The Abuja Chamber of Commerce and Industry has called for sustained policy consistency, stronger protection for Micro, Small and Medium Enterprises and a private sector-led growth strategy to strengthen Nigeria’s economy in 2026.
The President of the Chamber, Chief Emeka Obegolu, made the call in a New Year message issued in Abuja through the ACCI Media and Strategy Officer, Mrs Olayemi John-Mensah. He said consistent and business-friendly policies remain critical to reducing the cost of doing business and achieving sustainable economic development.
Obegolu emphasised that MSMEs must be deliberately protected and supported, describing them as the backbone of the Nigerian economy and a key driver of employment and innovation. He noted that predictable reforms and sustained engagement with stakeholders would help restore confidence, attract investment and encourage business expansion across sectors.
He said the organised private sector remains cautiously optimistic about business prospects in 2026, despite prevailing global and domestic economic pressures. According to him, Nigerian businesses demonstrated resilience and adaptability in 2025, continuing to innovate and create value in the face of inflationary pressures and foreign exchange volatility.
The ACCI president identified high energy costs, rising interest rates and limited access to finance as major constraints confronting enterprises, particularly MSMEs. He said these challenges underscore the importance of chambers of commerce in advocating policies that promote stability, competitiveness and long-term growth.
Obegolu acknowledged that economic reforms are necessary but warned that they must be carefully sequenced and implemented to avoid unintended consequences for businesses. He cautioned that poorly managed reforms could trigger business closures, job losses and capital flight, further weakening the economy.
He also drew attention to more than N720 billion in outstanding contractor debts owed by government, noting that delays in settling verified obligations have strained cash flows and disrupted supply chains. According to him, indigenous contractors and MSMEs have been particularly affected, limiting their ability to sustain operations and invest in growth.
He urged the government to prioritize transparent verification processes and the timely settlement of outstanding debts as a way of injecting liquidity into the economy and stimulating business activity.
Obegolu further called on the Federal Government and the Federal Capital Territory Administration to deepen efforts at creating a more enabling and predictable business environment. He noted that Abuja has evolved into a major commercial and investment hub, requiring improved infrastructure, regulatory clarity and stronger institutional support.
He reaffirmed ACCI’s commitment to constructive engagement with government and other stakeholders to promote ease of doing business and inclusive economic growth. He also extended New Year greetings to Nigerians, particularly members of the business community in the Federal Capital Territory and its environs, expressing hope for a year marked by growth, innovation and broad-based economic progress.
