Sanwo-Olu Praises Lagos Shopping Festival for Boosting Festival Economy
Governor Babajide Sanwo-Olu has expressed high praise for the inaugural Lagos Shopping Festival (LSF), which concluded in the early hours of Boxing Day at the Mobolaji Johnson Arena in Onikan. Organized by Chain Reactions Africa Ltd, a leading Public Relations Consulting firm, the 72-hour non-stop shopping and entertainment event marked a significant milestone in the state’s efforts to establish a thriving festival economy.
Sanwo-Olu described the festival as a strategic initiative to enhance Lagos’ economic landscape during the Yuletide season. He stated, “We are gradually building a festival economy for our great State. This idea of a 72-hour shopping festival is another strategic pillar on which the full edifice of a festival economy at Yuletide can rest.”
The Governor emphasized the festival’s positive impact on youth employment, noting that thousands of young people were actively involved in various roles, including event management, stage design, sound and lighting setup, crowd control, and branding. Their participation underscored the festival’s potential to create opportunities across multiple sectors.
What makes the Lagos Shopping Festival unique?
The Governor highlighted the seamless organization of the event, crediting the Lagos Traffic Management Authority (LASTMA) and security agencies for ensuring smooth operations. He also commended the absence of any major incidents or medical emergencies, which he attributed to the exceptional planning and execution by the organizers.
Sanwo-Olu also stressed the festival’s focus on connecting shoppers with Micro, Small, and Medium-sized Enterprises (MSMEs). He described the event as a platform for scaling and optimizing small businesses, fostering economic growth at the grassroots level.
Corporate sponsorship played a key role in the festival’s success, with major brands such as Tolaram Group, Guinness Nigeria, Zenith Bank, and First Bank lending their support. The Governor thanked these sponsors for their contributions to the event’s maiden edition.
The Lagos Shopping Festival has set a precedent as a first-of-its-kind event in Africa, blending shopping and entertainment to boost economic activity. With its success, the state looks forward to future editions that will further solidify Lagos’ position as a hub for innovation, commerce, and culture.
