November 23, 2025
LAGOS — Nigeria’s Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, has declared that President Bola Tinubu’s bold economic reforms, including the removal of fuel subsidies and unification of exchange rates, are yielding tangible results, with the economy recording a 4.23% GDP growth in the third quarter of 2025.
Speaking on Saturday at the ongoing 2025 Lagos International Trade Fair, themed “Connecting Businesses, Creating Opportunities,” the Minister told investors and exhibitors that the reforms have restored macroeconomic stability, curbed arbitrage, attracted fresh capital inflows, and positioned Nigeria as Africa’s most attractive investment destination.
“The courageous decisions taken by President Tinubu—ending the petrol subsidy regime, harmonizing the exchange rate, and implementing far-reaching fiscal and monetary reforms—have begun to bear fruit. For the first time in years, Nigeria recorded a remarkable 4.23% GDP growth in Q3 2025, surpassing market expectations,” Uzoka-Anite stated during her address at the Tafawa Balewa Square venue.
She highlighted the rapid digital transformation of trade processes under the ministry, including the full migration of the Nigerian Trade Portal to a digital platform, real-time certificate of origin issuance, and the forthcoming launch of the National Single Window Project in 2026, which she said will slash trade compliance costs by over 35% and reduce cargo clearance time at ports from weeks to hours.
The 10-day Lagos International Trade Fair, organized by the Lagos Chamber of Commerce and Industry (LCCI), has drawn over 2,000 exhibitors from 23 countries and more than 500,000 visitors since opening on November 14. Domestic and foreign companies are showcasing everything from agro-processing machinery and renewable energy solutions to fintech innovations and consumer goods.
Uzoka-Anite used the platform to invite global investors to take advantage of the newly established Presidential Council on Industrial Revitalization, the $617 million Investment in Digital and Creative Enterprises (i-DICE) programme, and various sector-specific incentives in manufacturing, agro-industry, and the blue economy.
“Nigeria is open for business. The reforms have removed distortions that scared investors away for decades. Inflation is trending downward, forex reserves have risen to over $42 billion, and investor confidence is returning,” she added.
LCCI President Gabriel Idahosa commended the government’s efforts but urged faster implementation of infrastructure projects, especially power and port reforms, to sustain the momentum. “The growth numbers are encouraging, but businesses still grapple with high energy costs and logistics bottlenecks,” he noted.
The 2025 edition of the fair, the largest in West Africa, will close on November 24 with a grand finale featuring deals signing ceremonies and recognition of outstanding exhibitors.
Lagos Trade Fair 2025: Minister Uzoka-Anite Showcases Tinubu Reforms as Engine of 4.23% GDP Growth
By Clarion Business Desk
