ACCI to FG: Ensure tax reforms don’t kill businesses as Nigeria targets $1trn economy

By Abubakar Yunusa

The Abuja Chamber of Commerce and Industry (ACCI) has asked the federal government to ensure the new tax reforms do not kill businesses and discourage investments as Nigeria targets a $1 trillion economy.

Adesoji Adesugba, the first deputy president of the ACCI, spoke during a news conference yesterday to announce the 21st Abuja International Trade Fair (AITF).

Adesugba, also the chairman of the fair’s organising committee, described the country’s tax reforms as necessary but said the government must ensure they do not discourage investment and enterprise growth.

“One thing I can tell you is that tax reform for any country is highly welcome, especially for Nigeria. There are so many things that we needed to do right, and so many things that this new tax act is doing right,” he said.

“While the private sector must always have the responsibility of paying tax, the government must also ensure that the tax regime is not going to kill businesses.”

The ACCI executive advised the government to involve businesses in economic planning and policy implementation, noting that the private sector is critical to Nigeria’s $1 trillion economy target.

“The key to success for the one trillion economy that the government is planning for lies within the private sector,” Adesugba said.

“The government can come out with a plan. But the private sector should always be involved from the planning stage. Without the private sector, can you plan an economy? You can’t.”

He also called for improved access to finance for small and medium enterprises (SMEs), arguing that local businesses cannot compete globally while borrowing at high interest rates.

“Access to finance must be at single digit.” he said.

“Why is it single digit in China and we are having double digit here and want to compete with them?”

On the African Continental Free Trade Area (AfCFTA), Adesugba said African countries must address non-tariff barriers if the agreement is to achieve its objectives.

“If you have zero tariff and you don’t remove the non-tariff barriers, you’re wasting your time,” he said.

Announcing details of the forthcoming event, Adesugba said the 2026 Abuja International Trade Fair will hold from September 25 to October 6 at the ACCI Trade Fair Complex along Airport Road, Abuja.

According to the AITF chair, the fair will focus on trade promotion, taxation reforms, innovation, business-to-business engagements and policy advocacy.

He said the event is expected to host more than 500 exhibitors showcasing over 10,000 products and services, while attracting about 100,000 visitors from Nigeria and abroad.

The fair will also feature side attractions, including the maiden Miss AITF competition and BABAFest AITF Weekend 2026, a cultural and business showcase designed to promote African creativity, entrepreneurship and intra-African trade.

Also speaking, Ezekwesili Nnam, executive director of the Abuja Trade Centre, said organisers are strengthening security and publicity efforts ahead of the event.

“For security, if you remember last year, we had to increase the security presence around the premises,” Nnam said.

“We’re going to continue to do that.”

Nnam said several countries, including Tanzania, Ghana, Botswana, Malawi, China, and India have already indicated interest in participating in the trade fair.

On his part, Jideani Agabaidu, director-general of ACCI, said the trade fair had grown into one of Africa’s leading platforms for trade promotion, investment and regional economic cooperation.

“As we prepare for the 21st edition, we are not merely announcing another annual event. We are reaffirming our commitment to strengthening the private sector, creating business opportunities, and driving sustainable economic growth across Nigeria and the African continent,” Agabaidu said.

He added that the chamber would continue to advocate for policies that improve the ease of doing business, attract investment and enhance Nigeria’s competitiveness.