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Tag: Lagos Chamber of Commerce and Industry (LCCI)

  • Adegbite applauds Christian pilgrimage as Christian journalists charged to uphold integrity, courage

    Adegbite applauds Christian pilgrimage as Christian journalists charged to uphold integrity, courage

    The Lagos Chamber of Commerce and Industry (LCCI), Alausa, came alive on Friday, November 21, 2025, as the Association of Christian Correspondents of Nigeria (ACCoN) hosted its 5th Annual Lecture, Anniversary Celebration, and the official unveiling of its new name and logo.

    The event, themed ‘Socioeconomic Benefits of Pilgrimage to the Nigerian State,’ drew government officials, clerics, media leaders, and Christian tourism advocates, marking a major milestone in ACCoN’s mission to professionalise Christian journalism and deepen the link between faith and national development.

    Read Also: NGF names Yobe best performing state in primary health care delivery

    Delivering the keynote address, Bishop Stephen Adegbite, Executive Secretary of the Nigeria Christian Pilgrim Commission (NCPC), underscored the spiritual and socioeconomic value of Christian pilgrimages.

    Quoting Psalm 84:5, he described pilgrimage as both a faith-deepening journey and a contributor to national growth. Adegbite broke down the value of pilgrimage into its motives, the activities involved, and the role of tourism in faith-centred travel.

    He emphasized four major national benefits: infrastructure development, opportunities for private travel operators, revenue generation, and the merging of spiritual growth with economic advancement.

    “Pilgrimage offers tangible spiritual and material benefits — from insurance cover to retirement opportunities and even vacation support,” he said.

    Bishop Charles Ighele, Chairman of ACCoN’s Board of Trustees, commended the association for balancing professionalism with fairness in reporting church activities.

    He praised members for “walking a delicate rope — not destroying the Church, yet not ignoring areas needing correction,” and prayed for divine support as ACCoN entered a new phase.

    Earlier in his welcome address, ACCoN President, Adeola Ogunlade described the gathering as a recommitment to the association’s mandate.

    “Our mission as Christian journalists is not merely to report,” he said, “but to edify, clarify, and preserve truth in a world clouded by misinformation.”

    He acknowledged ongoing debates over public funding of pilgrimages but stressed that ACCoN’s focus was on exploring the spiritual, moral, cultural, and economic impacts of pilgrimage rather than fueling controversy.

    Ogunlade also unveiled the association’s future aspirations, including: a permanent secretariat, a Christian media resource library, a conference hall, and an endowment fund for the annual Christian reporters’ award.

    He disclosed that discussions were underway to collaborate with the prestigious Diamond Awards for Media Excellence (DAME) to jointly host the awards, a project expected to cost at least ₦1 million.

    With support from the Lagos State Christian Pilgrims Welfare Board, the Christian Tourism Practitioners Association of Nigeria (CTPAN), Lagos State Christian Pilgrims Welfare Board, Time to Fly, Oasis of Faith, Divine Majesty Ministry, and Unique Travels and Tours, the event highlighted the rising influence of Christian journalism in national conversations.

    As ACCoN marks its fifth anniversary, members say the association is evolving beyond reporting church affairs to contributing meaningfully to policy debates on faith, culture, and tourism.

  • Food security: LCCI urges participation in agribusiness

    One way to ensure food security in the country is top galvanise concerted efforts towards supporting agribusiness, the Agriculture Group of Lagos Chamber of Commerce and Industry (LCCI) has said.

    Making this charge at the weekend was the Chairman of the LCCI Agric Group, Mr African Farmer Mogaji.

    Mogaji, who was the convener of the 2019 maiden edition of Agribusiness Africa Conference, held in Lagos, “We are trying to bring the private sector at small scale and medium, such that they can put in the right structure and we can get the sector moving forward. We plan to work with our participants for a period of three months to seek out the people who are serious that we can sail together. We want to serve as an umbrella body to help, most especially those youths ages 18-40 who need information and network. We plan to do within three months and then scale up with the few ones that qualify.

    “I don’t support how the border was closure to import of agricultural produce was implemented, however, for every adversity comes an equal or greater opportunity, provided we can find it. The border closure is going to create an initial challenge for food distribution and availability, however, if the private sector launches into it, that gap will be closed, so yes, the government has closed it, but we need to step in now. If Nigerians don’t jump into it, foreigners will and then still take it out after making money. This conference is our way of encouraging people to buy local, grow together and make profit together.”

    He pointed out that agriculture is not like other sectors and so, stressing the need to work the ropes as they lack coaching and mentoring.

    The Executive Director, Alder Consulting, Mrs. Subomi Plumtre, stated that with the African Free Trade Agreement, a lot of markets have become open adding that it was time to build a distinct identity and brand for agribusiness products, companies or organisations.

