LCCI Press Release

The Company and Allied Matters Act [2020] was assented to by President Muhammadu Buhari, GCFR on Friday 7th August 2020.  The legislation and the subsequent assent were widely applauded by the business community. However, six weeks after, the legislation is yet to be gazetted.  The......

27 August, 2020; Lagos, Nigeria: The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice of the organised private sector (OPS) in Nigeria has concluded plans to host a virtual conference on Federal Government’s economic interventions and the......

The Lagos Chamber of Commerce & Industry notes with concern the decline in national output in Q2-2020. According to the GDP report by the National Bureau of Statistics, the economy contracted by a record 6.1 percent in the second quarter, and this marks the steepest......

CONVID 19: BUSINESS AND ECONOMIC SUSTAINABILITY PROPOSITIONS The Covid-19 pandemic has raised serious concerns about economic sustainability and business continuity, both of which are interdependent and mutually reinforcing.  It has become imperative to commence conversations about policy measures and reforms that need to happen for......

COVID-19 RESPONSE: LCCI DONATES FOOD AND MEDICAL SUPPLIES TO LAGOS STATE 5 April, 2020; Lagos, Nigeria: 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, has donated food and......

    REMARKS OF THE SECRETARY TO THE GOVERNMENT OF THE FEDERATION, MR. BOSS MUSTAPHA, AT THE 4TH EDITION OF SECURITY MEETS BUSINESS ORGANIZED BY THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY AT COMMERCE HOUSE, VICTORIA ISLAND, LAGOS, TUESDAY, 25TH FEBRUARY, 2020   PROTOCOLS I......

In the recent past, Nigeria has witnessed unprecedented security challenges ocassioned by the activities of extremist, kidnappers, armed robbery in almost all parts of the country...

Mr. Muda Yusuf, Director General of the Lagos Chamber of Commerce & Industry, Distinguished guests from the Press and the media, Ladies & Gentlemen,   Good morning to all, It is a true pleasure to welcome you all here today at the Lagos Chamber of......

Over the last 59 years the Nigerian economy has transformed from a basically agrarian economy to an economy driven largely by resources from the oil and gas sector. The 2019 first quarter GDP data shows that the non-oil sector accounts for 90.9% of the GDP......

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......

3 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 set to hold the 2019 edition of its annual Members’ Day Exhibition and Networking......

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......

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......

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......

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......

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......

The Lagos Chamber of Commerce and Industry [LCCI] wishes to express its deep reservations over the Nigeria Postal Commission Bill currently before the National Assembly. We submit that the bill is inimical to private sector investments in the Courier business; it is a negation of......

SPECIAL PRESS CONFERENCE BY THE PRESIDENT OF THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY, MR BABATUNDE RUWASE, FCA ON NIGERIAN MARITIME PORTS HELD ON TUESDAY 2ND OCTOBER 2018 AT COMMERCE HOUSE, VICTORIA ISLAND, LAGOS OFFICERS, COUNCIL AND OTHER MEMBERS OF THE LAGOS CHAMBER OF COMMERCE......

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 4th edition of the Information, Communication, Technology and Telecommunications (ICTEL) Expo. The tech event is......

As part of the continued search for long-standing solutions to the malaria scourge and in commemoration of the World Malaria Day (WMD), the winners of the 2017 edition of The Nigeria Prize for Science today in Lagos presented their winning work on Malaria to members......

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......

PRESS BRIEFING ON THE STATE OF THE ECONOMY BY THE PRESIDENT OF LAGOS CHAMBER OF COMMERCE AND INDUSTRY, MR. BABATUNDE PAUL RUWASE, FCA HELD ON 16TH MAY 2018 AT COMMERCE HOUSE, VICTORIA ISLAND DEPUTY PRESIDENT LAGOS CHAMBER OF COMMERCE AND INDUSTRY, MRS TOKI MABOGUNJE  ......

COMMUNIQUE OF THE COUNCIL MEETING OF THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY [LCCI] HELD 7TH FEBRUARY 2018 The LCCI Council meeting took place on Wednesday 7th February, 2018 under the Chairmanship of its President, Mr Babatunde Paul Ruwase, FCA. The meeting deliberated on the......

COMMUNIQUE ISSUED AT THE END OF A STAKEHOLDERS’ FORUM ON AFRICAN CONTINENTAL FREE TRADE AGREEMENT (AfCFTA) ORGANISED BY THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY (LCCI) AT THE COMMERCE HOUSE, 1, IDOWU TAYLOR STREET, VICTORIA ISLAND, LAGOS ON THURSDAY 24TH MAY, 2018. The Forum The......

PRESS RELEASE   COMMENTS ON GOVERNMENT’S PLAN TO IMPOSE/INCREASE EXCISE DUTY RATES ON LOCALLY PRODUCED GOODS   The government recently commenced the enforcement of the approved amendment to the excise duty rates for alcoholic beverages, spirits and tobacco in Nigeria. However, we are worried over the move......

COMMENTS ON THE FREEZING OF BANK ACCOUNTS OF ALLEGED TAX DEFAULTERS BY FIRS The attention of the Lagos Chamber of Commerce and Industry [LCCI] has been drawn to the recent decision of the Federal Inland Revenue Service [FIRS] to appoint banks as collecting agents and......

Introduction On the 16th of May 2018, the National Assembly passed a budget of N9.12 trillion for the 2018 fiscal year. This budget represents a 6 percent increase over the N8.61 trillion budget proposal presented by President Muhammadu Buhari on the 7th of November 2017......

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, has elected Mr. Babatunde Paul Ruwase as President for the next two years. This followed the expiration of Dr. Mrs.......

The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and one of the leading voices in the organised private sector (OPS) in Nigeria has concluded plans to host its annual Security Meets Business Dialogue. As part of its public-sector engagement programs,......