The Abuja Chamber of Commerce and Industry (ACCI) has expressed optimism for significant business growth and economic development in 2025.

The ACCI president, Emeka Obegolu, made this statement on Wednesday while extending warm New Year greetings to Nigerians, particularly the business community in the Federal Capital Territory (FCT) and its environs.

Mr Obegolu, a Senior Advocate of Nigeria (SAN), lauded the resilience of the business community in overcoming the economic challenges of 2024.

He commended their commitment to innovation and growth, expressing hope for renewed opportunities in the New Year.

He called on governments at all levels to harmonise tax policies and address the challenges of multiple taxation and high operational costs.

He also urged the administration of President Bola Tinubu to prioritise improving the ease of doing business and Nigeria’s global competitiveness.

“Streamlining regulations, eliminating administrative bottlenecks, and implementing business-friendly policies are crucial steps.

“The government should also improve access to financing and establish a reliable database of active businesses to support micro, small, and medium enterprises (MSMEs), which play a vital role in the Nigerian economy,” Mr Obegolu said.

Mr Obegolu commended the N4.06 trillion allocation for infrastructure in the 2025 budget.

He noted its potential to boost productivity, create jobs, and foster economic growth in sectors such as transport, energy, and housing.

He welcomed the government’s macroeconomic stabilisation goals, including reducing inflation and stabilising the exchange rate, as crucial steps toward improving the business environment and attracting investment.

However, Mr Obegolu emphasised the importance of effective budget implementation, advising the government to adhere to timelines, ensure transparency, and adopt a results-driven approach to maximise the impact of allocated funds.

He also called for cautious revenue projections, improved collection mechanisms to reduce leakages, and the adoption of balanced tax policies that supported businesses.

The ACCI president reaffirmed the chamber’s commitment to collaborating with the government to align policies with business realities and promote private-sector-led growth.

He also advocated for increased investments in green initiatives and inclusive strategies to benefit rural and marginalised communities.

“On behalf of the executive council and members of ACCI, I wish Nigerians a prosperous and fulfilling 2025, filled with growth, innovation, and success,” he said. 

(NAN)