    She encouraged farmers or agribusiness professionals to go beyond just doing the quality work that they are doing and build a reputation especially online, attend conferences and build networks beyond Nigeria and attract funding that can be used to scale beyond Nigeria.

  • Boosting federal civil service delivery

    For two days last week in Abuja, senior civil servants in the Office of the Head of Civil Service of the Federation, among others were trained on innovation to boost their service delivery. EMEKA UGWUANYI reports

    For two days, senior civil servants in the Office of the Head of Civil Service of the Federation (OHCSF) had their skills honed, courtesy of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI), conjunction with the Massachusetts Institute of Technology (MIT).

    The training on Radical Innovation held in Abuja for 80 senior civil servants across the Ministries, Departments and Agencies (MDAs).

    The Acting Head of Service, Dr. Folashade Yemi-Esan, said the training was aimed at developing a more innovative civil service for improved service delivery via dedicated innovation units.

    She recalled that one of the eight priority areas in the 2017 to 2020 Federal Civil Service Strategy and Implementation Plan (FCSSIP) is to drive innovation in the service.

    She said the Head of Service Project Management Team on Innovation was embarking on the establishment of a Service Innovation Department and Service Innovation Units in all the MDAs, as well as an innovation campaign to raise awareness on Innovation in the public sector.

    She thanked the OPTS for supporting the implementation of the programme, which she described as the “first of its kind in the Nigerian public sector”.

    OPTS Chairman, Mr. Paul McGrath, commended the OHCSF for the  civil service reform aimed at better performance and improved service delivery.

    McGrath, represented at the event by Mr. Lorenzo Fiorillo, the Vice Chairman of OPTS, said OPTS members, were delighted by the OHCSF for upgrading the horizon of civil servants in technology.

    He said: “We are delighted to identify with the leadership and staff of the Federal Civil Service in this effort to build a modern public service and to support OHSCF in the provision of a world-class training programme as part of the activities under the Federal Civil Service Strategy and Implementation Plan (FCSSIP) 2017-2020.

    “I trust that this training, delivered by one of the world’s leading training institutions, will go a long way in supporting the OHSCF in achieving her aspirations to become an organisation that provides world-class service for sustainable national development.”

    The OPTS chairman called for efforts to create a vibrant oil and gas industry by ensuring the security of lives and property, maintaining stable laws and policies, respecting contract sanctity and fair mechanisms for timely dispute resolution, developing sustainable local capacity and removing structural factors that increase costs.

    The training was facilitated by Prof. Sanjay Sarma, Vice President, Opening Learning and Prof. Bhaskar Pant, Executive Director, Professional Education of the MIT.

    Pant said the training was the first professional programme being held in Africa, under the MIT Africa Initiative, which seeks to be engaged in the development of universities as well as the public and private sectors in Africa.

    The training culminated in an innovation conference held at the NationalUniversities Commission Auditorium, Abuja. It was attended by directors and permanent secretaries across the MDAs.

  • LCCI raises alarm over spiralling inflation

    THE Lagos Chamber of Commerce and Industry (LCCI) on Thursday raised alarm over the current high inflation rate which has led to increase in food prices.

    It also expressed concern over the country’s current high debt profile, lamenting that the huge cash meant for debt servicing was not healthy for the economy.

    Addressing reporters at its second quarter (Q2) press conference on the economy, its President, Mr Babatunde Ruwase, said the Chamber was concerned over the general increase in the cost of living and urged the government to put measures in place to address the situation.

    Ruwase said: “Inflation rose to 11.40 per cent in the month of May, representing the highest rate since December 2018 and higher than the 9.9 per cent target in the 2019 budget.

    “Consumer prices rose 1.11per cent on a month -on -month basis in May, up from April’s 0.94 per increase. This increase was reported by NBS (Nigeria Bureau of Statistics) to be largely caused by faster growth of food prices.”

    LCCI therefore, urged the Federal Government to show more commitment by taking actions that will stabilise food prices through improved food production, improved post-harvest management and transportation to reduce the volatility in food prices..

    Ruwase said: ” Unfortunately, the drop in the budgetary allocation to the agricultural sector from 2.23 per cent in 2018 to 1.56 per cent in 2019 does not reflect the desired government’s commitment to improving the country’s food situation.”

    Read Also: LCCI calls for review of automotive policy

    He added that the plan by the Federal Government to obtain additional $2.7billion foreign loan calls for concern because in the last three years, the nation’s debt profile rose from $10.32billion in June 2015 to $22.08billion as of June 30, last year.

    With this additional loan, the LCCI chief said the country’s foreign debt would increase and invariably increase the overall debt profile of the country which stood at N24.38tr as at December 31, 2018.

