The Lagos State Government (LASG) has reiterated its commitment to enhance the growth of Micro, Small and Medium Enterprises (MSMEs) through the provision of critical infrastructure that will create a conducive and thriving business environment.
Gov. Babajide Sanwo-Olu said this on Thursday in Lagos during the third Business Round Table of the Nigerian Association of Small and Medium Enterprises (NASME), Lagos State Chapter.
Sanwo-Olu was represented by Mrs Lola Akande, the Lagos Commissioner for Commerce, Industry and Cooperative at the event.
The theme of the event was: “Impact of technology on micro, small and medium businesses in Nigeria.”
Sanwo-Olu said that his administration would embark on infrastructural initiatives in such areas as : power, water, intermodal transportation and waste.
He said that these would help to make lives more comfortable for the citizens and enhance entrepreneur’s productive capacity.
“Technology development is a catalyst not only for the growth of MSMEs but also for the growth of national and global economies which are currently undergoing fundamental transformations with technology playing a key role,” he said.
The governor said that to retain relevance and enhance growth, MSMEs must develop the ability to accept new innovative approaches.
He added that they should also adopt technological methods that would boost performance and productivity.
Also, the Managing Director of Rack Centre, Dr Ayotunde Coker, said that technology had impacted positively on major economies globally and Nigeria should leverage on it to enhance her growth.
Coker urged entrepreneurs to change the narratives of Nigeria through innovative products and ideas that would drive the growth of their businesses.
Similarly, the former Managing Director of ntel, Mr Ernest Akinlola, said that technology would continue to change the business landscape.
He advised that MSMEs should position themselves appropriately to benefit from it.
The Chairman of the Lagos State Chapter of NASME, Mr Solomon Aderoju, said that the theme was chosen because MSMEs have become the game-changers for economic growth and the development of any country.
“We believe that we are in the era of technology to operate any business and MSMEs should not be left out.
“In fact, technology is needed to drive MSMEs’ operational, financial, human resources, logistics, market and risk management activities,” he said.
Aderoju said that MSMES as the engine of economic growth, creator of wealth and driver of industrialisation should also prepare for the dawn of the fourth industrial revolution.
“With the advent of African Continental Free Trade Agreement (AfCFTA) just signed by the President, our members will need to leverage on the latest technology to drive their businesses within and outside the African continent,” he said.
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