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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and the Lagos Chamber of Commerce and Industry (LCCI), have stated that the annual Lagos International Trade Fair (LITF) is a potential platform to prepare Nigerian businesses to harness the African Continental Free Trade Area (AfCFTA) opportunities to contribute to a collective market with the potential to expand the size of Africa’s economy to $29 trillion by 2050.
The two key chambers, which made up the Organised Private Sector (OPS), dropped this hint at the opening ceremony of the 38th International Trade Fair (LITF) in Lagos, yesterday.
The National President of NACCIMA, Mr. Kevin Oye, in his opening speech at the trade fair yesterday, said that the landmark event was now a significant highlight in the country’s national calendar to become a premier platform that showcases the best of Nigerian enterprise, while also, fostering new avenues for trade and investment across borders.
Oye, who was represented at the event by the Director-General of NACCIMA, Mr. Sola Obadimu explained that, “This Fair exemplifies that vision by offering a platform where businesses, from large enterprises to emerging startups, can connect, exchange ideas, and forge new pathways to success.
“By engaging in trade, sharing innovations, and exploring joint ventures, we will not only expand our own reach, but also strengthen Nigeria’s economic landscape and influence across Africa and beyond.”
Similarly, the President/Chairman of Council, LCCI, Mr. Gabriel Idahosa, in his opening speech at the occasion, disclosed that the trade fair theme, “Connecting Businesses, Creating Value,” marked yet another remarkable milestone in Nigeria’s collective journey to foster economic cooperation, strengthen industry networks, and enhance business connectivity within Nigeria and beyond.
He said: “This year’s fair holds special significance as Nigeria navigates an era of economic adjustment marked by challenges and opportunities. “From the disrupting pressures of inflation rates to a volatile foreign exchange market, our economy has faced complex policy options that have pushed businesses across all sectors to build resilience, innovate, and build collaborative networks for survival.”
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