BENCCIMA DG explains cancellaton of 2024 Trade Fair

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The Benin Chamber of Commerce, Industry, Mines, and Agriculture (BENCCIMA) has explained the cancellation of its 2024 Trade Fair, citing financial constraints and the impact of a challenging economic environment as the primary reasons.

Speaking to newsmen in Benin City, BENCCIMA’s Director-General, Imalingmhe John Yesufu, explained that the lack of funding from traditional sponsors, many of whom are grappling with economic difficulties, was a major setback.

“Our traditional sponsors, who have consistently supported the trade fair, were unable to contribute this year due to ongoing economic challenges,” Yesufu said. 

"These sponsors are crucial, especially for small and medium-sized enterprises (SMEs) that rely on this platform to grow their businesses.”

Another significant factor was the gubernatorial election scheduled for 2024 in Edo State. 

According to Yesufu, the election shifted focus away from business events, with government attention diverted to political campaigns and the transition period.

“The government’s involvement is critical to the success of the trade fair. Unfortunately, with their attention on the elections, it became difficult to secure the necessary support and resources,” he noted.

Yesufu also highlighted the importance of careful planning for the event, emphasizing the risks of poor execution. 

He recalled a previous poorly managed trade fair that left a negative legacy, something BENCCIMA was determined to avoid.

“We aim to deliver a trade fair that brings value to all stakeholders. A poorly executed event would not only affect current participants but also harm future prospects,” he said.

Logistical challenges, particularly in engaging rural communities and local governments, further compounded the issues. 

"Many of these areas, rich in agricultural and mineral resources, struggled with transportation and limited resources, making participation difficult."

Despite these challenges, Yesufu expressed optimism for the future. He revealed that preparations for the 2025 Trade Fair are already underway, with efforts to secure sponsorship and ensure a well-organized event.

“We are committed to hosting the 2025 Trade Fair, and we are confident it will be a great success,” he assured.

In addition to the trade fair, he said BENCCIMA plans to hold an award ceremony later this year to recognize outstanding contributions to the business community. 

Yesufu also called on Edo State Governor Monday Okpebholo for greater support in developing the trade fair site, including infrastructure improvements to make the event more accessible and affordable for participants.

“With proper facilities, we can create a more effective platform for trade and investment in Edo State,” he concluded.

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