Lagos State Governor, Mr. Babajide Sanwo-Olu, has reiterated his administration’s ambition to position Lagos as the leading economy in Africa.
Currently ranked second on the continent with a Gross Domestic Product (GDP) of $259 billion (Purchasing Power Parity), Lagos follows Cairo, Egypt. However, Governor Sanwo-Olu remains confident that Lagos has the potential to surpass Cairo and take the top spot.
Speaking through his Special Adviser on Tourism, Arts and Culture, Mr. Idris Aregbe, the governor emphasized his commitment to supporting Micro, Small and Medium Enterprises (MSMEs) and building a vibrant, inclusive business environment.
Sanwo-Olu’s vision was highlighted during the second edition of the Lagos Tourism NBC Trade Fair, held from April 11 to 13 at the Federal Palace Hotel, Victoria Island. The event, organized by the Lagos State Ministry of Tourism, Arts and Culture in collaboration with Naija Brand Chick (NBC), was aimed at promoting and empowering small-scale businesses, especially women and youth-led enterprises.
According to Aregbe, the fair attracted over 200 vendors and more than 77,000 attendees. He noted that the event not only strengthened the connection between vendors and customers but also created opportunities for investors and job creation in Lagos.
“Lagos offers the ideal environment for business growth, and this fair is a testament that with the right support, dreams can be realised,” Aregbe said. “We’re proud to host another impactful event that uplifts SMEs and transforms lives, thanks to Governor Sanwo-Olu’s unwavering support for small businesses.”
He added that the fair also fused commerce with entertainment to enhance brand visibility, tapping into Lagos’s large market to drive economic expansion.
Highlighting the fair’s potential for economic impact, Permanent Secretary of the Ministry, Mr. Olanrewaju Bajulaiye, described the event as a blend of commerce and entertainment. He also introduced the innovative “Sanwo-Naira” as the official means of exchange at the fair, with an estimated ₦5 billion in revenue expected over the three-day event.
“Our goal is to put small business owners on the map, boosting their sales and contributing to the wider growth of Lagos and the Nigerian economy,” Bajulaiye said. “Some vendors reported making a month’s worth of sales in just one day.”
NBC CEO Nelly Agbogu expressed her excitement at the success of this year’s edition, noting the positive feedback and increased sales reported by vendors. She praised the Lagos State Government for its strategic support.
“Lagos is fertile ground for business success. This event proves that with the right partnerships, SMEs can thrive and lives can be changed,” Agbogu said.
Vendors echoed similar sentiments. Realtor Mrs. Anthonia Boluwaji-Abayomi praised the initiative, saying it provided invaluable networking and sales opportunities for entrepreneurs.
Adding to the excitement, the trade fair featured performances by top entertainers, including Fuji icon K1 De Ultimate (King Wasiu Ayinde), as well as cultural displays by the Lagos State Council for Arts and Culture.
The event also drew participation from members of the Lagos State Executive Council, Nollywood stars, brand ambassadors, and enthusiastic shoppers.
