2 weeks ago
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The Lagos Chamber of Commerce and Industry has stated it is partnering with a Chinese trade delegation to secure deals worth millions of dollars to drive Nigeria’s industrialisation and support its struggling economy.
The Director-General of the LCCI, Dr Chinyere Almona, disclosed in a statement on Monday that the Chinese trade partners would participate in the 2024 Lagos International Trade Fair, scheduled from November 5 to November 7 in Lagos.
“We extend our appreciation to our Chinese trade partners for their invaluable support of Nigeria’s industrialisation efforts,” Almona remarked.
She emphasised that partnerships with countries like China, which lead in sectors such as machinery production, automotive manufacturing, and energy management, are essential to boosting Nigeria’s local industries and fostering sustainable development.
The Chinese delegation, hosted at the dedicated China Halls 1 and 2, is expected to engage directly with Nigerian entrepreneurs, business leaders, and industry stakeholders, according to the chamber.
Almona added the collaboration aims to forge lucrative business relationships that will not only enhance local production but also bring new investment into critical Nigerian industries.
The LCCI noted the China Halls would feature four specialized fairs to connect Nigerian businesses with Chinese innovations and products tailored to Nigeria’s economic needs.
The West Africa Hardware, Tools, and Mechatronics Fair will focus on solutions for key sectors like food processing, transportation, energy, and construction, it added.
“This fair brings products essential to Nigeria’s core industries,” Almona asserted, as she explained how the fair offers Nigerian companies access to tools and hardware that can improve efficiency and scale their operations.
Further, the LCCI noted its International Automotive Parts, Equipment, and Services Fair is set to support the country’s growing automotive industry.
The chamber stated the fair will showcase a range of automotive parts, equipment, and services to help local businesses strengthen their automotive value chain.
“These products are instrumental in advancing local automotive capabilities and promoting self-sufficiency,” Almona added.
Further, the LCCI noted the International Houseware and Gift Fair will introduce businesses to modern consumer goods.
This fair offers “an avenue to explore high-quality products that appeal to the modern consumer,” the LCCI DG declared.
The Nigeria International Textile Industry Fair will focus on the textile and garment industry, a sector known for its cultural and economic significance.
The LCCI DG noted its expectations for the fair to facilitate partnerships in textiles, machinery, and sustainable practices to boost local garment production, saying “This fair provides opportunities for Nigerian businesses to gain access to new textiles and practices.”
Almona highlighted that the country’s trade sector has shown resilience despite harsh economic conditions, outperforming many other sectors recently.
However, she called for streamlined trade procedures to encourage more international partnerships, adding, “We encourage all stakeholders to take full advantage of the opportunities at these fairs to foster lasting, impactful partnerships.”
