By Lukman Olabiyi
Lagos State Governor Babajide Sanwo-Olu aims to make Lagos Africa’s largest economy. Currently, Lagos ranks second with a Gross Domestic Product (GDP) of $259 billion, based on Purchasing Power Parity, 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.
Aregbe spoke at the second Lagos Tourism NBC Trade Fair, held at 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. Our goal is to keep pushing Lagos’s GDP upward for the benefit of all residents.”
Mr Olanrewaju Bajulaiye, Permanent Secretary of the Ministry, 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.
“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.
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