40th Lagos International Trade Fair opens as Tinubu vows to turn stability into prosperity

The 40th Lagos International Trade Fair opened at the weekend at Tafawa Balewa Square in Lagos, organised by the Lagos Chamber of Commerce and Industry (LCCI). President Bola Tinubu said Nigeria's next economic priority is to translate the gains of ongoing reforms into prosperity through enterprise, industrial growth and expanded trade. Tinubu was represented at the opening by the Minister of State for Industry, Senator John Enoh.

Reserves at $55 billion, inflation down to 14.63%

In his address, Tinubu cited the administration's economic record: Nigeria's gross external reserves rose to approximately $55.07 billion in October 2026, the highest level in 18 years, while net reserves exceeded $40 billion, up from less than $4 billion in 2023. Inflation declined to 14.63 per cent in September 2026, while the economy grew by 4.43 per cent in the second quarter. He said the figures were evidence of improving economic fundamentals, adding that the focus must now shift to stimulating production, creating jobs and expanding business opportunities.

Exhibitors from more than 20 countries; Nigeria to host Intra-African Trade Fair in 2027

The fair welcomed exhibitors from more than 20 countries. Tinubu also announced that Nigeria would host the Intra-African Trade Fair for the first time in 2027, in partnership with Afreximbank.