By Joe Udo
ABUJA (CONVERSEER) – President Bola Tinubu has reaffirmed Nigeria’s commitment to creating a stable and business-friendly environment for both domestic and foreign investors.
Speaking at the 39th Lagos International Trade Fair (LITF) organised by the Lagos Chamber of Commerce and Industry (LCCI) on Friday in Lagos, the President said Nigeria was fully open for business.
Represented by the Minister of State for Industry, Senator John Enoh, President Tinubu assured investors that his administration was restructuring economic frameworks to ensure policy stability, honour contractual obligations, and provide transparent incentives for manufacturers, exporters, and small businesses.
He said the country was implementing reforms such as digitised ports, one-stop shops for business permits, smarter taxation, and faster dispute resolution mechanisms to ease business operations and attract investments.
“The Nigerian market is not only home to over 200 million people but also a hub of ideas, youthful brilliance, and limitless potential waiting to be scaled up,” Tinubu said.
The 2025 edition of the Lagos International Trade Fair, which runs from November 7 to 16, showcases Nigerian innovation, entrepreneurship, and the diversity of global economic partnerships.
The President further described the African Continental Free Trade Area (AfCFTA) as Africa’s most ambitious economic initiative, connecting a market of 1.4 billion people with a combined GDP of $3.4 trillion.
“Nigeria must not only participate in AfCFTA but must lead it,” Tinubu said, adding that the fair would strengthen partnerships and expand Nigerian products — from textiles to technology, cocoa to creative arts — across the continent and beyond.
He encouraged participants to see every locally made product as “a statement of confidence” and every partnership as “a step towards shared prosperity.”
Lagos Government Reaffirms Commitment to Business Growth
Lagos State Governor, Mr Babajide Sanwo-Olu, represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose-Medebem, said the fair’s theme, “Connecting Business, Creating Value,” aligns with Lagos’ vision as a dynamic hub of enterprise and opportunity.
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Sanwo-Olu said investing in Lagos was equivalent to investing in a city of over 23 million “dreamers and doers” with a youthful, tech-savvy population and a government committed to building the strongest enabling environment for businesses to thrive.
He highlighted his administration’s reforms in strengthening trade systems, simplifying investment procedures through one-stop business facilitation centres, improving land documentation, and supporting micro, small, and medium enterprises (MSMEs).
“One of our administration’s key priorities is innovative financing — creating new ways for businesses to access funds for growth and connecting Lagos-based enterprises to regional and international buyers,” he said.
The governor added that each year’s trade fair births new partnerships that lead to factories, export deals, and job creation. “To our exhibitors and visitors: Lagos is open. Engage, connect, explore, and build,” he said.
LCCI Pledges Support for Sustainable Growth
LCCI President, Mr Gabriel Idahosa, described the trade fair as a catalyst for commerce and innovation, providing enterprises with a platform to showcase resilience-driven solutions, explore collaborations, and promote sustainable growth.
He commended the participation of both federal and state governments, noting that such involvement demonstrated their commitment to empowering the private sector to produce for local consumption and export.
Idahosa encouraged Nigerian entrepreneurs to leverage the fair to form distributorship deals, network with international exhibitors, and diversify their product lines to strengthen their business value chains.
