2024 Lagos International trade fair to host 3,500 exhibitors – LCCI
15 foreign manufacturers are among
The President, Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa, has said that over 3, 500 manufacturers are participating in the ongoing, 38th edition of Lagos International Trade fair exhibition.
- Idahosa said this in an interview with the News Agency of Nigeria (NAN) on the sideline of the LESVIV GLOBAL SOLUTIONS Special Day presentation at the trade fair.
He said that 15 foreign manufacturers where among the 3,500 exhibitors at the trade fair, signifying Nigeria’s collaboration with foreign counterparts.
“A lot of exhibitors have come here to demonstrate and enlighten visitors of their products and we are happy about the presentation so far.
“Our visitors have been gaining one or two things from both local and foreign exhibitors.
“The unique things about this year trade fair is that, we started presentations on the opening day of the exhibition, which shows a great improvement from the previous ones,”Idahosa said.
He said that the generic theme for the Fair, “Connecting Businesses, Creating Value.” highlighted the tremendous opportunity to strengthening bonds.
“It will also help in exchanging ideas, and innovating solutions that can drive sustainable economic growth and expand collective potential in Nigeria and beyond.
“We celebrate LESVIV GLOBAL SOLUTIONS, a shining example of resilience, innovation, and commitment to excellence.
”LESVIV has become a key player in Nigeria’s manufacturing sector, significantly contributing to the consumer goods and household products sub-sector,” he said.
He said that the focus on creating quality, affordable, and accessible products had made LESVIV a household name.
”Moreover, your company’s commitment to driving local manufacturing capabilities has made it an invaluable contributor to Nigeria’s industrialization,” Idahosa said.
According to recent statistics from the National Bureau of Statistics (NBS), the manufacturing sector’s contribution to Nominal GDP in the second quarter of 2024 was 12.68 per cent.
This was lower than the figure recorded in the corresponding period of 2023 at 14.55 per cent.
Idahosa said that the GDP recorded in second quarter of 2024 was also lower than the first quarter of 2024 at 14.79 per cent.
Consumer goods and household products sub-sector being one of the significant drivers of this performance.
He said that while the sector had showed resilience and growth potential, it also faced challenges such as high production costs, supply chain disruptions, and rising inflation.
“The household products sub-sector saw moderate growth of around 5.4 per cent in Q1 and Q2 of 2024. This performance can be attributed to increasing urbanisation and a rising middle class, driving demand for consumer goods and household products.
“Companies like LESVIV GLOBAL SOLUTIONS have played a critical role in meeting this demand, maintaining consistent product quality, and leveraging innovative approaches to reach a broader customer base,” he said.
He said that manufacturing companies had managed to grow their market share by focusing on affordability, leveraging local production, and reducing dependence on imported raw materials.
“Domestic firms like LESVIV have minimised foreign exchange exposure by investing in local manufacturing, generating employment opportunities, and bolstering the country’s industrial base,” he said.
Our imported fuel will be cheaper, PETROAN counters Dangote Refinery
He urged Nigerians to patronise exhibitors in trade fair to enable them get quality goods at affordable prices.
The Chief Executive Officer, LESVIV Ltd., Mr Nelson Obinna, said that the company was established across Africa, basically on production of toilet innovative and clean hygiene.
He said that their products was called safe toilets roll with hygiene.
“When you buy the toilet today, it is one time installation cost and you can get the average production with less than N120,000 at the trade fair and will in install in your place and SA no to toilet roll.
“The installation is one time cost that will last for more than 10- year with warranty,”Obinna said.
In his closing remark, the Chairman Trade Promotion Board of LCCI, Prince Abimbola Olashore, expressed gratitude to the leadership of LESVIV Global for sponsoring a special day at the 2024 Lagos International Trade Fair.
Olashore commended the management for their passion in the participation of LESVIV Global at this fair adding that the participation would translate into meaningful enlightenment.
He said that the exhibition would enable enhance the range of household and consumer goods to be more aware that LESVIV Global offers to transform Nigeria’s consumer goods industry to enhance lives.
“We are optimistic about the crucial roles played by businesses like LESVIV Global in supporting the government’s commitment to boosting consumer choices, job creation and supporting the economy through trade and manufacturing activities.
“As we continue to count on your cooperation, I am confident that the benefits of your participation will be remarkable, tangible, and long-lasting. Olashore said.
