The award event which was initiated since 2014 in Ojokoro local government area of Lagos yesterday marked its fourth year of inauguration has since its commencement being recognizing youths and young Lagosians who have done exceptionally well in their businesses and various entrepreneurial endeavours.
Giving his welcome charge at the event which saw a good attendance of several business owners, civil servants and entrepreneurs, the Convener, Ashafat Saheed noted that he his very happy to witness another edition of the Lagos young entrepreneurs award and summit.
He noted that since the commencement of the award ceremony they have been given to complementing the efforts of the Lagos state government by financing few entrepreneurs they can empower and also awarded each of those that have done excellently in their businesses.
“We are complimenting the effort of the Lagos state government in making it the third largest economy in Africa through activating small businesses and encouraging young Lagosians to take advantage of the structure, policy and population that supports MSME growth and development. Ashafat Saheed noted.
The event compere, Mr Peace Obichere, who is the Creative director of High school standard Magazine and a co-organizer of the event, in a chat with DAILYFAMILY.NG noted that the event’s major objective is to celebrate and award young entrepreneurs who had excelled and have been outstanding in their industries and endeavour.
He further noted that the event started in the year 2014 at the local government level but had grown bigger to be brought to the state level.
Also speaking at the event, Head Domestic Operations services, Heritage Bank, in a discussion with entrepreneurs at the event noted that Lagos generate the highest internal revenue in all the states in the country.
“Lagos is already a mega city of about 21 million people. Although the last official census estimate put it at a range well below 10 million people with a strong internal band. The GDP of Lagos state alone is already bigger than the GDP of Kenya, and bigger than the combined GDP of 25 other African countries.
Further speaking to entrepreneurs about the beauty of doing business in Lagos, Durotoye further listed Lagos economical contributions to the economy of Nigeria.
“Among the federated states of Nigeria, Lagos contributes 25% of the national GDP AND 32% of non-oil national GDP.
“Lagos account for 65% of Nigeria tourism, 50% of national port revenue over 70% of international air traffic and 50% of national energy consumption.
He further added that in the forth coming years, Lagos is poised to become the third mega city in the world, following after cities like Tokyo and Mumbai.
“That is the solid foundation to build on”
Finally stressing the need for SMSEs to do business in Nigeria, he summated with the fact that Lagos is fast becoming a preferred destination for investors in Africa.
Durotoye noted that the aggregate of foreign direct investment that has been attracted to Lagos in the past 18-months is more than what has been achieved in the last ten years.
In the high point of the event, several entrepreneurs, were welcomed to the podium to receive their award for excellence in their entrepreneurial activities.