The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to prioritise critical infrastructure development and create a more supportive business environment as Nigeria begins 2026. The organisation highlighted that improving power supply, transport networks and logistics would be essential to reducing costs and boosting the competitiveness of small and medium-sized enterprises (SMEs).
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Infrastructure as a cost-reduction strategy
In a statement titled “Beyond Stability: Making 2026 the Year of Inclusive Growth”, LCCI President Leye Kupoluyi stressed that reliable infrastructure would help businesses operate efficiently and lower operational expenses. He recommended public‑private partnerships as a key tool for developing power, transport and logistics systems to support both SMEs and larger enterprises.
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Coordinated economic policy
Kupoluyi also called for alignment between fiscal and monetary authorities to stabilise the economy. According to him, harmonising fiscal measures with monetary policy could gradually reduce interest rates, increase access to private sector credit, and stimulate investment. Effective policy coordination is seen as critical to fostering confidence among entrepreneurs and investors in 2026.
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Focus on agriculture and exports
The LCCI highlighted the importance of targeted support for the agribusiness sector, which remains a major contributor to Nigeria’s GDP. Better rural infrastructure, enhanced security and investment in supply chains are key to sustaining growth. Kupoluyi also urged measures to support non‑oil exporters, emphasising that a diversified export base would strengthen economic resilience.
Building foreign exchange confidence
Transparent, market-driven foreign exchange policies are critical for businesses that depend on cross-border trade. LCCI suggested reforms to instil investor trust and stabilise currency expectations, particularly for companies in the technology, manufacturing and agribusiness sectors.
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NECA backs new tax law implementation
Separately, the Nigeria Employers’ Consultative Association (NECA) endorsed the Federal Government’s commencement of the new tax law from January 1, 2026. NECA stated that clear and predictable tax policies would reduce operational uncertainty for businesses, particularly SMEs, and enhance compliance.
What it means the Nigerian business environment
As 2026 begins, business leaders are calling for a supportive policy environment that combines infrastructure improvements, transparent regulation, and SME-focused initiatives. Implementing these measures could address long-standing operational challenges and attract new investment to Nigeria’s private sector.
