 15th November, 2024, Ndanusa emphasized that revamping the economy from the long decade of mismanagement remains the focus of President Tinubu, which her office is determined to actualise.
“The Fair among other activities is focused on increasing trade volume, exhibitions to facilitate business-to-business (B2B) and business-to-consumer (B2C) transactions.
“Promotes exportation by showcasing Nigerian products aimed at increasing export potentials, as well as encouraging foreign investments.
“International participation attracts foreign direct investment (FDI)”, she said.
The Fair which will last for 11 days took 14 whole years to return to the Complex arena at the Badagry Expressway Lagos, Ndanusa said with pride as the efforts put an end to revenue loss due to the federal government.
“This Fair has returned to status quo, being the purpose it was established in November 1977, by the then Military Head of State, Lt. Gen. Olusegun Obasanjo and like I have said in several fora, it will be a yearly event”, she said.
“The sustenance of the Fair at its original site will restore industrial development, Ndanusa continued, adding that entrepreneurship and industrial capabilities will be reborn through the yearly event.
“It will also showcase local talents, foster collaboration, and encourage partnerships between local and international businesses”.
She said technology transfer as well as facilitates knowledge sharing and adoption of new technologies will boost the information technology sector of the country, which is where the world is headed.
Giving further reasons why the Fair must be sustained, the Fair CEO explained that youth development will receive a boost as the country will celebrate job creation and skills acquisition through the yearly event.
According to her: “Trade fairs create temporary and permanent jobs. Workshops, seminars, and training sessions enhance entrepreneurship and vocational skills.
“It promotes national unity where people come together from diverse regions and sectors, as well as fosters trade between Nigerian states”.
She continued: “Others are international recognition and enhanced global visibility.
“Trade fairs showcase Nigeria’s economic potential to international audiences, attract international organizations, and encourage participation from global organizations.
“It generates and boosts government revenue through exhibition fees, sponsorships, and taxes.
“This fair will promote innovation, promote research, support SMEs and foster healthy competition”, she said.
