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Tag: LCCI

LCCI warns FG on rising debt
News

Boost petrol exports to curb inflation, LCCI tells FG

The Lagos Chamber of Commerce and Industry has called on the Federal Government to boost local crude oil refining and expand petrol exports to curb inflation and strengthen the naira. This was disclosed in an interview by the President of the LCCI, Gabriel Idahosa, on Saturday, according to The PUNCH. Idahosa stated that the N54.99 […]

How FG can avoid recession in 2023 - LCCI
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2025: LCCI predicts transformative growth for Nigeria

The Lagos Chamber of Commerce and Industry forecasts significant economic growth for Nigeria in 2025, contingent on the formulation and execution of decisive policies to tackle persistent economic challenges. This was disclosed by the LCCI President, Mr. Gabriel Idahosa, in the chamber’s New Year statement, which assessed Nigeria’s economic performance in 2024 and outlined projections […]

LCCI warns FG on rising debt
News

LCCI reiterates demand for fixed import duty exchange rate

The Lagos Chamber of Commerce & Industry has urged the federal government to set a fixed import duty exchange rate below the market rate for at least six months. The LCCI Director-General, Dr. Chinyere Almona, made this disclosure in a chat on Monday, according to The Punch. Almona emphasized this as a necessary step for […]

How FG can avoid recession in 2023 - LCCI
News

LCCI raises the alarm over FG’s $2.2bn borrowing plan

The Lagos Chamber of Commerce and Industry has raised concerns over the Nigerian government’s plan to secure a $2.2 billion loan, warning that it could worsen debt sustainability issues and hamper infrastructure development. This was disclosed in a statement by the LCCI on Friday. The LCCI Director-General, Dr. Chinyere Almona, emphasized the need for Nigeria […]

News

LCCI urged FIRS to adopt tech for improved operations

The Lagos Chamber of Commerce and Industry has called on the Federal Inland Revenue Service to enhance its adoption of technology to improve its operations. Speaking at the FIRS Special Day during the Lagos International Trade Fair, on the weekend, themed “Connecting Businesses, Creating Value,” LCCI President Gabriel Idahosa emphasized the importance of targeted outreach, […]

International investors remain cautious as Cardoso seeks cash infusions - Report
Business

Focus on factors causing inflation, LCCI tells CBN

By Melvin Onwubuke The Lagos Chamber of Commerce and Industry has urged the Central Bank of Nigeria, to pay particular attention to factors contributing to the surge in inflation, in its monetary policy decisions. This follows the statement signed by it’s Director-General. The LCCI said, the decision by the apex bank to increase the benchmark […]

LCCI predicts reduced inflation in 2024
Business

LCCI predicts reduced inflation in 2024

The President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, forecasts that the country’s inflation rate will decrease in 2024. The PUNCH reported that Idahosa who was speaking in an exclusive interview on Friday, blamed the loss of gasoline subsidies for the acceleration of inflation this year. According to the LCCI president, if governments at all levels […]

Business

LCCI laments shrinking capital into manufacturing sector

The Lagos Chamber of Commerce and Industry has expressed concern about the large inflow of loans and bonds into the industrial sector in the first half of the year. This, the chamber said, indicates the difficulties the manufacturing sector is facing, the need to fulfill immediate responsibilities, and the halting of commercial activity. The National […]

LCCI predicts reduced inflation in 2024
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Prepare for tech disruptions, LCCI warns industries

The Lagos Chamber of Commerce and Industry has cautioned industrial organizations to brace themselves for disruptions as technology continues to disrupt company operations worldwide. According to The Punch, the Chairman of the LCCI’s Trade Promotion Board,  Leye Kupoluyi, stated this at the media launch for this year’s Information Communication Technology and Telecommunications Expo. The event’s topic this […]

How FG can avoid recession in 2023 - LCCI
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How FG can avoid recession in 2023 – LCCI

The Federal Government has been urged to continue its interventions in crucial economic areas if the nation is to avoid a recession in 2023, according to the Lagos Chamber of Commerce and Industry. In a statement on the nation’s economic prognosis for 2023 that was made accessible to Vanguard, the director general of the LCCI, […]

Economy News

How Nigeria can lower debt service-to-revenue –DMO

The Debt Management Office has said that Nigeria can lower its debt service-to-revenue ratio if it generates higher revenue like Ghana, Kenya, and Angola. According to the DMO, while Nigeria has a revenue-to-Gross Domestic Product ratio of nine per cent, Ghana, Kenya and Angola have a revenue-to-GDP ratio of 12.5 per cent, 16.6 per cent, […]

Economy

Nigeria’s total debt may hit N50tn – Report

THE Centre for the Promotion of Private Enterprise has said that Nigeria’s debt, including that of the Asset Management Corporation of Nigeria and borrowings from the Central Bank of Nigeria, can hit N50tn within the shortest possible time. The Chief Executive Officer, CPPE, Dr. Muda Yusuf, said this during an event to present the 2022 […]