" /> As Trade Fairs arrive: where are the gains, what are the issues | Hallmarknews
Published On: Mon, Oct 23rd, 2017

As Trade Fairs arrive: where are the gains, what are the issues

By JOHNMARK UKOKO

In few weeks time, the country will host three major “international trade fairs”, in Lagos, Port Harcourt and Kano to promote trade and commerce in the various cities, as well as to boost the business fortunes of the local and international businessmen/ women who will grace the events.

While trade fairs in Europe and the United States of America are avenues for businesses in those climes to exhibit their latest products, machineries and services, as well as opportunity for visitors to such fairs to order for goods, latest inventions, books, machineries and latest brands about to make their ways to the market.

However, the reverse seems to be the case in Nigeria, as “trade fairs” are opportunity for local and international businessmen/ women who attend them to sell their products or services to the public perhaps at a discount as distributors and middlemen are eliminated.  Nigerian trade fairs are opportunities for traders, hawkers and pick pockets alike to make brisk business.

The local banks also show their presence in the fair by taking deposits from the traders and providing strong rooms for the exhibitors to safe-guard their precious properties for the duration of the fairs. Due to the huge volume of cash generated at the local fairs, nearly all the local banks usually have strong presence, which provide avenue to canvass for new customers.

While Kano 2017 trade fair is the 38th edition of its yearly ritual, the event would take place between 21st November and 3rd December; the fair has as it theme,“ Reinvigoration of industries, small and medium scale enterprises : a key for effective development of Nigeria economy”. The 51st Lagos international trade fair will be held between 3rd November and 12th November at Tafawa Balewa Square (TBS), Lagos.

The Port Harcourt international trade fair would take place in the mid December 2017 at the popular “Bori Park, Port Harcourt, Rivers State. The date was selected to enable Rivers and the people in that environs to do their Christmas shopping at the week-long event.

Nigerian businesses see trade fairs as time to sell off their old stocks directly to the end users, thereby eliminating middlemen / women, and by so doing would reduce the prices of the goods offered for sales at those fairs. It’s also an occasions to introduce latest products and services to the market.

The forthcoming three fairs are coming few months after Nigeria existed recession, which some respondents to BusinessHallmark inquiry say would witness more participation and visitors than the last two previous fairs held when the country was in deep recession.

On the purpose fairs, a former president of Lagos Chamber of Commerce and Industry (LCCI), Dr. Herbert Ajayi, said trade fairs are opportunity for local and international businessmen/ women to meet and exchange business information with a view of striking business deals.

He stressed that fairs are not supposed to be an avenue for selling and buying as we have it in Nigeria, adding that it’s an aberration for us to turn our trade fairs as occasions for selling and buying.

A businessman Mr. Maxwell Chidi , of Global Services International in a chat with Business Hallmark noted that in advanced economies of Europe and United States of America, fairs are held all year round, adding that firms have their permanent stands in the complexes where trade fairs are held. He added that since the firms have their permanent stands it makes it easy for them to showcase their latest inventions, products or brands to the visitors who grace such events.

“In most parts of Europe, fairs are held all year round. Businessmen have their permanent stands; this enables them to showcase their latest inventions or products for visitors to see.

“You don’t go to trade fairs abroad with intention to go there and buy or sell your products. You can only book for your orders which the company showcasing the items will ship to you in a later date, that will be weeks after the fairs,” he explained.

Chidi opined that the buying and selling culture of Nigerians is majorly responsible for our trade fairs being turn to a big market where trading takes place.

On purpose of fairs, he disclosed that it is an opportunity for industrialists,   businessmen and traders to introduce their latest wares to the public. He added that the makers of items like laptops, tablets, handsets, wrist watches, vehicles, information technology apparatus and a host of other items use trade fairs to introduce such items to the public.

A business analyst Mr. Ezekiel Abel told BusinessHallmark said that very little would be achieve from the forth coming three international trade fairs, because, according to him, the country just exited recession, which dealt a big blow on the economic fortunes of both corporate institutions and individuals.

