President Bola Ahmed Tinubu, yesterday, said his administration has taken decisive steps to dismantle years of bureaucratic bottlenecks hampering enterprise in Nigeria, assuring both local and foreign investors that the country is firmly open for business.

Tinubu, who was represented by Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2025 held in Lagos, said government reforms are deliberately designed to rewrite Nigeria’s economic narrative from one of obstacles to that of opportunities.

Through the Presidential Enabling Business Environment Council, he said, over 180 reforms have been implemented, digitising and streamlining key procedures to reduce the time and cost of doing business.

He added that the government has introduced significant tax reforms to make the system transparent and equitable, with exemptions provided for small companies, while the Nigeria First Policy mandates the government to patronise locally-made goods and services.

“Nigeria is open for business. We value your partnership and are committed to protecting your investments and ensuring a stable and predictable environment,” Tinubu declared.

He explained that his administration would invest heavily in infrastructure projects that would serve as the backbone of commerce, citing the Lagos–Calabar Coastal Highway, the Second Niger Bridge and the Trans-Saharan Highway as examples of roads that would open markets and link communities to global trade.

Beyond physical projects, he said, the government is embracing technology to foster a vibrant digital economy, making innovation and transparency central to public and private sector growth.

Tinubu acknowledged that challenges remain, including foreign exchange volatility, but said reforms already undertaken are creating a more transparent and efficient system. He reaffirmed his belief that the real engine of prosperity is an empowered private sector, not one weighed down by bureaucracy.

“We are confronting these challenges with courage, determination and a clear vision for the future,” he said, assuring that Nigeria would emerge as a global hub of investment and innovation.

Minister of Regional Development, Abubakar Momoh, said reforms under the current administration have already grown Nigeria’s GDP from N269.9 trillion in May 2023 to N372.8 trillion as of August 2025.

He noted Nigeria offers one of the most competitive incentive regimes in Africa, with tax holidays, research and development allowances, export expansion grants and more than 30 free trade zones across the country.

Momoh emphasised that every region of Nigeria has unique investment potential, from agriculture and solid minerals in the north to energy and digital innovation in the south.

He said the government is also investing in regional infrastructure, including the Lagos–Calabar Coastal Highway and other major road projects, to unlock opportunities nationwide.

The minister stressed that incentives alone cannot guarantee investor confidence without strong institutions, which is why the government has intensified reforms to cut red tape and improve transparency.