The Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI) has partnered with Agbado/Oke-Odo LCDA to drive grassroots economic development, promote financial independence, and expand opportunities for residents, particularly Micro, Small and Medium Enterprises (MSMEs).
The partnership, established during a strategic meeting at the Ministry’s Conference Room in Alausa, will bring enterprise development programmes, cooperative initiatives, investment promotion, skills acquisition, business support services, and improved market access directly to the grassroots.
Speaking at the meeting, the Permanent Secretary, Mr. Babatunde Onigbanjo, representing the Honourable Commissioner, Mrs. Folashade Bada Ambrose-Medebem, described the collaboration as timely and strategic, stressing the Ministry’s commitment to delivering measurable economic benefits and creating sustainable livelihoods.
Representing the Executive Chairman of Agbado/Oke-Odo LCDA, Hon. Henry Akinbobola, Special Adviser on Commerce and Investment, said the Council aims to connect residents and MSMEs with the Ministry’s commerce, cooperatives, trade, and investment programmes. He also revealed plans to organise exclusive trade fairs, business seminars, strengthen market associations, and leverage one of Lagos’ largest markets to stimulate local economic growth.
A major outcome of the engagement was the decision to formalise the collaboration through a Memorandum of Understanding (MoU) backed by a clear implementation plan to ensure effective execution and serve as a model for future partnerships with other LCDAs.
Departmental directors highlighted several opportunities available to residents. The Cooperative Department encouraged the establishment of cooperative societies to access the LASMECO programme, which offers single-digit loans to cooperative-based businesses. The Commerce Department showcased opportunities through international and exclusive trade fairs and the Eko Fashion Hub, where fashion entrepreneurs receive affordable training and access to modern production facilities. The Investment Department reaffirmed its commitment to attracting and retaining investments through investor support, business advisory, and aftercare services.
Participants also agreed to strengthen collaboration with government agencies, financial institutions, and the private sector to mobilise financial and technical support for grassroots economic development.
Closing the meeting, the Director of Agribusiness Support, Mrs. Muminat Osiefa-Atitebi, said the partnership is focused on creating jobs, reducing poverty, and driving sustainable economic growth across Lagos State through stronger institutional partnerships and expanded opportunities for residents.