Lagos Chamber of Commerce and Industry (LCCI) has voiced its concerns about policy consistency and the reforms driven by federal government.
Gatekeepers News reliefs that LCCI did this in a statement released by its Director-General, Dr Chinyere Almona on Thursday in Lagos, in reaction to President Bola Ahmed Tinubu’s New Year speech.
President had highlighted critical themes relevant to achieving the nation’s economic goals. He pledged to make the country more relevant in the global economy through more collaborations with international community and improve the business environment for the private sector to thrive in 2025.
The chamber commended President Tinubu’s New Year address, acknowledging his thoughtful and optimistic message.
It however urged federal government to ensure policy consistency and implement economic reforms to achieve the nation’s one trillion-dollar economy goal.
LCCI highlighted the need for the government to address pressing economic challenges, including high inflation, high interest rates, business shutdowns, and job losses.
The Chamber also urged FG to resolve persistent challenges facing power supply, national security, and food production in the country.
According to LCCI; the National Credit Guarantee Company announcement by the President represented a critical step toward unlocking access to credit, particularly for women, youth, and small-scale enterprises.
It added that if the scheme is implemented effectively and efficiently, it could boost demand for goods from agro-producers and industries; improving capacity utilisation of manufacturers and job creation.
LCCI however stressed the need for swift operationalisation and a transparent framework to avoid bureaucratic bottlenecks.
It also highlighted the importance of creating an enabling business environment, attracting Foreign Direct Investments, and boosting non-oil exports. Critical investments in telecommunications and infrastructure for digital transformation and energy transition were also highlighted as essential.
The Chamber commended Tinubu’s focus on ethical citizenship and shared values, emphasizing the role of social cohesion in nation-building.
It also underscored the importance of the rule of law in guaranteeing human rights protection and ensuring justice and fairness in a democratic state.
LCCI urged the government to institute a culture of avoiding controversies and uncertainties by charting a sure path for policies, regulations, and budget implementation.
The chamber said though the budget assumptions are ambitious, consistent efforts are needed to drive the economic agenda towards set goals.