Abel disclosed that many local businesses are yet to find their bearings as a result of almost two years of a depressed economy, which will prevent them from having the funds which firms would have used to attend the trade fairs as was the case in the past years.

“We’re just existing recession. How many people have money to buy the items they need now? Some companies will just attend to show their minimal presence, they wouldn’t be able to do much as there is no money in the economy.

“Those companies that formally attend with their retune of their officials, have their special days where they will splash their products on visitors that visit their stands, may not observe those tradition for this year or simply cut down on the budget they will use for the fairs. No doubt, the government institutions will attend the three fairs but will not be able to spend money like before.

“Many of us are just struggling to provide foods on our tables, so where is the money to use to buy the latest items foreign businessmen will bring to the various fairs. Some people will just go to the fairs to do the shopping for their children for the coming yuletide.

Business Hallmark efforts to speak with the Public Relations Manager of Lagos Chamber of Commerce and Industry (LCCI), Mr. Segun to ascertain the numbers of foreign countries, foreign firms, local firms and states who have confirmed participation was abortive, as he neither pick his calls nor respond to the Short Message (SMS), send to his mobile numbers. While SMS send to the Director General of Lagos Chamber of Commerce Mr. Muda Yusuf was not attended to before going to the press.

However, an official of the chamber said over 13 states and 29 various countries attended the 2016 edition, which attracted many local and foreign companies as well.

On when the chamber hopes to return to the permanent site at the Trade fair complex, he said the chamber is following the development concerning the issue of the government revocation of the complex to the former concessioner.

It would be recalled that apart from the above three fairs, Kaduna Chamber of Commerce and Industry and Enugu Chamber of Commerce and Industry also stage international fairs early in the year making it five international fairs held in the country with countless others domestic ones.

A respondent Mr. Adebola Anibaba in a chat with Business Hallmark disclosed that the organizers of Lagos International trade fair has not been able to address the issue of crowds, pick pockets, theft and  loud noise at the fair complex. Also, the chamber has not been able to provide a stable electric power supply, forcing   each exhibitor to provide their alternative private source of power, making the complex a huge noise arena.

Also the issue of public toilets, ticketing and entry and exit out of the trade fair grounds has become an issue every year, while the vehicles that visit the grounds yearly pose traffic menace to the officials of Lagos State Traffic Management Authority (LASTMA).

 

 

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Recent posts

  • PDP in fresh crisis over chairmanship zoning, threatens 2019

    By Obinna Ezugwu The December 9 Convention of the People’s Democratic Party (PDP) will be the most critical in its history; it is a convention that would, to a large extent, determine its fate and course for action ahead of the much awaited February 2019 general election and may also determine its chances of returning […]

  • Why South East should ignore President Buhari

    By UCHE CHRIS   President Buhari’s last week visit to the south east on APC campaign for Anambra governorship poll and his promise to give more appointments to the region is a clear and abundant proof that he is either a bad politician or he takes the Igbo for a fool. It is sad and […]

  • GTBank doubles stock value as investors go bullish

    By OKEY ONYENWEAKU GT Bank’s share price has doubled in the last one year, leading investors to grin satisfactorily as there gambit on the stock seems to have panned out. The stock’s price has risen from N24.00 in January 2017 to N43.00 as at November 17, 2017, creating a capital gains opportunity of 79.2 per […]

  • Moody’s rating exposes poor state of banks

      .           Experts predict more recapitalization next year FELIX OLOYEDE Deposit Money Banks (DMBs) in the country have been caught in the web of liquidity squeeze, capital adequacy challenge and the encumbrance of raising fresh funds  as Moody’s Investors Service (Moody’s) downgraded their long-term local currency deposit and issuer ratings. The credit rating agency lowered […]

  • Brain drain: Doctors, nurses’ exodus cripples Nigeria’s health sector

    By AYOOLA OLAOLUWA The mass emigration of health care professionals, especially doctors, pharmacists and nurses, is on the verge of crippling the nation’s health sector, Business Hallmark findings have revealed. Though, the mass exodus of these skilled health workers abroad for greener pasture has been on unabated over the years, it has now reached an […]

