Nigerian President, Bola Ahmed Tinubu has pledged government’s commitment to stable policies instead of sudden reversals as well as transparent incentives to small and medium enterprises and manufacturers.
The President made the pledge as he declared open the 2025 Lagos International Trade Fair.
He described the event as the “very engine room of our nation’s future”and a symbol of Nigerian enterprise and resilience.
Addressing captains of industry, diplomats, and exhibitors, the President asserted that the fair’s opening comes at an “extraordinary moment” as the global economy recalibrates, stating, “Nigeria chooses to act.”
The President who was represented by the Minister of State for Industry in Nigeria, Senator John Enoh, highlighted that the Renewed Hope Agenda was deliberately moving the country from mere potential to tangible productivity.
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Reforms to Boost Competitiveness
President Tinubu detailed several key economic reforms undertaken over the past two years, characterizing them as “deliberate, sometimes difficult, but necessary steps” to build a truly competitive economy.
While touting progress, the President acknowledged the challenges facing the nation stating that inflation continues to strain households, energy supply was still short of optimal levels, and security in certain regions demands “unwavering vigilance and action.”
However, he insisted, “challenges do not define the Nigerian story. Our response to them does.”
He paid special tribute to the Lagos Chamber of Commerce and Industry (LCCI) for its six decades of stewardship and lauded the private sector as the economy’s backbone, noting it creates over 90% of jobs.
President Tinubu further emphasized Nigeria’s role in the African Continental Free Trade Area (AfCFTA), stating that “Nigeria must not only participate in it, we must lead it.
He hailed the Trade Fair as a crucial platform for forming arts,” across the continent and beyond.