Support Govt Reforms, LCCI Urges Private Sector

PowerFormer Lagos State Governor, Mr. Babatunde Fashola SAN (right) with the former Minister of Industry and Vice President, Lagos Chamber of Commerce and Industry
  • Support Govt Reforms, LCCI Urges Private Sector

The Lagos Chamber of Commerce and Industry has called on the private sector to support the Federal Government’s reform efforts by making complementary contributions that will help bring the economy out of recession.

The President of the LCCI, Dr. Nike Akande, stated this while presenting the 2017 Lagos International Trade Fair prospectus to the public.

She said, “We call on all industry players to support the efforts of the government in revamping and stabilising the economy through the injection of capital into the economy to drive investments in agriculture, manufacturing, trade, services and technology.”

Akande said the recently unveiled Federal Government’s economic and growth plan was expected to promote macroeconomic stability and economic diversification through fiscal stimulus, monetary stability and improvement of external balance of trade.

“These reforms are expected to enhance Nigeria’s ranking in the ease of doing business. The private sector is expected to plug into these efforts and make complementary contribution towards rescuing our economy from recession,” she added.

On the trade fair with the theme ‘Promoting industrialisation for economic recovery and sustainable growth’, the LCCI president noted that it would provide a platform for different sectors of the economy such as industrial, manufacturing, agriculture, solid mineral and services to showcase their products to a large number of visitors and participants.

She said, “The LITF is the only one in its class. The theme of the fair is quite apt and timely in the face of the current economic realities, which underscore the need for diversification and inter-sectoral synergy.”

The Chairman, Trade Promotion Board, Mr. Sola Oyetayo, said that this year’s public presentation of the LITF prospectus was early due to the need to begin to reposition the exhibition to fit into plans of the stakeholders from the beginning of the year.

On the theme of the fair, he explained that with the yearnings for diversification of the Nigerian economy, it was imperative to begin to focus on how the economy could experience sustainable and inclusive growth through industrialisation.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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