The Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI) has strengthened its partnership with Agbado/Oke-Odo Local Council Development Area (LCDA) to promote grassroots economic development, support Micro, Small and Medium Enterprises (MSMEs) and enhance financial independence for residents.
Eko Hot News reports that the partnership was sealed during a high-level meeting at the Ministry’s Conference Room in Alausa, Ikeja, where both parties agreed to expand economic opportunities and deliver business support programmes at the grassroots.
The collaboration is expected to bring the Ministry’s enterprise development, cooperative growth and investment promotion initiatives closer to residents of Agbado/Oke-Odo LCDA.
The initiative will also improve access to skills acquisition, business support services and wider market opportunities for entrepreneurs and small business owners.
Speaking during the engagement, the Permanent Secretary of MCCTI, Mr. Babatunde Onigbanjo, who represented the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose-Medebem, described the partnership as timely and strategic.
He said the Ministry remains committed to working closely with the LCDA to deliver measurable economic benefits that improve livelihoods and strengthen local businesses.
According to Onigbanjo, the collaboration will build on existing achievements within the council while creating sustainable opportunities for residents.
He noted that stronger cooperation between the state government and local councils is essential to expanding economic inclusion across Lagos.
Leading the Agbado/Oke-Odo LCDA delegation, the Special Adviser on Commerce and Investment, Hon. Henry Akinbobola, conveyed the goodwill of the Executive Chairman, Hon. Jimoh Abiodun Ishola Ejigbadero.
He explained that the council intends to connect residents, especially MSMEs, with the Ministry’s programmes across its commerce, cooperatives, trade and investment departments.
Akinbobola disclosed that the LCDA, which hosts one of the largest markets in Lagos State, plans to collaborate with the Ministry on exclusive trade fairs and business seminars.
He said the partnership will also strengthen market associations and reinforce the council’s role in connecting grassroots businesses with government opportunities.
One of the major outcomes of the meeting was the decision to formalise the collaboration through a Memorandum of Understanding (MoU) supported by a clear implementation framework.
The Permanent Secretary said the MoU will ensure effective execution of agreed programmes while serving as a model for future partnerships with other Local Council Development Areas.
During the meeting, directors from various departments of the Ministry highlighted several programmes that would benefit residents and business owners.
The Director of the Cooperative Department, Dr. Adeyemi Adeyinka, stressed the importance of establishing functional cooperative societies to enable residents to access government intervention programmes.
He said organised cooperatives would qualify for initiatives such as the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO), which offers single-digit interest loans to cooperative-based enterprises.
The Acting Director of the Commerce Department, Mr. Segun Alugba, highlighted the Ministry’s commitment to promoting locally made products through trade fairs and exhibitions.
He noted that such events provide MSMEs with valuable opportunities to showcase their products, attract customers and expand into new markets.
Alugba also encouraged fashion entrepreneurs to take advantage of the Eko Fashion Hub, where businesses receive practical training and access to modern production facilities.
Speaking on investment opportunities, the Director of Investment, Mrs. Funmi Dauda, reaffirmed the Ministry’s commitment to attracting and supporting investors across Lagos State.
She explained that the Ministry provides business advisory services, investor support and aftercare initiatives designed to encourage business growth and long-term investment.
Participants at the meeting agreed on the need to institutionalise collaboration between the Ministry, the LCDA, financial institutions, government agencies and private sector organisations.
They noted that stronger partnerships would improve access to technical support, funding opportunities and sustainable economic development initiatives.
Closing the meeting, the Director of Agribusiness Support, Mrs. Muminat Osiefa-Atitebi, said the proposed partnership is aimed at creating jobs, reducing poverty and driving inclusive economic growth.
She expressed confidence that the collaboration would empower entrepreneurs, strengthen local businesses and improve the economic wellbeing of residents across Agbado/Oke-Odo LCDA.
