With an objective to promote value-addition in the country, the Lagos International Trade Fair (LITF) organised yearly by the Lagos Chamber of Commerce and Industry (LCCI), commenced today to showcase and attract investment opportunities to the nation’s non-oil sector from local and international investors.
Scheduled to hold from today till 15th of November, 2015, at the Tafawa Balewa Square, Lagos, the chamber pointed out the need to support the development of the non-oil sector in Nigeria especially now that the country urgently needs to diversify its economy.
Themed, “Enhancing value addition in the non-oil economy”, the chamber maintained that in today’s business world, development initiatives such as investment conference and entrepreneurship development programmes with special focus on the non-oil sector are critical to help the country get out of its present precarious situation.
The Chairman, Trade Promotion Board, LCCI, Dr. Michael Olawale Cole, had stressed the need to support the development of entrepreneurship as well as Micro, Small and Medium Enterprises (MSMEs) in Nigeria, noting the urgent need to create jobs and build an inclusive economy.
He added that many small business owners have capacity deficit in various areas of their enterprise, saying that this is one major reason for the failure of quite a number of these businesses between during their start-up year and the third year.
“One sure way of investing in the future of the economy is to increase the capacity of these entrepreneurs to create and manage businesses. This is what is done in all successful economies around the world,” he added.
He said as a result of this, the Lagos Chamber of Commerce and Industry (LCCI), in an attempt to further contribute to the growth of the MSMEs will be collaborating with Guaranty Trust Bank to host a 5-day development programme tagged the “LITF MSMEs development programme”.
Source: The Guardian Nigeria