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More than 1,000 exhibitors from over 20 countries are targeting bigger markets and increased sales at the 40th Lagos International Trade Fair, as organisers introduced free entry to attract more buyers.
The 10-day fair, holding at Tafawa Balewa Square from November 6 to 15, is organised by the Lagos Chamber of Commerce and Industry (LCCI) under the theme, “Connecting Businesses, Creating Value”.
LCCI President, Dr Leye Kupoluyi, said free entry was introduced to ease the burden on Nigerians facing reduced purchasing power and attract more customers to exhibition stands.
He said the decision had increased visitor turnout, with exhibitors expressing satisfaction over improved business opportunities. Kupoluyi disclosed that foreign exhibitors had secured deals worth millions of dollars, involving imports and exports, while business-to-business meetings were ongoing.
He said the Africa Hall, supported by Afreximbank and ECOWAS, was promoting trade partnerships among African businesses and helping them explore the 1.4 billion-person market under the African Continental Free Trade Area (AfCFTA).
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He added that more than 100 Japanese exhibitors were participating through the Japan External Trade Organisation (JETRO).
However, Kupoluyi called for improved electricity supply, access to affordable finance, efficient transport and ports, security and stable government policies to reduce the cost of doing business.
He said the fair had also created jobs for local artisans, with millions of naira spent on constructing exhibition stands even before its opening.
The LCCI president said the chamber had continued to organise the fair despite rising operating costs, including the high cost of diesel.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, commended the chamber for sustaining the fair for 40 years, saying trade exhibitions should help businesses attract investment, increase production, export goods and build lasting commercial partnerships.
