At the Lagos International Trade Fair (LITF) 2023 Edition, which was held on Friday in Lagos and hosted by the Lagos Chamber of Commerce and Industry (LCCI), Tinubu made this statement.
"Connecting Businesses, Creating Value" is the event's theme.
Mrs. Lucia Shittu, Chief Executive Officer of the Tafawa Balewa Square Management Board (TBSMB), was in his place.
Tinubu emphasized that the government must assist MSMEs since they are the backbone of the Nigerian economy and are critically important to the country's economic growth.
It is our responsibility to give children the resources and assistance they require in order for them to thrive.
"We will keep developing policies, financing opportunities, and capacity-building programs that will enable these businesses to achieve unprecedented success," he declared.
However, Tinubu emphasized that MSMEs must embrace innovation and technology in order to keep up with changing customer needs.
He claimed that by doing this, Nigerian MSMEs would be in a stronger position to lead and innovate, not just as players in the international market, but also as examples for others to follow.
He remarked, "Let us move forward with tenacity, fortitude, and a common vision for a Nigeria that stands tall on the global stage."
The topic of the event, according to Lagos Governor Mr. Babajide Sanwo-olu, highlighted the value of business networking, as he is well aware that no company can thrive on its own.
Sanwo-olu was represented by Mrs. Folashade Ambrose-Medem, Commissioner of the Lagos State Ministry of Commerce, Industry, and Cooperative.
According to him, the fair offered them an additional expansive 10-day window to exhibit their goods and services, get excellent exposure, and make new business connections.
He claims that because the platform will further develop the investment ecosystems to facilitate more lucrative investment opportunities in Nigeria, it is strategic, revolutionary, and relevant.
The governor pointed out that although some could view the number of young people as a management difficulty, he saw immense potential that should be realized in the state and the country as a whole.
He claimed that in order to draw in possible investors, a new strategy was required, both in Lagos and nationwide.
"I want to reassure you that the Lagos State Government will remain your partner in efforts to create an atmosphere that is favorable to business and encourages investment in the state.
We are well aware that overcoming the obstacles faced by businesses will be largely dependent on our political will as we work to transform Lagos, our beloved state, from Nigeria's largest commercial city to a mega or smart city operating on 21st-century economic dynamics.
"We view the problems as excellent chances for additional investment, and our government is prepared to collaborate with willing investors in addition to diligently trying to alter public perceptions.
He declared, "This will contribute to the infrastructure's expansion for the benefit of our state, country, and businesses in particular."
According to Dr. Michael Olawale-Cole, President of the LCCI, the Fair has developed into yet another important turning point in the economic history of Nigeria and the African continent.
Lagos, the fifth-largest economy in Africa, is claimed by Olawale-Cole to be at another pivotal point in the history of Nigeria's economy. It faces significant obstacles but also has a great deal of potential for expansion and success.
According to him, the year's theme, "Navigating Economic Challenges," highlighted the will of the Nigerian business sector to get over the numerous obstacles to growth, survival, and existence.
Like many other economies, Nigeria's has been harmed by geopolitical unrest and shocks to the world economy.
It challenges us to face the challenges we confront while motivating us to look for answers, seize fresh chances, and create creative plans of action to promote economic expansion.
Despite these obstacles, we are here today to demonstrate the tenacity of our people and our undying dedication to advancement.
"As Nigeria and Lagos State diligently strive to diversify their economies, lessen their reliance on oil, and clear the path for inclusive progress, we stand on the cusp of transformation.
"As we consider the obstacles and concentrate on the enormous opportunities that lie ahead, let us rise to the occasion, harness the power of innovation, and collaborate to create a path to prosperity," he remarked.