Manufacturers, SMES leverage opportunity in 2020 Trade Fair as FG, Lagos pledge support

Manufacturers and owners of small businesses are tapping opportunities offered by the 2020 Lagos International Trade Fair.

As of Friday, during the opening ceremony, many small businesses were seen interacting with potential buyers, discussing partnerships with traders, dealers and importers.

“This is an opening day, but our hopes are high,” Chinenye Egbu, CEO of a small-scale baking firm, who was putting up her structures, said.

Another small business owner, Kamaradeen Awoniyi, said he expected to strike an international deal at the fair, stressing that negotiations had begun. Businessday saw manufacturers like Erisco Foods, Dangote Group and many others in their stands, discussing and negotiating with potential partners.

Meanwhile the Federal Government has pledged to support these businesses to grow and create jobs for the economy.

President Muhammadu Buhari said at the opening ceremony of the trade fair the his government had provided support through the N2.3 trillion Economic Sustainability Plan, N75 Billion MSME Survival Fund and the implementation of the National Industrial Revolution Plan (NIRP).

Buhari, who was represented by Niyi Adebayo, minister of Industry, Trade and Investment, called for private sector collaboration in infrastructure development and assured that his government was committed to making Nigeria realise its industrial dream.

On his part, Babajide Sanwo-olu, Lagos State governor, said his government would provide loans, grants and tax rebates to businesses looted by hoodlums during the recent #ENDSARS protest.

Represented by Obafemi Hamzat, deputy governor of the state, Sanwo-olu said many businesses had been thrown into confusion after the looting, assuring the private sector that the state government was trying to restore hope and confidence in the state.