Tinubu: Nigeria Must Stop Trading Without Producing, Build Export-driven Economy
Dike Onwuamaeze President Bola Ahmed Tinubu has stated that Nigeria’s trade and industrial policies were designed to reverse the trend whereby the country’s participation in international trade is characterised by
President Bola Ahmed Tinubu has emphasized that Nigeria's trade and industrial policies aim to stop trading without production and build an export-driven economy. At the official opening ceremony of the 40th edition of the Lagos International Trade Fair (LAIF), Tinubu and the Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, explained that true growth comes when goods are made locally, added value is created, and jobs are generated.
The President stressed that industrial policy and trade policy are two halves of one strategy, and neither can succeed without the other. He highlighted the importance of industrial parks and special economic zones in serving Nigeria's export corridors, enabling the country to bargain for sectors like textiles, automotive parts, pharmaceuticals, and creative industries during negotiations within the African Continental Free Trade Area.
The Lagos Chamber of Commerce and Industry (LCCI) welcomed over 1,000 exhibitors to the fair, promoting commercial relationships, stronger enterprises, and lasting economic value. Zenith Bank Plc, the official banker of the fair, praised Nigerian enterprise and the small and medium-sized businesses driving the economy. The African Export and Import Bank (AFREXIMBANK) commended the LCCI for sustaining the trade fair for 40 years and expressed its commitment to advancing Africa's trade agenda.
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