The Federal Government has announced that Nigeria has secured over $5 billion in fresh investments across the manufacturing, fintech, and energy sectors, highlighting this as 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 the nation’s economic trajectory on Friday during the opening of the 39th Lagos International Trade Fair, organized by the Lagos Chamber of Commerce and Industry (LCCI) at Tafawa Balewa Square.
The president attributed the investment inflows to key policy measures under the Renewed Hope Agenda, including the removal of fuel subsidies, the unification of the foreign exchange system, and continued efforts to simplify business regulations. “Over the past two years, we have attracted over $5 billion in manufacturing, fintech, and energy investments through policy clarity and investor engagement,” Tinubu said. “These reforms are restoring transparency, rebuilding investor trust, and placing Nigeria on a sustainable fiscal path.”
He added that the government is focused on transforming Nigeria’s potential into tangible productivity by strengthening local industries and improving the ease of doing business. “Under the Renewed Hope Agenda, we are moving purposefully from potential to productivity, enhancing investor confidence while championing innovation and trade,” he said. Tinubu also reaffirmed Nigeria’s ambition to lead the African Continental Free Trade Area (AfCFTA), stressing that the country must not only participate but actively drive the continental pact’s implementation.
The president commended the Lagos Chamber of Commerce and Industry for maintaining the trade fair for nearly four decades and praised Lagos State’s infrastructural growth, describing the city as the “commercial heartbeat of Africa.” LCCI President Gabriel Idahosa noted that the event had already generated N250 million through booth construction and the employment of 280 local artisans during setup, demonstrating an immediate economic impact. He emphasized that the fair is not merely a showcase for products but a catalyst for job creation, innovation, and intra-African trade.
The 2025 fair, themed “Connecting Businesses, Creating Value,” is expected to feature over 2,000 exhibitors and attract around 500,000 visitors over 10 days. The Africa Hall, supported by Afreximbank, will further promote intra-African trade under AfCFTA. Idahosa highlighted new initiatives in this edition, including a multi-exhibition model that allows participants to explore various sectors,manufacturing, agriculture, services, and digital innovation,within a single dynamic space.
A central highlight is the Tech Hub, designed to showcase technopreneurs and innovators in telecommunications, software, and ICT. Idahosa described the hub as emblematic of Nigeria’s commitment to digital transformation, noting that the tech sector remains one of the country’s fastest-growing economic segments.
Representing Lagos State Governor Babajide Sanwo-Olu, Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, underscored the state’s role in attracting investment through improved infrastructure, industrial clusters, and digital systems. She also noted that Lagos will host the 2027 Intra-African Trade Fair in partnership with the Federal Government, further strengthening Nigeria’s continental trade footprint.
The fair, running until November 16, is expected to forge new partnerships, enhance innovation, and solidify Nigeria’s position as a preferred destination for investment and industrial collaboration across Africa.
