By BAMIDELE DUROJAIYE
THE Executive Director, Lagos International Trade Fair Complex, Barr. Vera Ndanusa, has said in order to fulfill the President Bola Tinubu’s campaign mantra, “The Renewed Hope Agenda”, the government has carefully put together the mother of all trade fair targets to revamp the economy and regain trust of the people.
Tagged the “Commercial and Industrial Trade Fair”, Ndanusa said the aim is to boost economic growth, attract investments, create jobs, and stimulate economic activities.
Speaking with journalists on Monday on the occasion of the trade fair slated November 15, 2024, she said revamping the economy from the long decade of mismanagement remains the focus of the President Tinubu-led government, 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.
“It 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.
Ndanusa said the Fair, which will last for 11 days, took 14 years to return to the complex arena at the Badagry Expressway Lagos, as the efforts put an end to revenue loss due to the federal government.
She said: “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.
Ndanusa continued: “The sustenance of the Fair at its original site will restore industrial development,” 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 facilitates knowledge sharing and adoption of new technologies, adding that it would boost the information technology sector of the country, which is where the world is headed.
Stating 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.”