By Debo Omilani, Lagos

President Bola Ahmed Tinubu on Friday declared open the 2025 Lagos International Trade Fair, reaffirming his administration’s commitment to strengthening Nigeria’s economy through industrial expansion, investment-friendly reforms, and deeper regional trade partnerships.

Speaking at the opening ceremony held at Tafawa Balewa Square, Lagos, the President described the annual fair as more than a commercial gathering, calling it a “platform of possibilities” capable of shaping the future of Nigeria’s economy.

Tinubu, represented by the Minister of State for Industry, Trade and Investment, Senator John Enoh, said this year’s fair comes at a defining moment for the global economy as countries reposition supply chains and investment flows. He noted that under the Renewed Hope Agenda, Nigeria is taking decisive steps to move “from potential to productivity.”

“Our government is focused on turning Nigeria’s vast potential into tangible productivity through sound reforms and bold actions that promote industrial growth and competitiveness,” he said.

The President highlighted key reforms undertaken in the past two years, including the removal of fuel subsidy, unification of the foreign exchange market, and improvements through the Presidential Enabling Business Environment Council (PEBEC). He added that the administration is deepening investments in manufacturing, fintech, and energy, while expanding Special Agro-Industrial Processing Zones across states to boost agricultural industrialization.

While acknowledging persistent challenges such as inflation, energy supply gaps, and security issues, Tinubu maintained that Nigeria’s economy remains driven by resilience and innovation.

“Challenges do not define the Nigerian story. Our response to them does,” he said.

The President commended the Lagos Chamber of Commerce and Industry (LCCI) for sustaining the fair for nearly four decades and praised the private sector as “the backbone of the economy,” contributing over 90 percent of national employment.

Tinubu also reiterated Nigeria’s commitment to leading the African Continental Free Trade Area (AfCFTA), emphasizing the potential of a unified African market of 1.4 billion people.

“Nigeria must not only participate in AfCFTA; we must lead it,” he declared, urging investors to take advantage of ongoing reforms, improved trade infrastructure, and expanding market access.

In his remarks, Lagos State Governor Babajide Sanwo-Olu, represented by Mrs. Folashade Kaosarat Bada Ambrose, Commissioner for Trade, Investment and Cooperatives, welcomed investors and exhibitors, describing Lagos as Africa’s commercial gateway and the continent’s largest investment destination.

“This fair is more than an exhibition; it is a launchpad for enterprise and a commitment to shared prosperity. Lagos is open — engage, connect, explore, and build,” Sanwo-Olu said.

Earlier, LCCI President Gabriel Idahosa disclosed that the 2025 edition of the fair will host over 2,000 exhibitors and attract an estimated 500,000 visitors over ten days. He said the fair has evolved into a multi-sectoral event featuring tech, manufacturing, cultural, and regional trade halls, including an Africa Hall supported by Afreximbank and delegations from China and Japan.

Idahosa also revealed that pre-fair activities generated ₦250 million into the local economy and created over 280 temporary jobs through booth construction and logistics.

“This fair is a strategic platform for forging partnerships, expanding market access, and enhancing value creation across Africa and beyond,” he added.

The 2025 Lagos International Trade Fair runs from November 7 to 16 at Tafawa Balewa Square, Lagos.