Lagos govt committed to economic diversification -Ambode

The Lagos state chapter of the Nigerian Association of Small Scale Industrialists (NASSI) in partnership with the state’s Ministry of Commerce, Industry and Co-operatives, and the Ministry of Wealth Creation and Employment, have declared open the first edition of the Micro, Small and Medium Enterprise (MSME) trade fair on Monday at the Adeyemi Bero Auditorium of the Lagos state secretariat.

The trade fair, with the theme: ‘Promoting Made in Nigeria Products Towards Self-reliance’, is part of the moves by the Lagos state government and NASSI to promote locally-made goods, local manufacturers, and save the Naira from a free fall through vigorous campaigns to patronize made-in-Nigeria goods.

Speaking at the opening ceremony of the 6-day trade fair, Lagos state governor, Mr. Akinwunmi Ambode, said Nigeria’s economy is really diversified but it is tilted towards oil, and that explains why we are seen as an oil-dependent nation.

Ambode, who was represented by the Commissioner of Commerce, Industries and Cooperative, says a demographic assessment has been conducted, and findings show that 60% of Lagosians are youths, and that explains why an Employment Trust Fund, which is mainly for the youths, was created by the Lagos state government. He added that, “We have been dependent on oil for our FOREX earning capability, Lagos state is intervening to wake up other sectors to compete favourably.’’

Also speaking at the event, the Executive Secretary of Employment Trust Fund, Mr. Akin Oyebode, commended NASSI for being a wonderful and valuable partner. He says ETF provides capital to people who would ordinarily not be able to access capital from commercial and microfinance bank.

On how beneficiaries are selected, Oyebode said, “The process of choosing beneficiaries is very transparent. The applications are treated by independent consultants. It is reviewed by the relevant board. And, after that we publish a list of beneficiaries. We have very little say in what comes back to us. For every set of successful beneficiaries, we publish the names. If you go our website today, you will see the list of 1400 people who have benefitted from the scheme.’’