Press Release

LCCI COMMENDS SETTING UP OF THE ECONOMIC ADVISORY COUNCIL (LCCI)

The Lagos chamber of Commerce and Industry (LCCI) commends the setting up of the Economic Advisory Council by President Muhammadu Buhari, GCFR. This is a welcome development which will help to give the desired direction to the nation’s economic management. The stature, pedigree and the independence of the members of the council are clearly not…

Press Release

LCCI, ICRC PARTNER TO DEEPEN SOCIAL INVESTMENT IN AFRICA

LCCI, ICRC PARTNER TO DEEPEN SOCIAL INVESTMENT IN AFRICA 11 September, 2019; Lagos, Nigeria: The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organized private sector (OPS) in Nigeria is in collaboration with the International Committee of the Red Cross to hold a Sensitization Forum…

Press Release

COMMENTS ON THE CENTRAL BANK POLICY ON MILK IMPORTATION

The commitment of the CBN to the backward integration agenda of the Federal Government is laudable. However, it is important that in seeking to achieve this objective, the sequencing and strategy must be right. The policy will do more harm than good, both to investors and the citizens. It would trigger avoidable disruptions and dislocations…

Press Release

LCCI COMMENTS ON CBN LENDING POLICY

THE NEW LENDING POLICY OF THE CBN The new lending policy for deposit money banks which prescribes a minimum Loan Deposit Ratio of 60%, effective 30th September 2019 is a move in the right direction. The focus of the policy on SMEs, Retail, Mortgage and consumer lending under the proposed lending regime is laudable. The…

Press Release

Agenda for Economic Diversification

Three critical factors are crucial to drive economic diversification in the Nigerian economy. These are the quality of infrastructure, the quality of policies and the quality of institutions. It is crucial to get these key parameters right. It is equally critical to ensure proper alignment among these key variables to ensure sustainable economic diversification. The…

Press Release

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…

Press Release

Special Press Briefing On The Agenda For The New Government By The President of LCCI, Mr. Babatunde Paul Ruwase, FCA held on 5th March 2019

INTRODUCTION I welcome you all to this special press briefing which is to set an agenda for the administration of President Muhammed Buhari, GCFR in his second term. The past few months have been characterized by uncertainty which had affected investors confidence and caused a deceleration in the tempo of economic activities. Investors were worried…