The Governor of Lagos State, Babajide Sanwo-Olu, says the state aims to lead Africa’s economy through tourism. Based on purchasing power parity, Lagos ranks second with a Gross Domestic Product (GDP) of $259 billion, trailing Cairo, Egypt.
Speaking through his Special Adviser on Tourism, Arts and Culture, Mr. Idris Aregbe, Sanwo-Olu expressed confidence in Lagos’s potential. He highlighted efforts to empower Micro, Small and Medium Enterprises (MSMEs) and foster a thriving business environment.
Lagos State Governor, Babajide Sanwo-Olu
As reported by the Sun news, Aregbe spoke at the second Lagos Tourism NBC Trade Fair, held at the Federal Palace Hotel, Victoria Island, from Friday, 11 April, to Sunday, 13 April. The event, a partnership between the Lagos State Ministry of Tourism, Arts and Culture and Naija Brand Chick (NBC), supports small-scale businesses, especially women and youth entrepreneurs.
Over 200 vendors and 77,000 attendees joined the fair, creating connections between businesses and customers.
“Lagos offers an ideal landscape for business growth, and this fair proves that with the right support, dreams can be realised,” Aregbe said.
“This event is not just about buying and selling, it’s also about leveraging entertainment to boost visibility. We aim to keep pushing Lagos’s GDP upward for the benefit of all residents.”
Mr Olanrewaju Bajulaiye, the Ministry’s Permanent Secretary, noted the fair’s blend of commerce and entertainment. He praised the “Sanwo-Naira” transaction system and projected ₦5 billion in revenue over three days.
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“This initiative shines a spotlight on small business owners, many of whom have travelled from other states to be part of this platform,” he said.
“Some vendors reported making in a day what usually takes them a month, which speaks volumes about the fair’s success and impact.”
Nelly Agbogu, CEO of Naija Brand Chick, hailed the fair’s growth and innovations. She thanked the Lagos State Government, noting vendors’ success reflects its commitment to entrepreneurship.
The Lagos Tourism NBC Trade Fair is a collaborative initiative between the Lagos State Government and Naija Brand Chick (NBC) aimed at promoting tourism, hospitality, and entrepreneurship in Lagos State. The event serves as a platform for showcasing the state’s cultural heritage, fostering economic growth, and supporting small and medium-sized enterprises (SMEs).
The first edition of the Lagos Tourism NBC Trade Fair was held in June 2024 at Whitestone Event Centre, Ikeja. It was designed to promote culture, tourism, and SMEs while offering attendees discounted goods and services. The fair targets significant economic milestones, such as generating over ₦5 billion in investments and sales. This ambitious goal underscores its role in driving local economic growth and fostering inclusivity.