Right economic policies drive investors confidence, says LCCI

The Lagos Chamber of Commerce and Industry has reiterated the need for the government to evolve the right economic and investment policies in order to engender investors’ confidence in the country.

The President, LCCI, Mr Babatunde Ruwase, said this at the opening of the 33rd Lagos International Trade Fair, Tafawa Balewa Square, Lagos on Friday.

He said the government should evolve policies that would ensure that the Small and Medium Enterprises could grow and provide employment.

Ruwase, while addressing government officials and exhibitors at the fair, said trade fairs created an avenue for producers, service providers and end users to converge and facilitate trade and commerce.

He noted that a good tempo of trade and commercial activities were critical drivers of economic growth as no economy could expand to create opportunities for its population without thriving commerce.

He said, “Our economic and investment policies must be friendly to make Nigeria a major investment hub in Africa. We need the right policies as well as strong commitment to infrastructural development to revive investors’ confidence in our economy.

“Our policies must be one that supports the growth of Micro, Small and Medium Enterprises, so they can impact substantially on the economy in terms of growth, job creation and value generation.

“We believe that the goal to rank among the top 70 countries on the Doing Business Rankings by 2023 is achievable. Achieving this objective however requires the combined efforts of both government and private sector.”

Ruwase said this year fair was different from previous ones, as there was creation of a special hall for exhibitors from other African nations tagged ‘Africa Hall.’

While he added that the LCCI was committed to creating a platform to promote trade and bilateral relations and ensuring that the business environment was enabling for all investors, Ruwase said that its policy advocacy group, programmes and activities were geared towards facilitating the realisation of the economic and social objectives of the government and making Nigeria an attractive destination for investment.

Photo: LCCI president Babatunde Ruwase.

Written by Samuel Awoyinfa, Punch Newspapers