By Abiodun Abdullai
The 2025 Lagos International Trade Fair has opened with a renewed call for stronger investment partnerships to unlock Nigeria's economic potential and deepen regional trade integration.
Speaking at the opening ceremony, Lagos State Governor Babajide Sanwo-Olu, represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described the fair as "a marketplace of ideas and a crucible for partnerships," urging both local and international investors to leverage the state's vast opportunities in manufacturing, technology, and services.
"Lagos is not just a city—it's a living economy," he said. "When you invest here, you invest in 23 million dreamers and doers, and in a government committed to building strong systems and sustainable institutions."
The Governor noted that Lagos contributes around 30 percent of Nigeria's GDP and accounts for more than half of non-oil revenue. With an estimated GDP of $259.75 billion in 2023, Lagos now ranks as Africa's second-largest city economy.
Sanwo-Olu highlighted ongoing reforms, including the expansion of the Blue and Red Rail Lines, rehabilitation of key roads, and the rollout of 3,000 kilometres of fibre-optic cabling to support digital trade and improve connectivity.
He reaffirmed his administration's support for small and medium-sized enterprises (SMEs), describing them as "the lifeblood of our economy." Through the Lagos State Employment Trust Fund and partnerships with commercial banks, more than 50,000 SMEs have received financial and technical support within two years.
Read also
"Lagos recently sponsored 20 small businesses to the Intra-African Trade Fair in Algeria, where they gained international visibility and recorded impressive sales," he added.
In his address, Gabriel Idahosa, President of the Lagos Chamber of Commerce and Industry (LCCI), said this year's fair, themed "Connecting businesses, creating value," brings together over 2,000 exhibitors from Africa, Asia, and Europe, and is expected to attract 500,000 visitors over ten days.
Idahosa disclosed that the fair's setup phase has already injected over ₦250 million into the local economy and created 280 jobs for artisans and service providers.
The 2025 edition also features a Tech Hub for digital innovation and an Africa Hall, supported by Afreximbank, to promote intra-African trade under the AfCFTA framework.
He urged Nigerian entrepreneurs to use the fair as a platform to secure export and partnership deals that can scale local production and drive economic diversification.
The opening ceremony was attended by senior government officials and international partners, including representatives from AfCFTA, ECOWAS, Afreximbank, and foreign missions from Japan and China—all reaffirming their commitment to strengthening investment cooperation across Africa.
