President Bola Ahmed Tinubu, represented by Minister of state for industry, trade, and investment, Senator John Owan Enoh, officially declared open the 2025 Lagos International Trade Fair, emphasizing Nigeria’s determination to transform from a nation of potential to one of productivity under his administration’s Renewed Hope Agenda. The opening ceremony, attended by business leaders, diplomats, entrepreneurs, and investors from around the world, marked a pivotal moment for Nigeria’s trade and industrial landscape.
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A Symbol of Nigerian Enterprise and Resilience
Addressing the gathering, President Tinubu described the Lagos International Trade Fair as more than just a marketplace, but as a reflection of Nigerian enterprise, creativity, and resilience. He lauded the fair’s legacy as a hub for innovation and a vital platform for connecting local producers with global partners.
“As I look across this gathering of visionary minds — manufacturers, farmers, digital creators, investors, and small business owners — I see not just a marketplace, but the very engine room of our nation’s future,” the President stated.
Reforms for a Competitive and Productive Economy
Highlighting key reforms implemented over the past two years, Tinubu outlined major economic policy measures designed to attract investment, enhance transparency, and promote sustainable growth.
These include:
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Fuel subsidy removal and foreign exchange unification, aimed at restoring fiscal stability and investor confidence.
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Reforms under the Presidential Enabling Business Environment Council (PEBEC), which have streamlined business registration and port operations.
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Attraction of $5 billion in new investments across manufacturing, fintech, and energy sectors.
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Implementation of the Nigeria Startup Act, supporting young innovators and digital entrepreneurs.
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Expansion of Special Agro-Industrial Processing Zones (SAPZs) in states such as Kano, Ogun, Kaduna, and Calabar to transform agriculture into industry-driven production.
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Acknowledging Challenges, Reinforcing Optimism
While recognizing ongoing challenges such as inflation, energy supply gaps, and regional security concerns, President Tinubu reaffirmed his administration’s resolve to confront these issues with courage and commitment.
“Challenges do not define the Nigerian story. Our response to them does,” he declared.
Private Sector and Lagos at the Heart of Growth
The President commended the Lagos Chamber of Commerce and Industry (LCCI) for its stewardship of the trade fair for over six decades, and the Lagos State Government for sustaining the city’s status as Africa’s commercial hub. He paid special tribute to the private sector, acknowledging its contribution of over 90% of national employment and its continued resilience amid economic headwinds.
Nigeria’s Leadership Role in AfCFTA
President Tinubu reiterated Nigeria’s commitment to taking a leadership role in the African Continental Free Trade Area (AfCFTA), which unites a market of 1.4 billion people and a combined GDP of $3.4 trillion. He urged Nigerian businesses to leverage the fair to expand across Africa and beyond, positioning the country as a key driver of continental trade and innovation.
Assurances to Investors: Nigeria is Open for Business
To both local and international investors, the President assured that Nigeria remains open for business under a framework of policy stability, transparency, and trust.
“We are restructuring to ensure stable policies instead of sudden reversals; contracts that are honoured, not revisited; and transparent incentives for manufacturers, exporters, and SMEs,” he said.
He also outlined plans for digitised ports, smart taxation systems, and faster dispute resolution mechanisms to enhance the ease of doing business.
A Call for Collaboration and Innovation
President Tinubu urged participants to view the trade fair not merely as a platform for commerce, but as an opportunity to forge new partnerships and fuel industrial growth.
“Every product made in Nigeria is a statement of confidence. Every partnership formed here is a step toward shared prosperity,” he affirmed.
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Conclusion
In his closing remarks, President Tinubu officially declared the 2025 Lagos International Trade Fair open, calling on stakeholders to seize the opportunities presented by the event to advance Nigeria’s economic transformation.
“May this fair inspire new ventures, ignite new collaborations, and strengthen our shared resolve to build a Nigeria that trades, competes, manufactures, and thrives,” he concluded.
The 2025 Lagos International Trade Fair, organized by the LCCI, is expected to host hundreds of exhibitors and thousands of visitors from across the globe, serving as a vital platform for promoting investment, innovation, and economic partnership in Africa’s largest economy.
Featured Image Source: Independent NG
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