Hub Status: LCCI tasks FG on friendly economic, investment policies


The Lagos Chamber of Commerce and Industry (LCCI) has harped on the need for the federal government to ensure that Nigeria’s economic and investment policies are friendly in order to make the country a major investment hub in Africa.

The President of the Chamber, Mr. Paul Babatunde Ruwase who made this observation in his opening address at the opening ceremony of the ongoing 33rd Lagos International Trade Fair with the theme, “Connecting Businesses, Creating Value”, stated that Nigeria needed the right policies as well as strong commitment to infrastructural development to revive investors’ confidence in the economy.

Ruwase noted that “Our policies must be one that supports the growth of Micro, Small and Medium Enterprises, so they can impact substantially on the economy in terms of growth, job creation and value generation.”

While expressing his strong belief that Nigeria’s quest to rank among the top 70 countries on the Doing Business Ranking by 2023 was achievable, he however pointed out that achieving this objective required the combined efforts of both government and the private sector.

He therefore assured that the Lagos Chamber would not relent in engaging government through its advocacy programmes to ensure that government policies engender a more confidence among investors.

Speaking on the fair, the President stated that “Trade Fairs creates an avenue for producers, services providers and end users to converge and facilitate trade and commerce” adding that “a good tempo of trade and commercial activities is a critical driver of economic growth as no economy can expand to create opportunities for its population without thriving commerce. “

While stating that “It is the traders that connect producers and consumers”, he added that “this year’s trade fair is different from previous ones and one of the latest initiatives is the creation of a special hall for exhibitors from other African nations tagged ‘Africa Hall’.”

“Creating a platform to promote trade and bilateral relations is of utmost importance to the Lagos Chamber of Commerce and Industry. We are committed to ensure the business environment is enabling for all investors. As a policy advocacy group, our programmes and activities are geared towards facilitating the realisation of the economic and social objectives of the government and making Nigeria an attractive destination for investment’, he further said.

Photo: LCCI President, Mr. Paul Babatunde Ruwase.

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