ACCI Hails Tinubu for Achieving Stable, Predictable Economic Environment

•Urges president to tackle insecurity, infrastructure, others

James Emejo in Abuja

President of Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, yesterday commended President Bola Tinubu’s Independence Day Address, stating that it underscored economic reforms, fiscal discipline, and renewed hope for inclusive growth.

Obegolu said the outlined achievements, including the surge in non-oil revenue, stabilisation of the naira, improved oil production, rising external reserves, and steady growth in trade surplus, signalled a more stable and predictable economic environment for businesses.

In a statement, Obegolu pointed out that Tinubu’s declaration that “the worst is over” was a welcome assurance to the business community, which had faced tough challenges in recent years.

He said, “For the business community, stability and predictability are the bedrock of investment decisions. The measures highlighted by Mr. President, particularly the reduction in debt service ratios, the clearing of Ways and Means advances, and renewed confidence in our sovereign ratings, are important indicators that Nigeria is on a more sustainable growth path.”

However, the ACCI president, who also doubles as leader of the Organised Private Sector (OPS) in the Federal Capital Territory (FCT) and its environs, stressed that more needed to be done to address the practical realities faced by enterprises, especially micro, small and medium enterprises (MSMEs).

He identified priority areas requiring urgent government attention.

According to him, many businesses still face prohibitive interest rates, despite recent monetary easing.

Obegolu added that special intervention funds and credit schemes targeted at MSMEs must be expanded.

He stressed that power supply remained inconsistent, raising production costs.

Obegolu urged the government to fast-track investments in energy, transport, and digital infrastructure.

He stated that while revenue mobilisation remained critical, multiple taxation and complex regulatory procedures continued to stifle businesses, adding that streamlined taxation and regulatory reforms are urgently needed.

The ACCI president also said persistent insecurity in parts of the country hampered trade and agriculture.

He said more decisive action was needed to secure supply routes and protect businesses.

He said, “Government has taken bold steps in stabilising the macroeconomic environment, but the business community needs complementary microeconomic interventions to ease the cost of doing business, enhance competitiveness, and unlock job creation.”

Nonetheless, Obegolu saluted the resilience of Nigerian entrepreneurs, assuring them that ACCI will intensify advocacy and partnership with government to ensure that reforms translated into tangible benefits for businesses and citizens alike.