  • S&P rates UBA highly, affirms ‘B/B’ credit ratings

    FELIX OLOYEDE S&P Global Ratings has given United Bank for Africa (UBA) a B/B rating based on the rating agency’s interpretation of UBA’s competitive strength in the Nigerian banking market. The agency’s latest report released on Friday showed that the bank has benefited from a strong brand franchise in the corporate and retail segments of […]

  •  Nigeria: The disquieting nuisance of elitism

    By TESLIM SHITA-BEY   At the heart of Nigeria’s social and economic dysfunction is not just the usual suspects of tribe and religion but also, and quite disturbingly, the self-preening and self-adulation of Nigeria’s elite. The failure of the educated leaders of the country to bring about a collective sense of nationhood and build a […]

  • (Across the counter) University of Ibadan banking services waiting for relief

    Banks within university environment usually have a large turnout of customers. It wasn’t any different when our across the counter team visited some banks within the University of Ibadan environment to review the quality of service being rendered. Our criteria included bank professionalism, customer care efficiency, security consciousness, corporate environment and ATM efficiency. Here is […]

  • Time is ripe for rates cut, says Rewane as inflation slows further in Oct.

    FELIX OLOYEDE This is the appropriate time for the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to cut benchmark monetary rates after inflation rate slows down for the ninth consecutive time in October, said Mr Bismarck Rewane, Managing Director, Financial Derivatives. The National Bureau of Statistics on Tuesday released Consumer Price […]

  • ELAN National Lease Conference Focuses on Revamping Nigerian Economy

    FELIX OLOYEDE In furtherance of its objective of promoting the business of leasing in Nigeria, Equipment Leasing Association of Nigeria (ELAN) has concluded plans to organise the 15th Annual National Lease Conference with focus on revamping the Nigerian economy. The conference which is the biggest gathering of stakeholders in the leasing industry is expected to […]

  • Nigeria-centric restaurant, Labule, opens new outlet in Lagos

    Labule, Nigeria-centric restaurant, operated by an indigenous company, Roots Foods Limited, offering real Nigerian local delicacies in a unique environment that combines the setting of a modern quick service restaurant with that of an African setting of a local ‘buka’, has opened a new outlet on Admiralty Road in Lekki Phase 1, Lagos. The brand […]

  • Nigerian banks shine in Ghana

    By JOHNMARK UKOKO Nigerian banks have been credited with “revolutionizing “the banking sector in Ghana, due to the many innovations they brought to Ghana’s banking sector. The Ghana Deputy Minister of Trade and Investment Hon. Carlos Kingsley Ahenkorah said in Lagos that the innovation and transformation of the Ghana’s banking sector is credited to the […]

  • Ajimobi moves to save Oyo APC from disintegration

    By OLUSESAN LAOYE The seeming crisis in Oyo APC has now forced the Governor of the state, Abiola Ajimobi, to begin consultations with stakeholders to convinced members on why they must come together as a body to face the 2019 general elections, Although the internal crisis is yet to break open as the aggrieved party […]

  • YolaDisCo sale stalled as no potential buyers emerge

    By ADEBAYO OBAJEMU Two years after the core investors of the Yola Electricity Distribution Company, YolaDisCo, declared a force majeure owing to their inability to operate under the reign of terror unleased by Boko Haram, the Federal Government is yet to find any investor interested in operating the utility company, it has been learnt. In […]

  • Company Analysis: Much Ado about Seplat

      By TESLIM SHITA-BEY The oil and gas sector has had a bumpy since the beginning of 2017 with local oil major, Seplat, seeing its financials whipped raw by prior year liabilities despite rising revenues over the nine months (9M). The company in the last two years has moved from being distinctively bad to singularly […]

  • How to start a photography business

    By ZUBAIR DANIE While photography could be accounted for as a full blown course in any offering institution of learning for professionalism, the field equally provides a platform for individuals whose passion it is to project images as a form of livelihood. The socio-cultural aspect of Nigerians that play host of events like: wedding, naming, […]


Visit us on Google+