The 16th edition of the National Council on Industry, Trade and Investment (NCITI) commenced yesterday at the Balmoral Hall, Federal Palace Hotel, Lagos, with a renewed commitment to rebuilding Nigeria’s economy through accelerated diversification and strategic investments.
Held under the theme “Accelerating Diversification to Rebuild Prosperity by Leveraging Industry, Trade and Investment for Shared Prosperity,” the gathering brought together high-level representatives from the Federal and State Governments, the private sector, development partners, and industry stakeholders.
Day 1 of the Council set a clear tone for urgent and focused action. Deliberations centered on repositioning Nigeria’s industrial base, supporting micro, small and medium enterprises (MSMEs), unlocking investment opportunities, and fully harnessing regional trade prospects, particularly under the African Continental Free Trade Area (AfCFTA).
The Lagos State Government, host of this year’s edition, showcased its achievements in industrial development and reaffirmed its readiness to lead in the national economic transformation effort.
“This is not just a conversation—it’s a commitment. Lagos is fully aligned with the Federal Government’s agenda to drive inclusive growth through investment in industry and trade,” a state representative said during the opening session.
Stakeholders emphasized the need for coherence between policy and execution, noting that Nigeria’s path to prosperity must be built on coordinated, data-driven, and action-oriented strategies.
“We cannot afford to leave this Council with only communiqués. The time to act is now,” said one private sector participant. “Investors are watching, and our people are waiting for real change.”
Participants also called for improved regulatory frameworks, better infrastructure, and stronger collaboration between public and private institutions to stimulate job creation and economic resilience.
As technical sessions continue into Day 2, expectations are high that NCITI 2024 will deliver implementable resolutions that go beyond rhetoric and begin to lay the foundation for lasting economic reform.
The Council continues today with sector-specific breakout discussions and presentations aimed at translating ideas into action for sustainable growth and shared prosperity.
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