Lagos Chamber of Commerce and Industry
How legitimate businesses paid huge cost for reduced cross-border smuggling
The Federal Government, through some of its agencies, have recorded some gains in the fight to curb smuggling across the country’s land borders, especially for commodities like rice and petrol. With this success comes a huge cost to the country and several businesses in terms of revenue loss.
Government extends border closure to 2020
Nigerians and their neighbours are to wait till January 2020 or beyond for the land borders to be reopened for businesses. The new development may have dashed the hopes of entrepreneurs in the West African region who were optimistic that the Federal Government would end the exercise before Christmas.
Lagos trade fair begins today amid border closure
The atmosphere of the Tafawa Balewa Square (TBS), Lagos, was different yesterday with last-minute preparations as the 31st edition of the Lagos International Trade Fair begins today. The fair, which is being promoted by the Lagos Chamber of Commerce and Industry (LCCI), will hold from November 1 to 10
LCCI, Oxford Group explore new measures to attract foreign investments
The Lagos Chamber of Commerce and Industry (LCCI), and the Oxford Business Group (OBG) have partnered to leverage the launch of a new report, Nigeria 2020, to attract foreign direct investments (FDIs) into the country.
Nigeria’s struggle to go beyond 4,000MW, decades after independence
Two years ago, the publisher of Cable newspaper, Simon Kolawole, recounted his experience of how he picked the May 30, 1988 edition of the Newswatch magazine with a story of how NEPA’s installed generation capacity stood at 4,000 megawatts in 1988.
Nigeria’s economy still imbalance, weak in inclusion at 59
Despite the government’s diversification agenda and push for non-oil sector growth, members of the Organised Private Sector (OPS) have described the mounting imbalance in the structure of the economy since independence, as underscoring the growing decline in the non-oil sector productivity.
‘Non-oil export at stake over continued border closure’
Members of the Organised Private Sector (OPS), including manufacturers and the Lagos Chamber of Commerce and Industry (LCCI), have decried continued closure of the nation’s border for a drill, citing that goods meant for export to other regional markets were trapped on the corridor.
‘Prolonged constitution of cabinet, insecurity fuelling economic uncertainty, stalling investments’
Prolonged delay in having a cabinet in place is fuelling economic uncertainty and may undermine the confidence of investors, even as increasing wave of insecurity continues to stall new investments, the Lagos Chamber of Commerce and Industry (LCCI), has said. Besides, the Chamber urged the Buhari administration to appoint a Minister of Petroleum…
Activate safeguards after AfCFTA ratification, operators tell FG
The Lagos Chamber of Commerce and Industry (LCCI), has advocated necessary safeguards, systems, soft and hard infrastructure, including viable ICT policies must be activated to maximise the potential benefits of the African Continental Free Trade Area (AfCFTA), following Federal Government’s resolve to sign the deal. The Nigerian Association of Chambers of Commerce, Industry, Mines and…
Another four years of hope for stable oil prices
Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, was quoted two years ago to have said he would resign if Nigeria continued to import fuel by 2019. His 2019 projection was hinged on the proposed completion of Dangote’s refinery at the time. Despite sustaining the flow of products with minor issues in the last…
Again, LCCI calls for auto policy review, tax cut
The Lagos Chamber of Commerce and Industry (LCCI), has called for the immediate review of Nigeria’s automotive policy in line with its limitations to drive investments, development, create jobs, and boost the economy. It noted that the policy initiated by former President Goodluck Jonathan’s administration in 2013, not only failed to achieve the desired result,…
One year after, AfCFTA seeks last ratification to kick off agreement
A year after the agreement establishing the African Continental Free Trade Agreement (AfCFTA) was presented for signature, along with the Kigali Declaration and the Protocol on Free Movement of Persons, Right to Residence and Right to Establishment, implementation of the agreement remains delayed over the inability to achieve required number of ratifications. Twenty-two (22) ratifications…