Nigeria building economy resistant to shocks —Minister
Minister of Commerce, Trade & Investment Dr. Okechukwu Enelamah has assured Nigerians that the Federal Government was committed to providing an enabling environment for the private sector to thrive in the country.
He said government was learning from Singaporean model, which though is a small country, but has become a hub globally for businesses and stress the FG was building an economy resistant to shocks.
The minister spoke at the opening ceremony of the ongoing 30th edition of the Lagos International Trade Fair holding at the Tafawa Balewa Square, Lagos.
He said the agenda of government was to achieve inclusive growth and a robust economy that weathers shocks and resilient to volatility.
Lagos Chamber of Commerce & Industry (LCCI) Director- General Mr. Muda Yusuf used the occasion to canvass for the support of the Federal Government for a permanent site for expositions and trade fairs in Lagos.
He lamented that LCCI could not hold frequent trade and exhibitions, especially for small and medium-sized enterprises (SMEs), urging the government to support a Public-Private Partnership (PPP) to boost trade.
“Some years ago, the government built a conventional trade fair complex in Lagos along the Lagos/Badagry expressway, but because of poor management of the infrastructure, the place was concessioned out.
“The government has been urged by stakeholders to revert the sales, but successive administrations failed to do the right thing.
In a move to counter the purported neglect by the government, the LCCI approached Lagos State to assist in constructing a befitting edifice for trade fairs”, he said.
Governor Akinwunmi Ambode, who was a special guest at this year edition of the fair with the theme, “Positioning the Nigerian Economy for Diversification and Sustainable Growth”, said the state was partnering with LCCI on its advocacy for the enthronement of policy consistency through alignment of fiscal and monetary policies.
He said this would address the myriad of bottlenecks impeding industrialisation, trade and investment. Ambode assured the business community of his commitment to improving the business environment and making it more attractive to investors.
The governor, who was represented by the Secretary to the State Government, Mr. Tunji Bello, pledged his readiness to continue to improve on the business climate, attract more local and foreign investments into the state, create job opportunities and increase productive capacity until Lagos achieve its dream of becoming Africa’s model megacity by 2025.
The National President, Nigerian Association of Chambers of Commerce & Industry (NACCIMA), Dr. Bassey Edem, asked government to remove the challenges affecting economic expansion.
He hailed the Federal Government on efforts at rejuvenating the economy through the different policies, programmes and activities.
LCCI President Mrs. Nike Akande said the theme of the 2016 fair was chosen to underscore the critical importance of economic diversification and the creation of an enabling environment to attract new investments and grow existing ones.
