29th February, 2024
The Lagos State Government has restated its commitment to promoting the growth of Micro, Small and Medium Scale Enterprises in the state.
Commerce, Cooperatives, Trade and Industry (CCTI) Commissioner, Mrs. Folashade Ambrose-Medebem, at the maiden stakeholders’ meeting with Business Membership Organisations (BMOS), said the state government would formulate policies and implement programmes to promote growth of MSMEs.
She said: “Together, we need to discuss what we can do to promote diversification among small businesses by focusing more on achieving hundred per cent local content in production, to grow foreign exchange earnings.
“This season calls for diversification of our economy through networking, collaboration and value addition. Businesses must adapt to economic variables, as they build internal mechanism to face challenges while leveraging support programmes for survival and prosperity.
“This administration remains more committed to providing platforms to support MSMEs, particularly through Lagos MSMEs Exclusive Trade Fair, support for members of BMOs to stage their fairs, providing increased market access, capacity building, soft loans through Lagos State Employment Trust Fund, (LSETF) and other support for MSMEs.
“The administration is also prepared to formulate policies and implement programmes that will promote the growth of the MSMEs and consolidate the state’s position as the industrial and commercial capital of the nation. This will lead to creation of more employment, eradication of poverty and promotion of sustainable economic development.
“As a responsible and responsive government, concerted efforts have been made to resolve various issues confronting businesses in the state, and we are still working on others. We have continued to improve the state’s security architecture, continuous formulation of enterprise-friendly policies and development of infrastructure that will collectively foster a positive business environment. These would enhance the competiveness and productivity of the creative and productive private enterprises, as well as sustain an innovation-driven economy.
“I assure you that the government will continue to be your partner in progress towards ensuring a conducive business environment for investments and investors to thrive. The Sanwo-Olu administration remains committed to engaging the Organised Private Sector and other stakeholders towards making the environment conducive for the implementation of policies, programmes and projects as they impact business prosperity in the state.”