LCCI 2019 Economic Review and Outlook for 2020
The global Gross Domestic Product (GDP) growth of 3% in 2019 was the lowest output growth in a single year since 2011 and below the 10 years (2001-2010) average of 3.9%…
The global Gross Domestic Product (GDP) growth of 3% in 2019 was the lowest output growth in a single year since 2011 and below the 10 years (2001-2010) average of 3.9%…
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…
Nigeria’s inflation continues its upward trend, rising to 27.33% in October from 26.72% in the previous month as released by the National Bureau of Statistics (NBS). This represents 0.61% points increase, reflecting higher food & fuel prices and the consistent depreciation of the Naira. The annual consumer price inflation soared by 6.24% points when compared…
The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organised private sector (OPS) in Nigeria, is set to host the first ever INEC-Private Sector Forum on electoral process. The forum, which is aimed at providing a platform to discuss the role of the private sector…
PRESS BRIEFING ON THE STATE OF THE ECONOMY BY THE PRESIDENT OF LAGOS CHAMBER OF COMMERCE & INDUSTRY, MRS. TOKI MABOGUNJE, HELD ON WEDNESDAY, 5TH MAY 2020 AT COMMERCE HOUSE, VICTORIA ISLAND, LAGOS Protocols Deputy President, Lagos Chamber of Commerce & Industry Asiwaju [Dr] Michael Olawale-Cole, CON Deputy President, Lagos Chamber of Commerce &…
The Lagos Chamber of Commerce and Industry (LCCI) wishes to commend President Bola Tinubu on his second State of the Nation address as the country grapples with the short-term economic hardship resulting from subsidy removal and exchange rate harmonization. The President’s address showed leadership, responsibility, and accountability, and he demonstrated empathy as he unveiled a…
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…