Business News of Thursday, 3 April 2025

Source: www.legit.ng

Lagos state govt targets N5 billion sales at 2025 Tourism Fair with NaijaBrandChick

Lagos State Governor Babajide Sanwo-Olu Lagos State Governor Babajide Sanwo-Olu

As preparations build up towards the 2025 Lagos tourism fair, Lagos state government has announced a target of N5 billion in sales at the fair.

This is a key part of a broader strategy to promote entrepreneurship and job creation in Lagos State.

The 2025 Lagos Tourism Fair is being organized by the Lagos State Ministry of Tourism, Arts, and Culture, in collaboration with the Naija Brand Chick (NBC).

The three-day trade fair is expected to be held between April 11 and 13, 2025, and pull vendors and buyers across and beyond Nigeria.

Lagos Tourism Fair to attract 220 vendors and 75k attendees

Speaking about the Lagos Tourism Fair, Special Adviser to Governor Babajide Sanwo-Olu on Tourism, Arts, and Culture, Idris Aregbe, said it would play a key role in encouraging economic activities and facilitating trade and cultural exchange.

He emphasised that the government is trying to encourage the growth of small and medium-scale enterprises (SMEs) and create jobs, Channels News reports.

The government is also using the opportunity to promote Lagos state as the choice destination for business and tourism, and the fair will feature side attractions including celebrity appearances, cultural performances, dance showcases, giveaways, and raffle draws.

NBC collaborates to host Lagos Tourism Fair

Recall that the Lagos state government collaborated with the NBC to organize the first edition of this fair in 2024.

The 2025 edition is expected to be bigger and attract over 220 vendors and 75,000 attendees physically and virtually.

There would be discounted shopping opportunities, online platforms for remote shopping, and sustained interactions between the vendors and attendees even after the fair.

Founder of the Naija Brand Chick, Nelly Agbogu, noted that the fair is a testament to how small businesses can break through and thrive when given the right support.

Lagos state GDP rises to $259 billion

Keep in mind that Lagos state already holds the enviable spot as the second-largest economy in Africa, second only to Cairo, Egypt.

This position is a reflection of the volume of commercial activities that take place in the state.

The Dangote Petrochemical Refinery, which started operations in 2024, also pushed the state's Gross Domestic Product (GDP) ratio up to $259 billion.