The Monetary Policy Committee (MPC) of the CBN, in its May 2023 Meeting, again hiked the benchmark interest rate by 50 basis points to 18.5% from 18.0%. It, however, retained the asymmetric corridor at +100 and -700 basis points around the policy rate. Cash Reserve Ratio (CRR) and Liquidity Ratio (LR) remain at 32.5% and…
The Lagos Chamber of Commerce and Industry (LCCI), on behalf of the Organised Private Sector, congratulates the President-elect Asiwaju Bola Ahmed Tinubu on the forthcoming inauguration. The LCCI hopes the new administration will focus on issues of immediate and critical importance to the business environment and the overall economy. The present tenuous and fragile business…
With a few days to the inauguration of Dangote Refinery, the Lagos Chamber of Commerce and Industry wishes to commend the efforts of its visioner, Alhaji Aliko Dangote, and the supportive Federal Government. Expected to be Africa’s biggest oil refinery and the world’s single-trained facility, the Dangote Refinery has a capacity of 650,000 barrels per…
