Sanwo-Olu Hails 72-Hour Shopping Festival as a Boost to Lagos Economy

• Governor Babajide Sanwo-Olu hailed the 72-hour Lagos Shopping Festival as a significant boost to the state’s festival economy and SMEs
• The inaugural event created numerous job opportunities and showcased local MSMEs, positioning Lagos alongside global cities like Dubai and Paris

Governor Babajide Sanwo-Olu of Lagos State has described the recently concluded 72-hour non-stop Lagos Shopping Festival (LSF) as a significant boost to the state’s growing festival economy.

The inaugural event at the Mobolaji Johnson Arena in Onikan offered round-the-clock shopping opportunities combined with music performances, creating a lively atmosphere for residents and visitors.

Highlighting its importance, Governor Sanwo-Olu said the festival strengthens Lagos’s festive activities while supporting small and medium-sized enterprises (SMEs) growth.

“This maiden edition focused on scaling and optimizing small businesses, connecting shoppers with Micro, Small, and Medium Enterprises (MSMEs),” he said.

“We are steadily building a festival economy for our state, and this 72-hour shopping festival is a strategic pillar supporting that vision, especially during the Yuletide season.”

The governor praised the organizers, Chain Reactions Africa Ltd, for their efforts in establishing this new addition to Lagos’ economic activities.

He noted that the event created numerous job opportunities in event management, design, stage setup, sound and lighting systems, crowd control, branding, and exhibition booth installations.

“Thousands of young people were gainfully engaged in the commercial value chain, demonstrating the festival’s economic impact on Lagos State,” Sanwo-Olu added.

Israel Opayemi, Managing Director of Chain Reactions Africa, thanked the state government for its support and pledged to make future editions even more impactful.

“The Lagos Shopping Festival has positioned Lagos alongside global cities like Dubai, Istanbul, London, and Paris. It provided a platform for local MSMEs, including fashion designers, to showcase their brands to a wider audience, with many vendors reporting excellent patronage,” Opayemi said.