•As free entry boosts sales
By Merit Ibe, [email protected]
The Lagos Chamber of Commerce and Industry (LCCI) has disclosed that about 3,500 exhibitors are on ground to showcase their products and services at the 37th edition of the Lagos International Trade fair which began in Lagos last Friday.
Chairman, Trade Promotion Board of the Chamber, Leye Kupoluyi, who made the disclosure, noted that a number of indigenous companies and others from West African countries make up the number of exhibitors on ground.
“Countries like India, Denmark, Japanese companies, Cameroon, South Sudan, Ivory Coast came with a number of companies.”
On the attendance, the chairman said it improved this year compared to last three to four years, going by the record from the Chamber’s access control.
Kupoluyi also disclosed that the free gate pass to the fair, which is first of its kind, gave the opportunity for increased number of people gaining entry and making more purchase.
‘‘The attendance improved compared to last year. The free entry through out the fair will surely increase sales tremendously.”
He lamented the cost of running the fair, saying the “cost of running the fair is quite high. The chamber is bearing the brunt.
“No matter the situation, we have been steadfast and consistent in organising the Lagos fair, considering the cost of diesel that is skyrocketing.
But because we have a mandate to run the fair, we have never reneged.
“We did it during Ebola, COVID -19 and now the economic downturn; we are still pushing for the sake of the mandate we have.
Most of the foreign exhibitors have made deals in millions of dollars in this fair.
They have confirmed importation and exportation of goods. There have been deals in millions of dollars this period of the fair.”
Kupoluyi also noted that the fair was not in isolation of what is happening in the economy as the purchasing power of citizens has been affected due to the economic hardship.
“The trade fair is not in isolation from what is happening in the world and the nation. It’s a concern that the purchasing power of our citizens has drastically gone down. Looking at the economic downturn, the chamber decided to share in the pain of Nigerians, thereby making entry into the fair free for more people to gain access.
And for our exhibitors, the payment remains the same in the last four years.
We have a responsibility to the business community. So the free entry has increased the traffic of buyers at the fair.
“Most of our exhibitors are thankful to the chamber for bringing them here, they say the experience is better.”
He said the B2B engagement was ongoing; “the fair is connecting businesses both physically and online.
“Nigeria is the best place to be in Africa.
It’s the best place to do business in terms of investment and opportunities. Nigeria is a good market in terms of population and because of the resilience of the citizens despite the state of the environment.”
He encouraged more businesses to key into what is happening at the fair, adding that Nigeria is still the best destination for business.