On 21 February 2025, the Lagos Chamber of Commerce & Industry (LCCI) hosted the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, on a courtesy visit to discuss opportunities and challenges around trade and investment in Nigeria. The engagement provided a platform for constructive dialogue on critical issues such as policy instability and…
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…
Telecom services have become a critical part of our lifestyle and business; however, the telcos must remain competitive to deliver the best quality of services to businesses that can leverage technology to save some costs. In Nigeria, the current operating environment in the telecommunications sector has become too expensive for the telcos to operate profitably….
Lagos Chamber of Commerce and Industry (LCCI) extends its warm regards to all Nigerians and wishes to acknowledge the President’s thoughtful and optimistic New Year address. The President highlighted critical themes relevant to achieving the nation’s economic goals, becoming more relevant in the global economy through more collaborations with the international community, and improving our…
The Lagos Chamber of Commerce & Industry (LCCI), the voice of businesses in Nigeria, extends warm New Year greetings to all Nigerians, the Federal Government, and stakeholders in the private and public sectors. The LCCI acknowledges and commends the resilience and tenacity of the Nigerian people and business community in navigating the economic challenges of…
The Lagos Chamber of Commerce and Industry (LCCI) commends the robust plans of the Federal Government as presented through the 2025 Budget, aptly themed the “Budget of Restoration: Securing Peace, Rebuilding Prosperity.” The Chamber also notes the attention on key priorities, including security, infrastructure, education, health, and agriculture, focusing on achieving macroeconomic stability and inclusive…
The persistent rise in the inflation rate, reaching a 28-year record high of 34.60 in November, continues to fuel a tense business environment as elevated prices constrain various business operations. The Lagos Chamber of Commerce and Industry (LCCI) is particularly concerned because, with the persistent and unabated rise in inflation, businesses should prepare for more…
The controversies surrounding business relationships in the oil and gas sector are gradually dissipating, bringing a sense of stability to the industry. However, the confusion and disruptions experienced in recent months have significantly impacted the economy and may require time to resolve fully. Regrettably, these disruptions were avoidable. We emphasize that the oil and gas…
The intention of the Federal Government to borrow a fresh external loan of $2.2 billion and presently seeking the approval of the National Assembly has caused some stirs in the business community. The concerns are driven by the weak economic fundamentals we see in the economy today and the lack of understanding of how we…
The approved 2025 – 2027 MTEF proposed that the federal government will spend N47.9 trillion to run the economy in 2025. This represents an increase of 36.64% in government expenditure compared to N35.06 trillion in 2024. In nominal terms, the budget is the highest in the history of the country in Naira denomination. The proposed…