President Bola Tinubu has assured domestic and international investors of Nigeria’s openness and readiness for business partnerships.
The President said this 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.
He said the country was open for business.
The President was represented at the fair by the Minister of State for Industry, Sen. John Enoh.
The 2025 edition of the fair will run from Nov. 7 to 16, showcasing the best of Nigerian entrepreneurship and ingenuity, and the diversity and richness of global economic partnerships.
Tinubu affirmed that Nigeria was restructuring to ensure stable policies instead of sudden reversals, 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.
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.
The Governor of Lagos State, Mr 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.
The governor was represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose -Medebem.
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.
He added that investing in the state meant investing in a government that understood the power of enterprise and was committed to building the strongest enabling environment for businesses to thrive.
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, institutions, simplified investment procedures through one-stop business facilitation centres, strengthened land and trade documentation processes, and improved access to transparent data for investors.
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.
“One of our administration’s key priorities is innovative financing, which is creating new ways for businesses to access funds for growth, and facilitating market access.
“We are also working to deepen the reach of our trade facilitation efforts, which connects Lagos-based businesses to regional and international buyers.
“At the fair each year, new partnerships are born, partnerships that lead to new factories, export deals, and job opportunities. This is the power of connection. This is the value of Lagos.
“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, Mr Gabriel Idahosa, said the fair, was an incubator of ideas and a catalyst for commerce.
Idahosa stated that it was an opportunity for enterprises to showcase resilience-driven solutions, explore synergies, and drive sustainable growth in Nigeria and the wider region.
He lauded the federal and state governments for their participation, saying government’s participation is a tangible demonstration of its commitment to empowering the private sector to produce for local consumption and export.
He urged Nigerian businesses and entrepreneurs to network with international exhibitors, initiate distributorship deals, and foster trade agreements to enhance their business value chains and diversify their product offerings.
