By Franklin Alli & Naomi Uzor
President Umaru Musa Yarâ€™adua, weekend, tasked trade fair organisers (chambers of commerce) in the country to our domestic fairs to promote new technological and industrial innovation by Nigerian scientists and industrialists.
The President made this charge when he declared opened the 24th edition ofÂ Lagos International Trade Fair, styled â€œTurning the global economi
c crisis into new opportunities.â€
Represented by the Minister of Commerce & Industry, Chief Achike Udenwa, P resident Yarâ€™adua, asserted that showcasing the countryâ€™s technological and industrial breakthroughs are critical to the attainment of vision 2020, stressing that the essence of trade shows are to display technological innovations.
â€œOur fairs, therefore,Â Â should be avenues for showcasing of new products from our industries and creating avenues for scientists, innovators, industrialists, wholesalers, retailers and consumers to meet and interact so as to further boost industrial production.â€
However, according to NACCIMA President, Dr. Simon Okolo, if Nigeria is to become one of the twenty most industrilaised nations of the world by the year 2020, the Federal Government must put in place appropriate strategies directed at achieving the promised provision of the 6,000 megawatts of electricity supply.
â€œWe equally urge the government to take necessary steps to further ensure the security of lives and property as a way of attracting the much needed foreign direct investment into the coutry, which could turn the global crisis into new opportunities in Nigeria,â€ said Okolo.
The President of Lagos Chamber of Commerce and Industry (LCCI) Asiwaju Solomon Onafowonkan has urged investors to focus on opportunities offered by the platform in terms of networking to expand their businesses.
â€œA good entrepreneur would see opportunities where others see challenges and would in fact transform the obstacles to stepping stones for higher profitability.
No doubt, the global economic crisis has taken its toll on business performance. aggregate demand for our products has contracted, credit conditions has become tighter, interest rate has worsened, manufacturing capacity utilization has declined, capacity of businesses to service their debts has weaken and the stock market experienced the worst downturn in recent history.
But despite all these, we have a collective responsibility to restore business confidence, we need to reconstruct the mindsets of investors to focus on the opportunities rather than the problems,â€ he stated
â€œI am confident that our valued exhibitors would get the benefits of participation at this fair. They would expand their business horizon through development of new partnerships, new customers, feed back from their customers, and showcasing their products not just to the Nigerian market but also to the continental and global markets, said Chairman Trade Promotion Board, LCCI, Mr. Goodie Ibru.