The President, Abuja Chamber of Commerce and Industry (ACCI) Chief Emeka Obegolu has urged the Federal Government to create policies that will support and encourage production, reward innovation, simplify compliance and make enterprise more competitive.
Obegolu stated this at the opening ceremony of the 21st Abuja International Trade fair, AITF in Abuja, with the theme: ‘Resilience: Trade, Taxation and the Economy’. He said the theme speaks directly to the realities of the time, while noting that no matter how resilient, it should not mean that businesses are left to bear every burden alone.
He said: ‘Today marks more than the commencement of a trade exhibition; it is a celebration of enterprise, innovation, productivity, and the enduring resilience of Nigerian businesses.’
Over the years, the Abuja International Trade Fair has evolved into a leading platform where businesses meet markets, products meet consumers, ideas attract investment, and entrepreneurs discover opportunities for growth and expansion.
‘This 21st edition reflects the confidence that exhibitors, investors, institutions, and visitors continue to place in the AITF as a marketplace for trade, investment, partnerships, and national development. Nigerian businesses continue to operate in an environment marked by inflationary pressures, exchange-rate volatility, infrastructure gaps, changing consumer behaviour, high operating costs, and evolving tax and regulatory requirements. Yet, in spite of these challenges,
‘Again, our entrepreneurs, manufacturers, farmers, service providers, and innovators have continued to adapt, invest, create jobs, and explore new markets. Their determination demonstrates that the Nigerian private sector remains a vital pillar of our national economy. AITF is designed to create the commercial linkages that businesses need to thrive.
‘This edition will bring together over 500 exhibitors, showcase more than 10,000 products, services and solutions, and attract close to 100,000 visitors over its 12-day duration. The Fair will provide opportunities for business-to-business and business-to-government engagements, product exhibitions, investment networking, policy dialogue, fashion and creative displays, cultural activities and consumer interaction.’
He added that Nigeria needs a business environment that enables enterprises to grow, invest and create jobs. A sound tax system must generate the revenue required for public services and national development. However, it must equally be fair, predictable, transparent and growth-oriented. This should expand the tax base by supporting more businesses to formalise and prosper, rather than imposing burdens that weaken already fragile enterprises.