President Bola Ahmed Tinubu says his administration has attracted over $5 billion in new foreign investments across manufacturing, fintech, and energy sectors through policy clarity, reforms, and continuous engagement with investors.
Gatekeepers News reports that the president stated this on Friday at the opening ceremony of the 2025 Lagos International Trade Fair (LITF) organised by the Lagos Chamber of Commerce and Industry (LCCI), held at Tafawa Balewa Square, Lagos.
Represented by the Minister of State for Industry, Trade and Investment, John Owan Enoh, Tinubu said the government’s ongoing economic reforms — including the Presidential Enabling Business Environment Council (PEBEC) initiatives — have shortened business registration timelines, digitised port operations, and simplified regulatory processes.
“We are rebuilding the economy, deepening investor confidence, and championing local industry, innovation, and trade,” Tinubu said.
“Nigeria must not just participate in the African Continental Free Trade Area (AfCFTA) — we must lead it.”
The president reaffirmed his commitment to stable and transparent economic policies, assuring investors that his government will honour contracts, improve incentives for manufacturers and exporters, digitalise ports, introduce smarter taxation, and expedite dispute resolution processes.
He described the annual fair as a celebration of Nigerian enterprise, creativity, and resilience, urging businesses to seize emerging opportunities in global supply chain shifts.
In his remarks, LCCI President, Gabriel Idahosa, said this year’s fair — the 39th edition — themed “Connecting Businesses, Creating Value”, has drawn nearly 2,000 exhibitors and is expected to attract over 500,000 visitors during its 10-day run.
He noted that the event has already injected ₦250 million into the local economy and created jobs for 280 local artisans, reflecting its immediate economic impact.
Over 200 international exhibitors from countries including China, Japan, and Ghana are participating, showcasing African innovation and fostering cross-border partnerships.
“This fair creates opportunities for distributorship deals and trade agreements that can strengthen Nigerian value chains and diversify exports,” Tinubu added.
In a keynote address, Lagos State Governor Babajide Sanwo-Olu, represented by Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Bada Ambrose-Medebem, highlighted Lagos as a hub of African entrepreneurship.
He said the state has simplified investment procedures through a one-stop business facilitation centre, expanded industrial zones and clusters, and provided financial support to over 50,000 MSMEs, many of whom have grown into exporters and franchise owners.
“We are committed to building a Lagos that remains the gateway for trade and investment in Africa,” the governor said, urging exhibitors to use the fair as a springboard for enterprise and innovation.
