Don't Miss


Home   >   Business   >   Industries   >   LCCI rates Nigeria’s economy after two-year in service

LCCI rates Nigeria’s economy after two-year in service

By on December 1, 2013

As the Lagos Chamber of Commerce in Industry expects a new leader, the outgoing president, Mr. Goddie Ibru has given an assessment of Nigeria’s economy over the two years he led chamber.

He said, though there are opportunities in the market, corruption and inadequate infrastructure still remained as major challenges.

Ibru gave the assessment at the valedictory luncheon and launching of a book in his honour on Thursday in Lagos.

“The past two years was no doubt challenging both for our Chamber, the members and business environment. The business environment is still far from being ideal. The challenges of infrastructure, inconsistency of policy, multiple taxation, high cost of fund, the bureaucracy, and corruption still persist. But the good news is that opportunities also abound,” he added.

He recommended that government must allow private participation if the country’s economy must grow.

He said, “The private sector has a major role to play in the realisation of our vision to be leading economy on the African continent. We have a critical role to play in job creation, poverty eradication, wealth creation and equitable distribution of income and many more. We cannot do this unless the environment is right.”

Ibru, however, urged members of the chamber not to relent in its efforts of aiding the nation’s economy development and economic empowerment.

He said, “We assumed the momentum of our advocacy and business development services through our numerous platforms – sectoral group meetings, business networking functions, trade fairs, quarterly press conferences and releases, meeting with the trade mission and our trade promotional activities.

“We have done our best in all these areas to ensure the delivery of value to our members and business community. Surely, there is room for improvement. The successor will therefore need to continue the struggle for better investment climate at the level of policy, institutions, bureaucracy and infrastructures.”

 

 

[Punch]