President Bola Tinubu has assured domestic and international investors of Nigeria’s openness and readiness for business partnerships.
The president spoke at the 39th edition of the Lagos International Trade Fair (LITF) organised by the Lagos Chamber of Commerce and Industry (LCCI) on Friday in Lagos.
The president, represented at the fair by the Minister of State for Industry, Senator John Enoh, said Nigeria was open for business.
The 2025 edition of the fair will run from November 7 to 16, showcasing the best of Nigerian entrepreneurship and ingenuity, as well as the diversity and richness of global economic partnerships.
Mr Tinubu affirmed that Nigeria was restructuring to ensure stable policies, rather than sudden reversals, and honoured contracts and transparent incentives for manufacturers, exporters, and small businesses.
He assured businesses of digitised ports, one-stop shops for business permits, smarter taxation, and faster dispute resolution.
The president stated that Nigeria was not just a market of over 200 million people but a nation of ideas, youthful brilliance, and limitless potential waiting to be scaled up.
He described the African Continental Free Trade Area as the most ambitious economic project in modern Africa, creating a market of 1.4 billion people and a combined gross domestic product (GDP) of $3.4 trillion.
Mr Tinubu said Nigeria must not only participate in it but must lead it.
“This fair provides the partnerships, conversations, and networks that will take Nigerian products, from textiles to technology, cocoa to creative arts, to every corner of the continent and beyond.
“As you network, trade, and showcase your work, remember that every product made in Nigeria is a statement of confidence, and every partnership formed here is a step towards shared prosperity,” he said.
Lagos State Governor Babajide Sanwo-Olu said the fair’s theme, “Connecting Business, Creating Value,” captured what Lagos stood for: a dynamic hub where vision meets value and enterprise meets opportunity.
Represented by the commissioner for commerce, cooperatives, trade, and investment, Folasade Ambrose-Medebem, Mr Sanwo-Olu said investing in Lagos meant investing in a city of over 23 million dreamers and doers with a market that was young, tech-savvy, and forward-looking.
The governor said his administration had been deliberate and consistent in strengthening the fundamentals of trade and commerce.
He said the state had built systems and institutions, simplified investment procedures through one-stop business facilitation centres, strengthened land and trade documentation processes, and improved access to transparent data for investors.
Mr Sanwo-Olu added that his administration had a deep commitment to supporting MSMEs, cooperatives, and inclusive growth.
The governor noted that his vision was not limited to large-scale investors alone.
“To our exhibitors and visitors: Lagos is open. Engage, connect, explore, and build. Whether you are here from Ghana or Germany, Japan or Jos, know that Lagos is your home for commerce,” he said.
The president of LCCI, Gabriel Idahosa, lauded the federal and state governments for their participation, stating that government involvement is a tangible demonstration of its commitment to empowering the private sector to produce for local consumption and export.
(NAN)