Lagos, Nigeria | August 7, 2024 — The Lagos Chamber of Commerce and Industry (LCCI) has urged President Bola Tinubu to take decisive steps to implement his administration’s reform policies to benefit Nigerian citizens.
In a statement issued yesterday, Dr. Chinyere Almona, Director General of LCCI, emphasized the need for these policies to be put into action promptly. The statement, titled “LCCI Statement Following the President’s Speech on the #EndBadGovernance Protest,” acknowledged the constitutional right to protest but expressed concern over its potential negative effects on businesses and society.
Almona highlighted that beyond the government’s achievements, immediate action is required to make policies and programs tangible for citizens. She specifically mentioned that import waivers and tax exemptions should be activated without delay to benefit businesses and individuals.
Key areas for government focus, according to Almona, include reducing the cost of doing business, addressing food security, and tackling youth unemployment. She urged the government to report progress on these issues, which are linked to broader economic challenges such as poverty, inflation, and crime.
The LCCI also recommended accelerating youth-oriented programs and increasing support for technical and vocational education and training (TVET) to equip youth with skills for emerging opportunities in technology, creativity, and the arts.
Additionally, the LCCI called for the quick rollout of single-digit loans for large manufacturers to boost production and the provision of grants and low-interest loans for small businesses. With high interest rates making credit costly, the chamber suggested distributing Compressed Natural Gas (CNG) kits at minimal or no cost to commercial vehicles to reduce dependence on imported fuels.
The statement concluded with a call for improved policy implementation, clearer timelines, and a more collaborative approach involving the business community, media, and grassroots organizations.
