NIGERIA ECONOMY IN NEED OF PRIVATE INVESTMENTS – LCCI

LCCI advocates for increased private investments in Nigeria economy.

President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Ruwase, said Nigeria economy is in need of private investments. These investments will help create jobs, diversify the economy and also improve the welfare of the country’s inhabitants.

He made this statement at the international investment conference organised by the chamber in Lagos. The theme of the conference was “Promoting Investment, Connecting Business”.

Nigeria economy is currently diversifying; As a non-oil economy is more inclusive, integrated and also more growth-oriented. It also offers more jobs characterised by high economic linkages.

Mr. Ruwase also commended the Presidential Enabling Business Environment Council (PEBEC) for its various interventions. PEBEC is an initiative under the chairmanship of the Vice President, Prof. Yemi Osinbajo.

Since the inauguration of the council, there have been regular, consistent and also improved communication between the government and the private sector. But there is still a need to attract more private investment into the economy. This is can only be achieved through implementation of the right policies and also creation of investment friendly institutions. This conditions are certainly necessary for encouraging both domestic and foreign investments.

Promotion of investments will help facilitate capital flow, create more jobs and promote exports which are all evidence of business growth in the Nigeria economy.

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