By Mercy Peter
The Abuja Chamber of Commerce and Industry (ACCI) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have called for a predictable and business-friendly tax regime, improved infrastructure and access to affordable financing to strengthen Nigerian enterprises and stimulate economic growth.
The two business organisations made the call at the opening of the 21st Abuja International Trade Fair (AITF), stressing that businesses needed supportive policies to overcome rising operating costs, expand production, attract investment and create jobs.
The trade fair, themed “Resilience: Trade, Taxation and the Economy,” is scheduled to run from September 25 to October 6, 2026, with more than 500 exhibitors, over 10,000 products and services, and approximately 100,000 visitors expected.
President of ACCI, Chief Emeka Obegolu, said the ability of Nigerian businesses to withstand economic pressures must be supported by deliberate government policies that encourage production, reward innovation, simplify compliance and improve competitiveness.
He identified multiple taxation, infrastructure deficits, limited access to affordable finance, inflation, exchange-rate volatility and high operating costs as major challenges confronting enterprises.
“Resilience should not mean that businesses are left alone to pay every bill. It must be supported by policies that encourage production, reward innovation, simplify compliance and make enterprise more competitive,” Obegolu said.
He called for sustained consultation between the government and the organised private sector to address the challenges, noting that a more supportive business environment would enable companies to invest, increase output, expand into new markets and employ more Nigerians.
The ACCI president also urged the government to strengthen support for local manufacturing and export-oriented businesses, arguing that improved productive capacity would enhance the country’s competitiveness and expand economic opportunities.
According to him, stronger business activity would ultimately benefit the government through increased employment, greater productivity and a broader revenue base.
Obegolu encouraged exhibitors to use the trade fair to secure customers, establish strategic partnerships, attract investors and explore business opportunities within Nigeria, Africa and the wider global market.
He also urged international partners and members of the diplomatic community to consider Nigeria not only as a large consumer market but as a destination for production, investment and regional trade.
Obegolu identified the African Continental Free Trade Area (AfCFTA) as an opportunity for Nigerian businesses to expand their reach across African markets, stressing the importance of strengthening domestic production to take advantage of the agreement.
Similarly, NACCIMA called for a tax system that balances the government’s revenue requirements with the need to sustain business growth, investment and economic competitiveness.
The association’s president, Engr. Jani Ibrahim, was represented at the event by its Director-General, Dr Emmanuel Akeh, who commended ACCI for sustaining the annual exhibition as a platform for showcasing products, developing partnerships, assessing markets and engaging policymakers.
Akeh said the theme of the fair reflected the pressures facing businesses, including changing market conditions, rising costs, evolving tax obligations, technological disruption and increasing global competition.
Citing National Bureau of Statistics data, he said Nigeria’s real Gross Domestic Product grew by 3.89 per cent year-on-year in the first quarter of 2026, with the non-oil sector accounting for 96.08 per cent of real GDP.
He added that manufacturing grew by 3.29 per cent, while the trade sector recorded growth of 2.08 per cent during the period.
However, Akeh said headline economic growth figures should be considered alongside the actual conditions facing businesses, including their ability to survive, expand operations, attract investment and compete in domestic and international markets.
On taxation, he acknowledged the government’s need for sustainable domestic revenue to fund infrastructure and public services but maintained that tax administration must be transparent, predictable and efficient.
He warned that administrative complexities and multiple taxation could place additional pressure on businesses, particularly smaller enterprises seeking to formalise their operations and expand their activities.
“The objective should be to grow the tax base through productive economic activity while creating an environment where businesses are encouraged to formalise, invest and grow,” Akeh said.
He further called for targeted measures to strengthen Micro, Small and Medium Enterprises (MSMEs) through improved access to affordable finance, infrastructure, technology, skills development, business development services and market information.
The NACCIMA director-general stressed that stronger collaboration between government and the private sector remained essential to achieving sustainable enterprise growth and employment generation.
