2017 international trade fair to enhance economic growth, Ambode says as it begins in Lagos

Akinwunmi Ambode, Governor of Lagos State said the 2017 Lagos International Trade Fair (LITF) will be an avenue for collaboration toward enhancing economic growth.

According to NAN’s report, the governor, represented by his deputy, Idiat Adebule made the remark Friday, at the opening of the fair with the themed “Promoting Industrialisation for Economic Recovery and Sustainable Growth.”

The fair, an annual event organised by the Lagos Chamber of Commerce and Industry (LCCI) had its previous edition amid the country’s economic recession.

The governor said the large turnout of participants, networking events and volume of transactions recorded yearly in the country are testaments of the trade fair’s relevance in boosting national economic growth and recovery plans.

In her comments, Nike Akande, President of LCCI, said the theme was to underscore the critical importance of industrialisation in the nation’s economic recovery and diversification process, drawing attention to the imperative of creating an enabling environment to attract new investments, grow existing ones and the necessity to build a sustainable economy.

“There is perhaps no better time to do this than now. This is the time to focus more on the non-oil sector for diversification.

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“The non-oil economy is more inclusive and integrated. It is also more growth-oriented, characterised by high economic linkages, stable, and above all, more sustainable,” she said.

According to her, appreciating the dynamics of the economy will enable the government to construct policies that will ensure sustainable economic development.

Akande said that government’s priority should be to fix impediments to productivity and competitiveness in the economy.

She said that tackling the constraints would encourage domestic investment, attract foreign capital and facilitate the realisation of the objectives of the Economic Recovery and Growth Plan (ERGP) of the government.

Chief Alaba Lawson, President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), urged the government to implement infrastructural development measures, toward improving all sectors of the economy.

She said that doing this would make the country take its rightful position as not only one of the largest economies in Africa but also the most industrialised one.

The 31st edition of the Lagos International Trade Fair ends on Nov. 12.