The Federal Government on Tuesday announced plans to host the Lagos International Trade Fair after a 14-year break.
The Minister of Industry, Trade, and Investment, Dr. Doris Anite, said this while noting that the Lagos International Trade Fair Complex recorded a revenue of 430 million naira in the first quarter of 2024 as against the 17 million naira it generated in 2023.
She disclosed this at the ongoing ministerial sectoral update for the Tinubu-led administration in Abuja.
The event was last held in 2010, and its return aims to re-establish Nigeria’s status as West Africa’s premier trading destination as well as boost economic activities across various sectors.
“The objective is to reinforce Nigeria’s status as the premier trading destination in West Africa, facilitating expanded market access for domestic producers, suppliers, farmers, and traders, thus igniting unprecedented economic activity spanning tourism, trade, manufacturing, and employment opportunities,” Dr. Anite stated.
The minister said the Fair is expected to provide a platform for Nigerian businesses to showcase their products and services, attract international investors, and stimulate economic growth.
The fair’s revival is anticipated to bring substantial benefits to the local economy, including increased tourism, enhanced trade opportunities, and job creation.
The minister further said the fair will serve as a catalyst for economic development, promoting the country’s rich diversity and potential in various industries.
“With this massive increase and with the increasing face lift, the ministry will be hosting the Lagos International Trade Fair, we are now set to host a popular Lagos International trade fair. This trade fair was last hosted 14 years ago in 2010 and this trade fair will reestablish our country as a market hub of West Africa.” She said
Alleluia is the Assistant Editor and Content Writer at LagosPost.ng. She is a prolific writer and editor, she has written features and news stories on Lifestyle, Sports, Business, Politics and B2B marketing. She is also an event coordinator, host and social media content creator.
