Trade fair will enhance economic growth says Gov Ambode.
Gov. Akinwunmi
Ambode of Lagos State says the 2017 Lagos International Trade Fair (
LITF ) will be an avenue for collaboration toward enhancing economic
growth.
Ambode, represented by Dr Idiat Adebule,
Deputy Governor of Lagos State, made the remark on Friday, at the
opening of the fair with the theme: “Promoting Industrialisation for
Economic Recovery and Sustainable Growth.”
The fair is an annual event organised by the Lagos Chamber of Commerce and Industry ( LCCI ).
Ambode noted that the previous edition
of the event was held amid economic recession, but now, the economy had
not only exited recession, but had received positive global rating.
According to him, the rating has shown an improvement in the country’s Ease of Doing Business ranking of the World Bank.
“This positive development is the
cumulative effect of policies and reforms being implemented diligently
to ensure a conducive environment for business growth and development,”
he said.
The governor said the large turnout of
participants, networking events and volume of transactions recorded
yearly are testaments of the trade fair’s relevance in boosting national
economic growth and recovery plans.
In her comments, Mrs Nike Akande,
President of LCCI, said that the theme of the fair was to underscore the
critical importance of industrialisation in the nation’s economic
recovery and diversification process.
She said that it would also draw
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.
“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 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.
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