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THE curtains were finally drawn on this year’s edition of the annual Lagos International Trade Fair (LITF) over the weekend, after 10 days of marketing activities at the popular Tafawa Balewa Square, Lagos.
Interestingly, despite the myriad of challenges facing both individual and corporate economies, the fair, usually organised by the Lagos Chamber of Commerce and Industry (LCCI), never failed to throw up the usual excitements, fun and pains.
For instance, the determination to make the best out of the opportunities provided by the annual exhibition was palpable among some brand custodians, and business owners at the fair immediately the event was flagged off.
There were many others, however, who never shared in such optimism. For this class of people, the present challenges facing individuals and businesses around the globe, would, without doubt, take their toll on the 10-day event.
For instance, at the Bhojsons’ stand, visited by Brands & Marketing, one of the company’s sales representatives, simply identified as Ademola, believes the inclement economic climate in Nigeria had made the products of the company, one of which is the tricycle, popularly known as Keke Marwa, go beyond the reach of the average Nigerian they are meant for.
“A unit of the tricycle here goes for over N1.3 million just because of the current value of the Naira. How does one explain that something that used to go for between N350,000 and N400,000 in the past, has suddenly become over N1.3 million in recent times?” he asked rhetorically.
Interestingly, those were initial fears, which later turned out to be largely unfounded as the fair progressed.
The closing days of the fair were not without their memorable moments. For instance, for some brands, especially the local ones, it was an opportunity for them to test the waters against the foreign brands and see how far and well they can hold their own against them, especially as the African Continental Free Trade Area (AfCFTA) deal becomes fully operational.
“This is a very good opportunity for the brands, especially the local ones, to test the waters. This is an international trade fair and the fact remains that how well they hold themselves would go a long way in determining whether local brands stand any chance against their foreign counterparts,” argued Mr Samson Ayomiwa, an entrepreneur and a regular patron of the fair.
Same excitement was shared by Agnes Fiwasaye, a customer at one of the boutiques stands on the eighth day of the fair. Fiwasaye said that she usually looked forward to the annual fair because of the opportunity it offered her to get products at highly discounted prices.
Perhaps of note, too, was the clement weather enjoyed by the participants almost throughout the period of the fair. Not a few had expressed their fear of the possibility of the deluge witnessed within the metropolis prior to the fair disrupting the event.
But the weather was clement, most of the days, giving brands, businesses and customers at the fair uninhibited access to and within the venue of the fair.
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The difficult economic times however, remained a major pain some had to live with throughout the period of the fair. Some regular patrons of the fair complained to Brands & Marketing that low purchasing power actually denied them the opportunities of playing actively at the fair.
“For instance, I just came for sight-seeing. I can’t really buy as I used to in the past due to paucity of funds,” said Mrs Joke Akolade, one of the regular faces at the fair.
The organisers, the Lagos Chamber of Commerce and Industry (LCCI), assured they would continue to enhance the clout of the event.
The Chamber’s President, Asiwaju Michael Olawale-Cole, noted that the fair had continued to fulfil one of the purposes for which it was set up: providing an opportunity for networking for exhibitionists and consumers in different market segments.
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