2010 Lagos Fair Generated N1.5bn Business – LCCI
The 2010 edition of the Lagos International Trade Fair generated over N1.5 billion volume of business, according to the Lagos Chamber of Commerce and Industry (LCCI), the organisers of the fair.
Alhaji Remi Bello, chairman of trade promotion board of LCCI, who disclosed this last week in Lagos at the presentation of the prospectus for the 2011 fair, said the volume of business generated at the 2010 edition of the fair, was over $100million (N15 billion) within the 10 days that it lasted.
Bello disclosed that there were 1,000 direct and indirect exhibitors, over 300,000 visitors, 100 foreign companies from nine countries of the world and over 100 public sector participants, among others.
He said the delay in signing the 2011 budget into law will impact negatively on this year’s Lagos International Trade Fair because “it is when the budget is in place that there will be money in circulation and we will have more successful businesses in the country; so, if businesses are doing fine, they will be driven to attend and participate in the fair.”
He said the 2011 fair, scheduled to hold between November 4 and November 13, shall consolidate on the modest gains of last year.
Bello also noted that the theme of this year’s fair, “Increasing Competitiveness of Nigerian Products in the Global Market,” gave an indication of the chamber’s readiness to motivate public-private sector collaboration for the provision of an enabling business environment that would promote and encourage the Nigerian industrial sector to improve quality in order to meet the challenges of standardisation and competitiveness in the global market.
“The economy can only be good if we increase our competitiveness globally to increase demand and grow the economy,” he said adding that the fair was self-financing and that the budget could not be disclosed then until booking commenced.
Earlier, Chief Femi Deru, president of LCCI, said the prospectus of the fair had been presented early so that participants would have the clue about what to expect. “With the theme of the fair, we will focus on public-private partnership in order to meet international standards. The Nigeria players should, therefore, tackle the challenge of infrastructure to achieve the objective of the fair,” Deru said.
Alhaji Remi Bello, chairman of trade promotion board of LCCI, who disclosed this last week in Lagos at the presentation of the prospectus for the 2011 fair, said the volume of business generated at the 2010 edition of the fair, was over $100million (N15 billion) within the 10 days that it lasted.
Bello disclosed that there were 1,000 direct and indirect exhibitors, over 300,000 visitors, 100 foreign companies from nine countries of the world and over 100 public sector participants, among others.
He said the delay in signing the 2011 budget into law will impact negatively on this year’s Lagos International Trade Fair because “it is when the budget is in place that there will be money in circulation and we will have more successful businesses in the country; so, if businesses are doing fine, they will be driven to attend and participate in the fair.”
He said the 2011 fair, scheduled to hold between November 4 and November 13, shall consolidate on the modest gains of last year.
Bello also noted that the theme of this year’s fair, “Increasing Competitiveness of Nigerian Products in the Global Market,” gave an indication of the chamber’s readiness to motivate public-private sector collaboration for the provision of an enabling business environment that would promote and encourage the Nigerian industrial sector to improve quality in order to meet the challenges of standardisation and competitiveness in the global market.
“The economy can only be good if we increase our competitiveness globally to increase demand and grow the economy,” he said adding that the fair was self-financing and that the budget could not be disclosed then until booking commenced.
Earlier, Chief Femi Deru, president of LCCI, said the prospectus of the fair had been presented early so that participants would have the clue about what to expect. “With the theme of the fair, we will focus on public-private partnership in order to meet international standards. The Nigeria players should, therefore, tackle the challenge of infrastructure to achieve the objective of the fair,” Deru said.
