The Lagos Chamber of Commerce and Industry (LCCI) is delighted to announce its partnership with African Export-Import Bank (Afreximbank), which supported the participation of selected and trained Nigerian SMEs at the Intra-African Trade Fair (IATF2025) held in Algiers, Algeria, from 4 to 10 September. This strategic initiative provided Nigerian entrepreneurs with an unparalleled platform to…
As Nigeria celebrates 65 years of independence, the Lagos Chamber of Commerce and Industry (LCCI) extends warm felicitations to the government and people of Nigeria. This milestone offers not only a moment of celebration but also a sober reflection on the state of our economy, the business environment, and the need for sustained reforms required…
The Lagos Chamber of Commerce and Industry (LCCI) notes with concern that the Nigeria Customs Service (NCS) continues to enforce the 4 percent Free-on-Board (FOB) levy despite the Honourable Minister of Finance’s formal directive suspending it. The Customs has cited Section 18(1)(a) of the NCS Act 2023 as the basis for the levy. While we…
INFLATION DRIVERS: FOREX STABILITY, SUPPLY CHAINS & INTEREST RATES The Lagos Chamber of Commerce and Industry (LCCI) acknowledges the recent moderation in Nigeria’s Consumer Price Index (CPI), with inflation easing for the fifth consecutive month to 20.12% in August 2025. While this is a welcome development, the current inflation level remains uncomfortably high. It is…
The Lagos Chamber of Commerce and Industry (LCCI) applauds the selection of Lagos as the host city for the Intra-African Trade Fair (IATF) 2027 by the African Export-Import (AFREXIM) Bank, in collaboration with the Federal Ministry of Industry, Trade and Investment. Hosting IATF 2027 presents a historic opportunity for Nigeria. It will expand the country’s…
The Lagos Chamber of Commerce & Industry wishes to acknowledge and commend the Federal Government on the outcomes of President Bola Ahmed Tinubu’s recent diplomatic missions to Brazil and Japan. Considering the persistent tariff tensions worldwide, these can be described as “new trade opportunities worth exploring” as Nigeria strives to push trade to new frontiers….
The Lagos Chamber of Commerce and Industry (LCCI) notes with mixed feelings the latest data from the National Bureau of Statistics (NBS) on inflation and capital importation. While headline inflation has eased for the fourth consecutive month and capital inflows rose significantly in Q1 2025, the details reveal persisting structural weaknesses that continue to weigh…
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…
As the Central Bank of Nigeria’s Monetary Policy Committee (MPC) convenes for its scheduled third meeting in 2025, the Lagos Chamber of Commerce and Industry (LCCI) wishes to provide some perspectives of the private sector for the consideration of the Committee. While we appreciate that the current reforms may have started to have some impact…
The Lagos Chamber of Commerce and Industry (LCCI) extends its deepest condolences to the family of former President Muhammadu Buhari, the Government of the Federal Republic of Nigeria, and all Nigerians on his passing. As a statesman who led the country from 2015 to 2023, President Buhari leaves a legacy defined by a deep commitment…