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LCCI STATEMENT ON SUBSIDY REMOVAL PROTEST
The Lagos Chamber of Commerce and Industry is particularly concerned by the call to arm by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) via ‘peaceful’ protests. The Chamber is reasonably worried the ‘peaceful’ protests being experienced as a result of the fuel subsidy removal may be taken advantage of by hoodlums and…
LCCI Statement on Downgrades of Nigeria’s Sovereign Risk Profile
The Lagos Chamber is gravely concerned about the recent downgrades of Nigeria’s Sovereign Risk profile by three leading global default risk rating agencies. Fitch downgraded Nigeria’s long-term foreign currency debt Issuer Default Rating (IDR) from ‘B’ to ‘B-, few notches above a junk status, following Moody’s lead in downgrading Nigeria’s risk outlook, and Standard and…
BEYOND THE NUMBERS: ENSURING REAL ECONOMIC RELIEF FOR NIGERIANS
The latest decision by the Monetary Policy Committee of the Central Bank of Nigeria (CBN) to maintain the Monetary Policy Rate (MPR) at 27.50% is well appreciated and taken as the beginning of a better deal for the business community regarding the cost of credit. In recent months, the rising and high interest rates have…
ADDRESS ON THE STATE OF THE ECONOMY BY THE PRESIDENT OF THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY, MR. GABRIEL IDAHOSA, FCA, HELD ON WEDNESDAY 23RD JULY 2025, AT THE COMMERCE HOUSE, VICTORIA ISLAND, LAGOS
Deputy President, LCCI Engr. Leye Kupoluyi Vice Presidents here present Director General, LCCI Dr. Chinyere Almona, FCA Distinguished Gentlemen of the Press, On behalf of the Lagos Chamber of Commerce and Industry, I extend warm compliments to you as we gather for this third press conference in 2025. Thank you again for joining us on…
LCCI STATEMENT ON 2026 BUDGET
FROM STABILITY TO SCALE: POWERING PRODUCTION, JOBS AND GROWTH IN 2026 The Lagos Chamber of Commerce and Industry (LCCI) appreciates the recent presentation of the 2026 budget before the end of 2025. We, however, cannot see the possibility of having a robust debate on the budget by the national Assembly and passing the Appropriation Act…
Comments On Monetary Policy Rate Communique
The Lagos Chamber of Commerce and Industry welcomes the decision by the Central Bank of Nigeria [CBN] to reduce the Monetary Policy Rate (MPR) by 50 basis points from 14% to 13.5 %. This is in consonance with the clamour by the private sector for a relaxation of the tight monetary policy regime in the…
