Nigeria’s economy is propped up by 42 million MSMEs. Millions of which are in Lagos State, these are entrepreneurs, with no significant equity cushion (assets of less than N10 million). These businesses underpin around 60 million jobs,
that are directly or indirectly affected by policies, exchange rate, economic relationships and economic state. #LSBS2022.
McKinsey estimates that in the “least worst-case scenario”, that is, even with a contained outbreak, Nigeria’s GDP will contract by 3.4% between 2021 and 2022, from 2.5% growth previously projected. Small businesses, their founders and employees are often the most vulnerable in times like these. Many will face cost pressures, liquidity issues, supply chain challenges, bankruptcies, closures and job losses.
The 2022 Summit will include panel discussions, approaches, keynote presentations, Awards, exhibition, special sectors feature, Investor meets business platform launch, break-out session and a pitch competition.