ACCI President Felicitates Nigerians at 65th Independence Anniversary, Commends Tinubu’s Economic Reform Agenda

The President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, SAN, PhD, on behalf of the Executive Council and members of the Chamber, has congratulated Nigerians on the occasion of the nation’s 65th Independence Anniversary.

In a statement issued in Abuja, Chief Obegolu hailed the resilience of Nigerians and commended President Bola Ahmed Tinubu for his Independence Day Address, which highlighted economic reforms, fiscal discipline, and renewed hope for inclusive growth.

He described the President’s assurance that “the worst is over” as encouraging for the business community, which has endured significant challenges in recent years. According to him, the administration’s achievements—such as the rise in non-oil revenue, stabilization of the naira, improved oil production, growth in external reserves, and steady trade surplus—are indicators of a more stable and predictable economic environment.

“For the business community, stability and predictability are the foundation of investment decisions. The measures outlined by Mr. President, particularly the reduction in debt service ratios, clearance of Ways and Means advances, and renewed confidence in sovereign ratings, are important signals that Nigeria is on a sustainable growth trajectory,” he said.

Chief Obegolu, who also serves as leader of the Organised Private Sector (OPS) in the Federal Capital Territory and surrounding areas, however stressed that more practical support is needed for enterprises, especially micro, small, and medium enterprises (MSMEs). He identified four urgent areas of concern:

Access to Affordable Finance: Despite recent monetary easing, many businesses still face high interest rates. Intervention funds and credit schemes for MSMEs should be scaled up.

Infrastructure Deficits: Unreliable power supply continues to raise production costs. Fast-tracked investments in energy, transport, and digital infrastructure are needed.

Tax and Regulatory Burden: Multiple taxation and cumbersome regulations hinder business operations. Streamlined and simplified systems are critical.

Security and Supply Chains: Insecurity disrupts trade and agriculture in some regions. Stronger action is required to secure supply routes and protect businesses.

“While government has made commendable progress in stabilizing the macroeconomic environment, the business sector requires complementary microeconomic interventions to reduce the cost of doing business, boost competitiveness, and generate jobs,” he emphasized.

Chief Obegolu concluded by saluting the resilience of Nigerian entrepreneurs, reaffirming that ACCI will continue to champion advocacy and strengthen partnerships with government to ensure that reforms yield tangible benefits for both businesses and citizens.