Abuja:The Federal Government is advocating for trade fairs to evolve beyond mere exhibitions, facilitating significant transactions, partnerships, and market access for Nigerian businesses. Dr. Jumoke Oduwole, Minister of Industry Trade and Investment, emphasized this at the 21st Abuja International Trade Fair’s opening ceremony, organized by the Abuja Chamber of Commerce and Industry with the theme ‘Resilience, Trade, Taxation and the Economy.’
According to News Agency of Nigeria, Oduwole highlighted the importance of business resilience, which involves the ability to compete, adapt, invest, and expand into new markets despite changing conditions. She stressed that the success of trade fairs should be measured by the partnerships formed, contracts signed, and markets entered.
The Federal Government, under President Bola Tinubu’s Renewed Hope Agenda, aims to create an economy where enterprises can thrive, with the private sector as the growth engine. The government is committed to enhancing the business environment, infrastructure, and reducing trade barriers, collaborating with private and development partners to build a one-trillion-dollar economy.
Oduwole further stated that micro, small, and medium enterprises are central to the economic agenda, contributing significantly to production and employment. The government supports businesses in accessing finance, technology, and markets, leveraging opportunities like the African Continental Free Trade Area.
Chief Emeka Obegolu, ACCI President, noted that the fair is a platform for enterprise and innovation, attracting 500 exhibitors and nearly 100,000 visitors. Despite challenges like inflation and high costs, Nigerian businesses continue to innovate and explore new markets.
Mr. Jani Ibrahim, President of NACCIMA, highlighted the fair’s role in showcasing products and fostering partnerships. He pointed out the significant growth in Nigeria’s GDP and stressed that taxation should aid business growth. The trade fair provides a crucial opportunity for business and government engagements, aiming to strengthen Nigeria’s economic development.