President Bola Ahmed Tinubu has announced that Nigeria has secured over $5 billion in new foreign investments in manufacturing, fintech, and energy through policy clarity and active investor engagement since he assumed office two years ago.
Speaking at the opening of the 2025 Lagos International Trade Fair (LITF) organized by the Lagos Chamber of Commerce and Industry (LCCI), Tinubu—represented by Minister of State for Industry, John Owan Enoh—said reforms by the Presidential Enabling Business Environment Council (PEBEC) have streamlined business registration, digitized port operations, and simplified regulations.
He reaffirmed his administration’s commitment to economic rebuilding, investor confidence, and local industry growth, emphasizing that Nigeria must lead the African Continental Free Trade Area (AfCFTA) initiative. Tinubu promised policy stability, transparent incentives, smarter taxation, and faster dispute resolution while strengthening the manufacturing and export sectors.
LCCI President Gabriel Idahosa said the fair’s theme, “Connecting Businesses, Creating Value,” captures its essence. The 39th edition of the event features about 2,000 exhibitors from Nigeria, China, Japan, Ghana, and other African nations, and expects 500,000 visitors over ten days. Idahosa added that the fair has already injected ₦250 million into the local economy and employed 280 artisans.
Lagos State Governor Babajide Sanwo-Olu, represented by Commissioner Folashade Bada Ambrose-Medebem, highlighted Lagos as a hub of African enterprise. He said the state has simplified investment processes, improved land and trade documentation, and enhanced industrial zones, attracting both local and foreign investors. Over 50,000 MSMEs have received funding in the past two years, many now operating as exporters and franchise owners.
Both leaders urged Nigerian businesses to use the fair as a platform for partnerships, distributorship deals, and trade expansion to strengthen value chains and drive shared prosperity.
