Nov. 9, 2021
The increase in the price of the single-entry ticket for the yearly Lagos International Trade fair to N500 has been reviewed downward to N350 with effect from Tuesday, November 9, 2021, the Lagos Chamber of commerce and industry (LCCI) has announced.
In a statement signed by the Director, trade promotion, Taiwo Seriki, justifying the initial increase, the chairman, trade promotion board, Gabriel Idahosa- explained that it was necessitated by the impacts of the general rising costs of goods and services in the country.
“We have maintained the old price of N200 for many years despite rising costs, because our priority remains the interest of our exhibitors”.
Idahosa noted that the increase this year was due to the prevailing economic realities which are obvious”.
“Nevertheless, we have decided to reduce the price to satisfy our exhibitors”.
Seriki who formally announced the downward price review in a memorandum to all the exhibitors at the fair, disclosed that the decision to increase the gate fee also had exhibitors’ safety as a major concern as it would discourage most of the miscreants from visiting the fair ground.
The Memorandum reads in part:
Please be informed that the LCCI trade Promotion Board has approved a reduction in the price of the single-entry ticket to N350, intended to accommodate more visitors and buyers to the fair venue.
In addition, we have also designed a strategic plan to increase awareness and increase human traffic to the fair.
Please note that the cost is reflective of the current economic reality in the country and the cost of delivering a successful world-class fair.
Our decision is in strict consideration of your safety and profitability, as it is intended to prevent miscreants from gaining access to the fair.
The 10-day fair which began on Friday, 5th November 2021 will end on Sunday, 14th November.
