LCCI urges regional ties to boost food production

The Lagos Chamber of Commerce and Industry (LCCI) has said a collaboration by South western states with a renewed focus at unveiling viable and sustainable investment opportunities in the agribusiness value chain is imperative to national economic diversification and self reliance at this period of COVID-19. LCCI President, Mrs. Toki Mabogunje, made this known at a webinar aimed at unveiling viable agribusiness opportunities in the south-western region of the federation in Lagos recently. The webinar had as its theme: “Exploring Agribusiness Opportunities in Southwest Nigeria.” Mabogunje stated that this had…

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LCCI to ECOWAS: Address economic integration constraints to boost trade

The Lagos Chamber of Commerce (LCCI) has urged the Heads of States of member-countries of Economic Community of West African States (ECOWAS) to address economic integration constraints facing the sub-region to boost trade. LCCI said over 80 per cent of trade in the sub-region were done by road, which created a great deal of transit problems for movement of goods in the region. LCCI President, Mrs. Toki Mabogunje, in a chat in Lagos, explained that it was important to get priorities right as far as economic integration issues were concerned…

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LCCI: Poor infrastructure impeding exporters’ profits

  The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns over lack of adequate infrastructure, especially reliable testing facilities at the point of export, saying this is resulted largely to increase in production cost for exporters.   President, LCCI, Babatunde Ruwase, in a chat in Lagos, said that investors in export sector were concerned that infrastructure decay is affecting competitiveness and profit margin of exporters.   Specifically, he said facilities for testing of quality of products and the generation of quality reports are still lacking in the country,…

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LCCI to CBN: Prioritise low interest rate for investment, growth

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) to think in line with the President Muhammadu Buhari administration’s policy of job creation and poverty reduction by prioritising low interest rate to stimulate investment and growth in the country. President, LCCI, Babatunde Ruwase, stated this during a press briefing on the state of the economy, in Lagos, yesterday. He said that the continued retention of the monetary policy rates, particularly for the tenth time at its recently held meeting…

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LCCI flays rising cost of livestock feeds

The Lagos Chamber of Commerce and Industry (LCCI) has decried the rising cost of vaccines and micro-nutrients for the production of fishmeal and other livestock feeds in Nigeria, attributing it to the insecurity posed by herdsmen crises. Director General, LCCI, Muda Yusuf, disclosed this in a chat in Lagos. He said the scarcity of the animal vaccines is causing high cost of poultry products in the country, stressing that the rising cost of vaccines cannot be sustained because of its multiplier effects on food productivity and consumption. Specifically, he said…

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LCCI wants more Chinese auto makers in Nigeria

Against the backdrop of the success of most Chinese auto brands that recently entered the Nigerian market, the Lagos Chamber of Commerce and Industry (LCCI) has urged Chinese and other vehicle and motorcycle spare parts dealers to consider setting up assembly and full manufacturing plants in Nigeria.   Speaking at the Nigeria-China Auto Parts Economic Trade Seminar and Business Match-making Meeting in Lagos last week, Knut Ulvmoen, Deputy President of the chamber, told Chinese spare parts dealers that they could not afford to sit in China, make spare parts and…

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LCCI flays banks for delay in releasing funds to investors

The Lagos Chamber of Commerce and Industry (LCCI) yesterday said it has discovered that commercial banks operating in the country were depriving investors majorly in agriculture, real estate, solid minerals intervention funds amid high interest rate charges. LCCI President, Babatunde Ruwase, in a chat with New Telegraph in Lagos, explained that investigations among its members had shown that many investors in agriculture, real estate, solid minerals cannot finance projects profitably at an interest of rate of 10 per cent and above. According to him, access to and cost of fund…

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Why there are constraints in real sector, by LCCI

  ●Seeks NSE intervention   The Lagos Chamber of Commerce and Industry (LCCI) has linked the inability to source capital for investors, especially the indigenous companies, to the constraints in the growth of key sectors such as agriculture, manufacturing, property, construction and infrastructure. President of the LCCI, Babatunde Ruwase, speaking during a courtesy visit to the Nigerian Stock Exchange (NSE), called for mobilisation of capital for investors to invest in these key sectors of the economy in order to grow the economy aggressively. He said the sectors need affordable long…

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Lagos Land Use Charge against democratic ideals — LCCI

Sanctions to defaulters under the Reviewed Land Use Charge (LUC) Law of Lagos are too severe and not in tandem with democratic ideals. Mr Babatunde Ruwase, the President of Lagos Chamber of Commerce and Industry (LCCI), made the observation in Lagos on Friday during a stakeholders’ forum on Lagos Land Use Charge Law, 2018. He said that while the chamber would not encourage or support any form of infractions of the law, the sanctions must be proportional and fair. The News Agency of Nigeria (NAN) reports that the Land Use…

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Members’ Evening: LCCI, NAICOM to parley brokers

Officials of the Lagos Chamber of Commerce and Industry (LCCI) as well as management of the National Insurance Commission) NAICOM) are expected to grace the February edition of Member’s Evening, an event hosted by the National Council of Registered Insurance Brokers (NCRIB) for underwriters to brainstorm with brokers. During the meeting, the Commissioner for Insurance, Alhaji Mohammed Kari, is expected to interact with brokers on wide ranging issues affecting their operations. This is in addition to the presence of LCCI officials, who would be on hand to address brokers on…

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