The Lagos Chamber of Commerce and Industry (LCCI) has called on Nigerian businesses to embed innovation and resilience in their operations as key strategies for survival and growth in the face of persistent economic challenges confronting the country.

This charge was made at the LCCI Members’ Day 2025 celebration held in Lagos.

LCCI President, Gabriel Idahosa, described the gathering as more than a ceremony. He said it symbolised a moment of transformation and collective enterprise for the organised private sector. 

Represented by the Deputy President, Leye Kupoluyi, he noted that while Nigerian businesses continued to face currency instability, inflation, energy insecurity and supply chain disruptions, the private sector has remained resilient and dynamic, adapting through innovation and reengineering.

Idahosa said 58 per cent of Nigerian MSMEs have adopted innovations in operations, ranging from digitising sales and payments to reworking supply chains.

He also highlighted findings from the 2024 Mastercard Digital Economy Index, which showed that Nigeria leads sub-Saharan Africa in SME digital payment adoption, with over 38 per cent of SMEs now accepting online and mobile payments.

Reaffirming their commitment to providing a platform for growth, he emphasised the Chamber’s role in policy advocacy, business support and promoting meaningful partnerships.

He urged members to rethink their business models, embrace digitisation, diversify markets, and actively collaborate. “Let us not rely on yesterday’s tools for today’s challenges. Let us lead with clarity, courage, creativity, and community,” he said.

Delivering the keynote, Minister of Innovation, Science and Technology, Uche Geoffrey Nnaji, underscored the federal government’s ongoing efforts to convert scientific potential into economic value. Nnaji, who was represented by the Ministry’s Director of ICT, Okoro Ikechukwu Michael,  explained that the Ministry is driving digital transformation across sectors such as agriculture, energy, and manufacturing, and implementing policies to enhance local content and support industrial research and development.

According to him, through initiatives like Project Green, the country has attracted over €7.9 billion in foreign investments into the green hydrogen and methanol sector. He also revealed that over 50,000 Nigerians are being equipped annually with future-ready skills through the Ministry’s strategic programmes, including the AI Innovation Centres, the Renewable Energy Access Programme (SEAP), and the Barefoot Renewable Energy College.

These programmes, he noted, are designed not just for capacity building but to accelerate Nigeria’s transition into a tech-enabled, climate-responsible, and innovation-driven economy.