The Federal Government has announced that Nigeria has attracted over $5 billion in new investments across the manufacturing, fintech, and energy sectors, describing the inflows as a sign of renewed investor confidence in its economic reforms.
President Bola Tinubu, represented by the Minister of State for Industry, Senator John Enoh, made this known while declaring open the 39th Lagos International Trade Fair, organised by the Lagos Chamber of Commerce and Industry (LCCI) at Tafawa Balewa Square.
He attributed the investment inflows to policy measures under the Renewed Hope Agenda, including the removal of fuel subsidies, unification of the foreign exchange system, and ongoing regulatory reforms.
"Over the past two years, we have attracted over $5bn in new manufacturing, fintech, and energy investments through policy clarity and investor engagement," Tinubu said. "These reforms are rebuilding investor trust and placing Nigeria on a sustainable fiscal path."
He reaffirmed his administration's commitment to strengthening local industries and positioning Nigeria as a leader in the African Continental Free Trade Area (AfCFTA), stressing that "Nigeria must not only participate in AfCFTA; we must lead it."
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LCCI President, Gabriel Idahosa, disclosed that the fair had already generated ₦250 million through construction and the employment of over 280 local artisans. He said this year's edition, themed "Connecting Businesses, Creating Value," features over 2,000 exhibitors and is expected to attract 500,000 visitors over 10 days.
Representing Lagos State Governor Babajide Sanwo-Olu, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, said Lagos was driving investment through infrastructure, industrial clusters, and digital systems, adding that the state will co-host the 2027 Intra-African Trade Fair with the Federal Government.
The Lagos International Trade Fair continues to serve as a platform for investment promotion, innovation, and regional trade, reinforcing Nigeria's growing status as an attractive destination for business and industrial collaboration.
