…..Strengthening private partnership crucial to economic sustainability – German Consulate
…..Lagos Island would be transformed beyond recognition in five years – Hammond
…..We are working to avoid another ENDSARS debacle – Yemisi Ransome-Kuti
By Moses Adeniyi
Stakeholders in Lagos Island gathered on Friday to further boost economic productivity in the Local Government Area, particularly on strengthening youth participation to boost the economy of the area and Lagos State at large.
Lagos State Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs.) Lola Akande on this note said the State is shaping the orientation of doing business in the State by encouraging young people to become social entrepreneurs.
The Commissioner who spoke at the maiden edition of Lagos Island Business Fair, 2022, on Friday said youths must be actively productive to change the prevailing narratives of the economy.
Quoting Muhammad Yunus, she encouraged young people to “become social business entrepreneurs and contribute to the world, rather than just making money.
“Making money is no fun. Contributing to and changing the world is a lot more fun,” the Commissioner who was represented by the Permanent Secretary of the Ministry, Adetutu Oluremi said.
She said the theme of the Fair: “EDU-SOCIAL for Entrepreneurs in Lagos Island, and Lagos State towards Social Economic Empowerment”, is no doubt very interesting and apt.
According to her, such platform for businesses to participate and reconnect against all odds, particularly, considering “the economic challenges being faced by businesses across the globe,” was important.
“The aim of providing business Education and Networking for SMEs and Artisans in Lagos Island and creating a platform to galvanise the enormous potentials existing in Lagos Island is no doubt commendable,” she said.
Akande said such commitment was important toward building the capacity of youth-oriented enterprises, with the goal of providing opportunities for growth and increasing prosperity amongst Lagos Island youths.
“I believe this platform can leverage socio-economic networking and Information technology to provide more interactive opportunities for the teeming youth of Lagos Island and its environs from diverse cultural, religious, social and educational backgrounds, to advance their businesses and services,” she said.
According to her, the State Government is collaborating with the organisers of the Fair because it aligns with the policy of the Governor Babajide Sanwo-Olu led administration of “creating a conducive environment for businesses to thrive, widening access to market and encouraging networking and collaboration among entrepreneurs in line with the Fourth Pillar of the T.H.E.M.E.S Development Agenda, which is Making Lagos A 21st Century Economy.”
“This also becomes necessary because the Fair lines up with the Federal Government’s Policy on diversification of the economy from the focus on Oil to Non-oil Export.
“The Lagos Island Business Fair falls into the category of other similar events in which the administration, through the Ministry of Commerce, Industry and Cooperatives, collaborated to ensure exposure of MSMEs to the outside world,” she added.
On the State’s effort to boosting commerce and industry, she said such similar platforms put in place include: “The organisation of the Maiden Leather Fair in partnership with the Lagos State Shoemakers Association; NACCIMA Women Group Trade Fair and Exhibition (NAWORG); NASSI Exclusive Trade Fair, among others.
“The Lagos State Government, through the Ministry, also organises Annual MSMEs Exclusive Trade Fair/Exhibition and the Maiden Management Capacity Building for MSME Operators on Agribusiness (E-COMAGBUS).
“More so, the Ministry gave technical and logistic support to Senator Solomon Olamilekan Adeola (YAYI) sponsored programme tagged: ‘Lagos West Fair 2022’. These proved that we are always willing and ready to collaborate with stakeholders to provide leverage and access to market for MSMEs.”
She charged all stakeholders to remain committed and be encouraged to drive the economy of the State, to create wealth and change the narratives of how businesses should be done in the 21st century, using information technology to drive business in line with world best practices.
She acknowledged and expressed appreciation to the organisers, exhibitors and visitors at the Lagos Island Business Fair for their role in making the first edition a success.
In her remarks, the Co-Founder Lagos Island Connect (LIC), Ms. Yemisi Ransome-Kuti said the economy “being the start and end of everything”, requires main elements of adding more workers to the workforce, and pushing productivity higher and thereby producing more goods & services to achieve growth.
According to her, the orientation informed “the long & short of it and the very catalyst behind this programme.”
“The local government is the foundation upon which good governance & prosperity is built, hence our focus on that critical level of development.
“Without functional & effective institutions at the LG level, we build our policies & strategies on shifting sand,” she argued.
She mentioned that the EndSARS debacle resulting from the rage of the youth “when they felt marginalised and don’t have access to productive” endeavours, further informed the LIC (Lagos Island Connect) to organise LIBIZFAIR & other programmes to address some of “these challenges facing our young folks and businesses.”
In her remarks, the Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs) and Investments, Mrs. Solape Hammond, said collaboration on business connectivity in Lagos Island has been strengthened with critical engagement through economic summit by addressing needs to chart way forward on business demands.
She said as the richest Local Government Area in the State and the Country, turning potentials in Lagos Island to active capital would boost economic profile in the State.
Stating that with the action plans and broad engagement, development on the Island would be revolutionary and transformative, making it difficult to “recognise Lagos Island in the next five years.”
Mentioning that the initiatives are directed to enable young people step out of their ways to optimise the potentials, Hammond said Lagos Island has everything it needs to thrive.
According to her, based on Survey Studies, central recommendations for essential needs to boost the development plans include the need for great awareness on government activities, opportunities and empowerment programmes; the need to strengthen skill acquisition and career programmes in Lagos Island and strongly leveraging technology.
She emphasised the need for safe spaces for good association and socialisation openly and legitimately without any fear running on a 24hr nonstop ecosystem.
Development Consultants, Toki Mabogunje, said Lagos Island Business Fair 2022 was designed to bring into force new realities to boost business connectivity to meet present and future needs of businesses in Lagos Island in particular and Lagos State in general.
She called for the extension of such connectivity model to other Local Government Areas in the State.
In her remarks, the Deputy Consul General/Head Economic Department, Kingdom of Netherlands, Leonie Van Ser Stijl said development demands key essentials on harmonising equity and equality for sustainable economy.
Mentioning that a lot more must be done on equity and equality, she said it was important attention be placed on the environment, while fortifying significance of private sector participation.
Emphasising the importance of private sector participation, she said while civil servants sit to stare at problems, entrepreneurs take up the courage to address the challenge by meeting pressing needs.
Lagos Island Connect (LIC), is a novel youth driven, not-for-profit organisation in partnership with the Office of Sustainable Development Goals and Investment (OSDGI), Lagos State Ministry of Commerce, Industry & Cooperatives, the Lagos Chamber of Commerce & Industry (LCCI), GIZ, the Lagos Island Local Government and the Lagos Island East LCDA. It was created a fit-for-purpose socio-economic model that is designed to meet both the present and future needs of businesses & youth population in the Lagos Island Area and Lagos State at large.
The Lagos Island Business Fair (LIBIZFAIR) 2022, spearheaded by the Ministry of Commerce, Industry & Cooperatives, under the leadership of Dr. Mrs. Lola Akande, is the culmination of dedicated effort by stakeholders to realise collective vision of a new Lagos Island that can propel socio economic development & meet the sustainable development goals of the 21st century.