Gov. Babajide Sanwo-Olu of Lagos State on Thursday vowed continuous support for Micro, Small and Medium Enterprises (MSME) in the state to boost the economic strength of Nigeria’s business hub.
The governor made the pledge in his address at the opening of the 4th Lagos State Micro, Small and Medium Enterprises fair in Lagos.
Sanwo-Olu, who was represented by Secretary to the State Government, Mrs Folasade Jaji, said the potential of MSMEs was too attractive, numerous and enormous to be ignored by any government of the 21st century.
“It gives me a deep sense of satisfaction that we have committed to ensuring that the micro, small and medium enterprises sector of our state’s economy grows and flourishes beyond limits.
“In recognition of the importance of this sector in achieving our economic goals, this administration is focused on making Lagos a 21st century hyper-city through supporting local businesses.
“The potential of the MSME sector in creativity, entrepreneurship development, wealth creation, value addition and employment generation are too attractive to be ignored by any discerning government.
“This government will continue to create opportunities for MSMEs to thrive by focusing on the development of complementary infrastructure that helps improve competitiveness and productivity locally and globally,” he said.
Dr Lola Akande, the state Commissioner for Commerce, Industry and Cooperatives, said MSMEs deserved huge support for the vital role they played in driving the economy of the state and the nation at large.
“Without equivocation, MSMEs have been playing an important role in our state and the nation.
“It therefore behoves the government at all levels in strengthening these agents of economic change.
“As one of Nigeria’s most endowed economies, Lagos State has a lot of business opportunities and entrepreneurial potential which are being tapped by industrious and innovative citizens for the growth and development of the economy.
“Under the able leadership of Gov. Sanwo-Olu, the Ministry of Commerce, Industry and Cooperatives would continue to sustain all programmes aimed at enhancing the status of MSMEs,” she said.
Also speaking, the Chairman, Lagos State House of Assembly Committee on Commerce, Industry and Cooperatives, Mr Sanni Okanlawon, encouraged Nigerians to patronize Made-in-Lagos and Nigeria products.
“MSMEs in Nigeria are paid little or no attention in spite of their potential as the bedrock of social economic development.
“The bane of most MSMEs is the inability to finance their operations but in recent developments we have seen MSMEs accounting for economic growth and development.
“It has become expedient as a state and nation to step activities towards supporting the profitable cause of the small business enterprises.
“I want to use this opportunity to thank the governor for supporting Lagos MSMEs through this fair and other initiatives,” Okanlawon said.