24 May 2014

Nigeria: Exhibitors Show More Interest in Rebased Economy, Says LCCI

The recent rebasing of Nigeria's Gross Domestic Product (GDP), which makes Nigeria the largest economy in Africa, has generated increased interest in the Lagos International Trade Fair, the Lagos Chamber of Commerce and Industry (LCCI) has disclosed.

In a statement, Vice President of the Chamber and Chairman, Trade Promotion Board, organisers of the Fair, Dr. Michael Olawale-Cole said LCCI had been receiving requests for participation from both regular and new foreign exhibitors since the rebasing outcome was made public. The rebasing had put the country's Gross Domestic Product (GDP) at $510bn, the highest on the continent.

Olawale-Cole stated that the exhibitors expressed the desire to take advantage of the benefits offered by Africa's biggest economy, adding that they were eager to enter into business relationship with prospective local partners.

"This becomes particularly germane with the reinforcement of the new status of Nigeria by her classification by Ernst and Young as one of the top three economies in Africa to invest in," he affirmed.

He disclosed that everything was being put in place to ensure not only a successful outing but the best Fair ever. It was in furtherance of this that he led a delegation of the Trade Promotion Board officials to China recently. "The team held discussions with a world-renowned trade exhibition company, CMEC International Exhibition Company as well as officials of marquee tent manufacturers, Liri Tent in Zhuhai," the LCCI boss explained.

Other members of the delegation included the Chairman, Marketing, Publicity and Protocol, Mr. Kehinde Amao; Chairman, Technical Committee, Engineer Funmi Banjoko and Director, Membership and Trade Promotion, Mr. Dele Alimi.

Olawale-Cole stated that the LCCI decided to purchase its own marquee tents from China as part of efforts to scale up the quality of facilities at the Fair.

The LCCI chieftain disclosed that this year's Fair would still hold at the Tafawa Balewa Square from Friday 7th to Sunday 16th November with the theme: 'Promoting the Nigerian Economy as a Preferred Investment Destination'. He also gave assurance of adequate security arrangements for exhibitors and visitors at the Fair.

The Fair which is staged with the support and cooperation of the Federal and State Governments covers all aspects of business and economic activities in Nigeria. It offers a unique exposition for manufacturers, suppliers, buyers and users of a wide range of goods and services as well as opportunities for investment and trade promotion.

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