LCCI STATEMENT ON THE NEED TO SUPPORT STRATEGIC INDUSTRIES

LCCI STATEMENT ON THE NEED TO SUPPORT STRATEGIC INDUSTRIES

Considering the current economic challenges facing the Nigerian economy, the Chamber urges the Federal Government to provide special support mechanisms to strategic companies and industries that play critical roles in achieving inclusive economic growth. The major recent improvements recorded in Nigeria’s economy could be attributed to the game-changing interventions of key players in the private…

LASU GIVES LCCI APPROVAL TO COMMENCE PG STUDIES

LASU GIVES LCCI APPROVAL TO COMMENCE PG STUDIES

The Lagos Chamber of Commerce and Industry (LCCI) has received the approval of the Lagos State University (LASU) to commence Postgraduate programmes in Entrepreneurship. This approval will see LCCI and LASU collaborate to offer to the public Postgraduate Diploma (PGD), Masters and Doctorate programmes in Entrepreneurship. It will provide students with an in-depth understanding of…

LCCI STATEMENT ON THE RISING COST OF DOING BUSINESS IN NIGERIA.

LCCI STATEMENT ON THE RISING COST OF DOING BUSINESS IN NIGERIA.

The Lagos Chamber of Commerce & Industry (LCCI) wishes to express grave concerns over the recent decision by the Central Bank of Nigeria (CBN) to hike the Monetary Policy Rate (MPR) from 22.75 percent to 24.75 percent. In the same vein, we view the recent hike in electricity tariff as making the cost of living…

LCCI COMMENDS FG’S STANCE ON COST OF GOVERNANCE

LCCI COMMENDS FG’S STANCE ON COST OF GOVERNANCE

The Lagos Chamber of Commerce and Industry (LCCI) is pleased to acknowledge the recent actions taken by the Federal Government to cut the cost of governance in Nigeria. We particularly commend the government’s decision to reduce the number of public officials on foreign trips and the recent directive to suspend all public-funded foreign trips for…

 LCCI CONCERNS OVER THE RISING INFLATION

 LCCI CONCERNS OVER THE RISING INFLATION

The Lagos Chamber of Commerce and Industry (LCCI) is gravely concerned about the persistent rise in inflationary pressures in the Nigerian economy. Recent data released by NBS indicates a worrying trend, with the headline inflation rate reaching 31.70% in February 2024, marking a significant increase from the previous month’s rate of 29.90%. The seemingly ineffective…

LCCI COMMENDS FEDERAL GOVERNMENT’S SUSPENSION OF EXPATRIATE EMPLOYMENT LEVY

LCCI COMMENDS FEDERAL GOVERNMENT’S SUSPENSION OF EXPATRIATE EMPLOYMENT LEVY

The Lagos Chamber of Commerce and Industry (LCCI) commends the recent decision by the Federal Government of Nigeria to suspend the controversial Expatriate Employment Levy. This move demonstrates a proactive stance by the government in responding to the concerns of the business community and fostering a conducive environment for economic growth and development which the…

LCCI PERSPECTIVES ON NIGERIA’S EXPATRIATE EMPLOYMENT LEVY

LCCI PERSPECTIVES ON NIGERIA’S EXPATRIATE EMPLOYMENT LEVY

Lagos Chamber of Commerce and Industry (LCCI) acknowledges the recent introduction of the Expatriate Employment Levy (EEL) by the Federal Government. The policy aims to address wage gaps between expatriates and the Nigerian Labor force while encouraging skills transfer and the employment of qualified Nigerians in foreign-owned companies. LCCI recognizes the need for a balanced…

LCCI STATEMENT ON THE MPC DECISIONS ON MONETARY POLICY RATE

LCCI STATEMENT ON THE MPC DECISIONS ON MONETARY POLICY RATE

The Lagos Chamber of Commerce and Industry (LCCI) acknowledges the recent decision of the Central Bank of Nigeria (CBN) to raise the benchmark lending rate by 400 basis points to 22.75%, in what has been described as an aggressive regulatory intervention. The move comes at a crucial time for the Nigerian economy, facing challenges such…

LCCI’S STATEMENT ON THE INCESSANT INCREASE OF THE CUSTOMS DUTY RATE

LCCI’S STATEMENT ON THE INCESSANT INCREASE OF THE CUSTOMS DUTY RATE

The Customs Duty Rate, being the rate with which Customs evaluate imports to arrive at duties to pay, is normally affected by the prevalent exchange rates against the Naira. In recent weeks, we have seen the Naira suffer a hit against the major currencies, falling to as low as N1,900 against the Dollar and N2,250…