Lagos Trade Fair to address economic recession – LCCI

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Muda Yusuf, Director-General Lagos Chamber of Commerce and Industry (LCCI)
Muda Yusuf, Director-General Lagos Chamber of Commerce and Industry (LCCI)

The Lagos Chamber of Commerce and Industry (LCCI) has said the 2016 Lagos International Trade Fair (LITF) would open opportunities to address the current economic recession in the country.

Mr Sola Oyetayo, LCCI Vice Chairman, disclosed in Lagos on Wednesday that the fair would provide opportunities to look inwards and boost capacity.

“This fair will open a window of opportunities to take advantage of the current situation in the economy to take action.

“This is not the time to pass blames on anyone but to take up responsibility and contribute our quota to the growth of the economy,’’ said the LCCI boss.

He said that the economy had been diversified to a certain level, with the new awareness on patronage of made-in-Nigeria goods and services, but added that more work needed to be done.

“This fair will attract more foreign investors because there is a lot of interest in the country, as the economic diversification efforts increase.

“There will be over 500,000 visitors from all over the world, and so many SMEs will grow to multinationals through this year’s fair.

“This is because the array of opportunities will come from products where we have comparative advantage,” Oyetayo said.

He said that 22 states of the federation had already registered to participate while hundreds of small and medium companies as well as banks and other multinationals would be showcasing at the fair.

“This year’s fair will hold from Nov. 4 to Nov. 13 2016, and it will mark the 30th anniversary since the LCCI took over the organisation of the fair from the Federal Government,” Oyetayo said.

He appealed to the government and relevant agencies to support in truly delivering the nation from over-dependence on importation and crude oil earnings.

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