The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to address inflation and tackle unemployment to improve the well-being of Nigerians.
In a statement on Wednesday, Gabriel Idahosa, LCCI’s president, stressed the need for the government to prioritise critical areas to foster sustainable economic growth and improve the quality of life for citizens.
He called on the government to focus on curbing inflation, stabilising prices, ensuring fiscal sustainability, improving debt management, and enhancing the ease of doing business.
Idahosa further urged the government to address unemployment, empower young people, strengthen food and energy security, and promote trade and investment.
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“Businesses must embrace innovation, digital transformation, and sustainability as growth strategies, while collaboration between the private and public sectors is critical to overcoming challenges and attracting investment,” the LCCI president said.
He also stressed the need for investments in the telecommunications sector to drive a digital transformation in the oil and gas industry to increase crude production, and in the power sector to improve electricity generation and support economic growth.
The LCCI president expressed optimism that petrol prices could decline in the first quarter (Q1) of 2025 due to ongoing price wars, with a potential reduction in interest rates anticipated by the second quarter.
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