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Buhari promises more support for MSMEs at Lagos trade fair



President Muhammadu Buhari Friday promised to sustain a business-friendly environment in the country.

Buhari gave the assurance when he declared open the 36th edition of the Lagos International Trade Fair organised by the Lagos Chambers of Commerce and Industry (LCCI).

The president, who was represented at the event by the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, said that his support for the business Industry would help to boost Micro, Small, and Medium Enterprises (MSMEs) in the country.

He said: “We all know the important role that trade plays in stimulating our economy and driving sustainable development. Through increased trade, our goals of job creation, GDP growth, increased foreign exchange earnings, and reduced insecurity are actualised.

“The development of export trade takes this a step further and helps our nation reach its economic diversification goals.

READ ALSO: BPE to concession Lagos Trade Fair Complex, Calabar Economic Zone, two others

“To do better, the public and private sectors must work together. The private sector can help boost the demand for Nigerian products by aggressively pursuing value addition and increasing the quality of exported goods originating from our country. This trade fair is a great opportunity to showcase Nigeria’s capacity to produce to international standards and also to export.

“The public sector will continue to drive investment into infrastructure development, encourage access to low-cost financing and provide fiscal incentives to companies wishing to manufacture products for sale.

“These incentives include three to five-year tax holidays for enterprises in what we deem pioneer industries; tax-free operations and capital allowances for agriculture, manufacturing, and engineering within our free trade zones.”

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