The Federal Government announced that Nigeria has attracted over $5 billion in new investments across manufacturing, fintech, and energy, calling it clear evidence of growing investor confidence in the country’s economic reforms.
President Bola Tinubu, represented by the Minister of State for Industry, Senator John Enoh, praised Nigeria’s economic progress while declaring open the 39th Lagos International Trade Fair at Tafawa Balewa Square, organized by the Lagos Chamber of Commerce and Industry. He said the new inflows show that the government’s policy measures under the Renewed Hope Agenda—such as the removal of fuel subsidies, unification of the foreign exchange system, and the ongoing push to simplify business regulations, are working.
Tinubu explained that policy clarity and investor engagement have helped attract the $5 billion inflows over the past two years. He said these reforms continue to restore transparency, rebuild trust, and place Nigeria on a more stable fiscal path. The President reaffirmed the government’s goal to convert Nigeria’s economic potential into productivity by strengthening local industries and improving the ease of doing business. He said the Renewed Hope Agenda aims to move Nigeria “from potential to productivity,” deepen investor confidence, and promote innovation and trade.
Tinubu also reaffirmed Nigeria’s ambition to lead the African Continental Free Trade Area, emphasizing that the country must not only participate in the agreement but drive its implementation. He praised the Lagos Chamber of Commerce and Industry for sustaining the trade fair for nearly four decades and commended Lagos State’s infrastructure development, describing the city as the commercial heartbeat of Africa.
LCCI President Gabriel Idahosa revealed that the fair had already injected N250 million into the economy through booth construction and the employment of 280 local artisans during its setup phase, demonstrating the event’s immediate economic impact. He said the trade fair goes beyond displaying products, it serves as a platform for job creation, innovation, and the promotion of intra-African trade.
Idahosa explained that the 2025 edition of the fair, themed “Connecting Businesses, Creating Value,” would host over 2,000 exhibitors and attract around 500,000 visitors over 10 days. He noted that the Africa Hall, supported by Afreximbank, will promote intra-African trade under the AfCFTA framework. The LCCI president also said this year’s fair introduced new features, transforming the event into a multi-exhibition model that allows visitors to explore various sectors in one grand location. The model now covers industries such as manufacturing, services, agriculture, and digital innovation.
He highlighted the newly launched Tech Hub as a key feature of the event, describing it as a reflection of LCCI’s commitment to digital transformation. The hub will showcase technopreneurs and innovators from the telecommunications, software, and ICT sectors who are driving Nigeria’s growing digital economy. Idahosa said the tech sector remains one of Nigeria’s fastest-growing areas, and through the hub, LCCI aims to celebrate and support the innovators building technology-driven solutions for the country’s future.
Representing Lagos State Governor Babajide Sanwo-Olu, the Commissioner for Commerce, Cooperatives, Trade, and Investment, Folashade Ambrose-Medebem, said Lagos continues to attract investment through better infrastructure, industrial clusters, and digital systems. She announced that Lagos has secured the right to host the 2027 Intra-African Trade Fair in partnership with the Federal Government, expanding Nigeria’s presence in continental trade.
Running until November 16, the trade fair aims to create new partnerships, boost industrial collaboration, and strengthen Nigeria’s reputation as a top destination for investment in Africa.
