By Abiodun Abdullai
The minister of industry, trade and investment, Jumoke Oduwole, has called for deeper collaboration and expanded digital capacity to support the Federal Government's ongoing economic reforms.
Speaking at the opening of the 2025 Nigeria International Trade Fair in Lagos, the minister said the event comes at a decisive moment as Nigeria works to stabilise the economy, strengthen productivity and reinforce its regional position.
Oduwole said this year's theme, "Trade, technology and transformation: digital trade for economic and industrial growth," reflects the government's push to build an economy driven by technology-enabled commerce and modern industrial processes.
She described the fair as a demonstration of economic resilience and urged African exhibitors and partners to leverage emerging innovations, noting that Nigeria is positioning itself as a regional marketplace and gateway for West African trade.
Oduwole emphasised that physical trade fairs remain important for commercial engagement even as global trade shifts rapidly online.
Reform gains highlighted
Reviewing the impact of recent policy changes under President Bola Tinubu's administration, the minister said reforms such as exchange rate unification, subsidy removal, improved customs processes and tighter fiscal controls have contributed to a steadier foreign exchange market and stronger economic outlook.
According to her, Nigeria's intra-African trade increased by 14 per cent in the first half of the year, reflecting early gains from the reforms.
Trade fair complex to undergo modernisation
The executive director of the Lagos International Trade Fair Complex Management Board, Vera Ndanusa, said the fair highlights Nigeria's readiness to lead Africa's evolving trade environment.
She noted that the complex suffered years of decline but is now undergoing a turnaround aimed at restoring its role as a national trade hub. Plans include a modernised regulatory framework and stronger partnerships with NACCIMA, ECOWAS and global trade bodies, alongside efforts to deepen non-oil exports and support SME growth.
Stakeholders push for stronger product standards
Traditional ruler Etsu Nupe, Yahaya Abubakar, described the fair as an important step in the transition from traditional commerce to digitally enabled trade.
Minister of state for industry, John Enoh, said the fair is taking place amid global economic shifts and domestic security challenges, increasing the need for regional cooperation and trade integration.
Chairman of the House Committee on Commerce, Ahmed Munir, said lawmakers are working to strengthen the business environment through legislation that eases regulatory barriers and improves infrastructure, particularly for MSMEs that contribute nearly half of Nigeria's GDP. He also reaffirmed support for the "Nigeria first" procurement policy and disclosed plans for a Weights and Measures Centre to enhance product quality and competitiveness.
Other stakeholders, including SMEDAN director-general Charles Odii and APT chairman Eric Ilechukwu, called for improvements in product quality, stronger support for education and commerce, and greater patronage of locally produced goods to drive SME expansion.
The 2025 edition of the fair attracted participants from federal ministries, state governments, lawmakers, industry leaders, NEXIM Bank, SMEDAN, NACCIMA and NAWE, with discussions focused on trade policy, SME development, export growth, financing, innovation and industrial transformation.
