Why we are supporting business connectivity in Lagos Island — LASG

By Moses Adeniyi

Lagos State Government (LASG) has said building a business community of  strong connectivity among stakeholders in Lagos Island is an agenda it is giving strong support to in order to further strengthen the State’s economy as Nigeria’s economic nerve centre.

The government mentioned that building a synergy of such strong connectivity was essential for Lagos Island, the State’s richest Local Government Area, to optimise its potentials.

The government made the intention known when Stakeholders in Lagos Island gathered during the week end at the maiden edition of Lagos Island Business Fair, 2022, in effort 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.

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 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 Fourh 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.”

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.

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.

“The Local Government is the foundation upon which good governance and prosperity is built, hence our focus on that critical level of development.

“Without functional & effective institutions at the LG level, we build our policies and strategies on shifting sand,” she argued.

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.”

She emphasised the need for safe spaces for good association and socialisation openly and legitimately without any fear running on a 24hr non stop 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 is 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.