The annual event, widely regarded as the largest business exhibition in Ogun State, will bring together entrepreneurs, innovators and industry players in a two-day showcase of products, services and business opportunities.
Addressing journalists in a press conference on Monday ahead of the exhibition, the Chief Executive Officer of Deemakay World, Adedamola Makanjuola, said the initiative was conceived to strengthen Micro, Small and Medium Enterprises (MSMEs) in the state and position them to compete more favourably with businesses in major commercial hubs across Nigeria.
Makanjuola noted that the informal sector continues to play a vital role in job creation and income generation, especially in emerging economies like Nigeria.
She, however, lamented that MSMEs still grapple with several structural challenges such as unstable market prices, weak economic policies, limited access to finance and inadequate infrastructure.
Makanjuola explained that many small businesses struggle to obtain loans due to lack of collateral and poor credit history, while high interest rates on available facilities often cripple growth.
She added that the unreliable power supply, poor transport systems and the burden of multiple taxation significantly increase operational costs for entrepreneurs.
“MSMEs have Limited Access to Finance; this is one of the most pressing challenges. MSMEs struggle to secure loans from financial institutions due to a lack of collateral and limited credit history. When loans are available, the interest rates are often prohibitively high, restricting expansion and day-to-day operations.
“Also, unreliable power supply, poor transport systems, and a lack of other basic amenities significantly increase operational costs, as businesses are forced to provide these utilities themselves (e.g., generators for electricity).
“Regulatory Burden and Multiple Taxation is another challenge we face as MSMEs; We (MSMEs) navigate a complex and often inconsistent regulatory framework, which consumes valuable time and resources.
“Multiple, unharmonized taxes and levies imposed by different levels of government add to the cost of doing business and can be a major cause of business failure.
“Finding and retaining skilled employees is also challenging, as larger companies often offer better salaries and career prospects.
“Many MSMEs still rely on outdated production methods. Limited awareness, inadequate funds, and a lack of technical support make it difficult to adopt modern tools and digital platforms necessary for increased productivity and competitiveness.
The CEO identified limited managerial skills, outdated production methods and difficulty in attracting skilled labour as major obstacles confronting small businesses.
“Many entrepreneurs lack essential business management skills, such as financial record-keeping, strategic planning, and quality control”.
Despite these challenges, she said the informal sector remains a vital safety net for many Nigerians seeking employment or economic stability.
Makanjuola said Season 7 of the exhibition will serve as a rallying point for vendors and a platform to link MSMEs with government agencies and industry experts.
She added that this year’s event will also feature a mentorship fireside conversation aimed at helping entrepreneurs build stronger, more sustainable enterprises.
The CEO announced that the Ogun State Commissioner for Women Affairs and Social Development, Hon. Adijat Adeleye, will be the guest speaker.
According to her, her participation aligns with the exhibition’s vision and is expected to further support efforts to connect small businesses with opportunities curated for MSMEs in the state.
Makanjuola expressed optimism that the exhibition will contribute to boosting the state’s internally generated revenue while promoting the growth of local enterprises.
“Season 7 seeks to connect vendors, exhibitors, guests to industry players, government functionaries on a mentorship fireside conversation towards becoming a better entrepreneur.
“This year, we will be having the Ogun State commissioner for Women affairs and social development, Hon. Adijat Adeleye join us as our distinguished guest speaker. We strongly believe her office, roles and responsibilities aligns with what we do at DBE . We believe her presence will further help consolidate on the gains of the exhibition thereby linking entrepreneurs to opportunities tailored for MSMEs”.
Also speaking, CEO of Elite Imperial Global Limited, Akindele John Ayomide stressed on the security preparedness for the event.
He stated that collaboration with security agencies, including the police, army and civil defence corps, alongside trained local security personnel( Bouncers), has ensured a safe environment in previous editions.
“Security has never been a major concern for us over the years,” he assured.
