President Bola Tinubu has reiterated the federal government’s commitment to transforming Nigeria’s business environment and creating growth opportunities.
Speaking at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2025, held yesterday in Lagos, Tinubu assured entrepreneurs and investors that the government’s economic reforms aim to dismantle bureaucratic hurdles and streamline processes.
Representing the President, the minister of state for Industry, Sen. John Enoh, said that for too long, the business narrative in Nigeria has been a tale of immense potential hampered by challenging realities, of brilliant ideas and determined entrepreneurs navigating a maze of bureaucratic hurdles.
Tinubu stated that his commitment was straightforward, to create a fertile ground for businesses to sprout, to grow, and to flourish.
“An environment where their focus is on innovation, expansion, and creating value, not on navigating endless paperwork and red tape.
“The engine of our nation’s prosperity is an empowered private sector, not an empowered government, and these are not mere words. We have taken decisive and tangible steps to prove our resolve,” he said.
The President noted that the government has implemented over 180 concrete reforms through the Presidential Enabling Business Environment Council (PEBEC).
He said, “They had streamlined processes and dismantled bottlenecks that stifled growth for years.”
Tinubu said Nigeria was not just aiming for incremental improvements, but was rewiring the government’s architecture to serve the business community’s needs.
In his remarks, Enoh also said the federal government was working to make Nigeria more attractive for automotive investments.
He noted that backing and implementing the Nigerian Automotive Industrial Development Plan would spur more investments into the sector.
Enoh stated that the government had been engaging with industry players and was considering legislative backing to create a conducive environment for auto plants to set up and thrive in the country.
“We have the Nigerian Automotive Industrial Development Plan, and I can assure you that the government is making ongoing efforts to strengthen the automotive sector.
“We have been speaking with industrial players and listening to them.
We are also exploring legislation to make it possible and attractive for auto plants to come,” it was said.
LCCI president, Gabriel Idahosa, noted that the government had embarked on bold reforms to improve the country’s ease of doing business and modernise fiscal and monetary frameworks.
Idahosa said the conference’s goal was to unlock and deepen Nigeria’s boundless investment opportunities from energy to technology, manufacturing to agriculture and infrastructure to the creative economy.
“In a world where global capital is constantly seeking competitive, resilient, and high-growth destinations, we boldly declare today that Nigeria is open for business.
“Nigeria is ready for investment, and Nigeria is the future of Africa’s prosperity,” he said.