    Already, the Federal Government proposed to spend a total of N2.14trillion on debt servicing in the 2019 fiscal year which is 27per cent of revenue. “We are concerned with the increasing amount meant for debt servicing and is becoming worrisome as more funds that could be used for developmental projects are used to service debt,” he said.

    The Chamber said there is an urgent need for the government to cut down its debt and seek other ways of raising funds, by rigorously promoting new investments to increase revenue.

     

  • LCCI decry exclusion of textile from Forex

    The Lagos Chamber of Commerce and Industry (LCCI) says the exclusion of all forms of textile materials from the foreign exchange market pose a threat to the N5 trillion fashion industry.

    Muda Yusuf, Director-General of LCCI, who disclosed this in a statement on Sunday in Lagos, noted that tailoring, accessories and garment industry would suffer a setback.

    Yusuf said that the industry which had created over 500,000 jobs was one of the fastest growing industries and had brought amazing opportunities for many young Nigerians to express their creativity and innovation.

    “The industry provides significant value addition to fabrics, whether imported or domestically produced, and the policy contemplation of the CBN will put all of these at risk,” he said.

    The News Agency of Nigeria (NAN) recalls that the Central Bank of Nigeria (CBN) on March 5, added all forms of textile materials to its FOREX restriction list to rejuvenate the textile industry and ensure that the needed growth was actualised.

    Yusuf noted that the fashion industry responded to changing tastes and trends in the global world.

    According to him, currently, the range of fabrics produced by local textile industry cannot support the fashion industry in terms of the quantity and quality.

    “Today, Nigeria is clearly the leader in Africa as far as the fashion industry is concerned.

    “This vibrant industry should not be sacrificed on the altar of textile industry re-generation.

    “This submission is not to diminish the importance of textile industries in any way or the significance of industrialisation. It is to underscore the importance of a strategic approach to industrialisation,” he said.

    Yusuf noted that the fundamental issues was to address infrastructure challenges, adding that the textile industry needed to be saved from the excruciating burden of high operating and production costs.

    According to him, as the country progresses to the next level of the Buhari administration, policy coordination and collaboration among the economic ministries and agencies is imperative.

    “There should be collaboration and coordination between the CBN, the Finance Ministry, Budget and Planning and Trade and Investment on trade policy issues.

    “The boundaries of monetary policy need to be properly defined. Exclusion of sectors from the forex market is not a monetary policy issue. It is trade policy matter.

    “Monetary policy is about managing liquidity to influence the direction of credit, exchange rate and inflation.

    “Trade policy formulation is not within the remit of the CBN. It is an inter-ministerial responsibility involving the Finance, Budget and Planning, Industry, Trade and Investment Ministries,” he said.

    He noted that the fiscal policy document clearly outlined import and export prohibition lists while the tariff book defined the various tariff measures applicable across sectors and range of products with relevant Harmonised System (HS) codes.

    He said that the private sector would like to see minimum policy shocks as the President Buhari administration stepped into the next level. (NAN)

  • LCCI: Economy grows lower than IMF’s, ERGP’s projections

    The Lagos Chamber of Commerce and Industry (LCCI) said the economy grew lower than the projections of the International Monetary Fund (IMF) and the Federal Government’s Economic Recovery Growth Plan (ERGP).

    Its President, Babatunde Paul Ruwase, lamented that the economy performed below the growth forecasts of 2.1 per cent and 4.1 per cent  of the IMF and ERGP and IMF .

    He said unemployment as at Q3 2017 stood at 18.8 per cent which translates to over 16 million unemployed people. He said this was made worse by an average of three per cent growth and population of about 200 million without a corresponding economic growth and prosperity.

    He underscored this further with data from the National Bureau of Statistics (NBS) that showed that real GDP grew by 1.5 per cent in the second quarter of 2018 from 1.95 per cent in the first quarter.

    He said the good news is that before now, rising global oil prices and stable local production levels of crude oil are the two key critical factors that helped to restore calm in the forex market.  He said confidence has returned to the market and hoped this would be sustained next year.

    Ruwase said though the CBN intervention in the FX market pressured the country’s gross external reserves from $47.5billion in July to $41.99 billion at the end of October 2018.

    He said: “The local currency faced increased pressure in Q4-2018 which is a reflection of the sell-off in fixed income and equities by foreign investors resulting from the rising rates in advanced economies.”

    On the way forward, he said the country may continue to see increased pressures on the FX reserves following the US Federal Reserve’s hike in rates. He argued that the potential increases in oil revenues, increased non-oil export and reforms that give  incentives Foreign Direct Investment (FDI) would support the CBN’s ability to defend the local currency.

    He also said inflationary prospects driven by the conflicts in the Northern region is disrupting food supply, election spending and possible acceleration in the implementation of the N9.12 trillion 2018 budget.

    In the same vein, imminent increase in minimum wage increase may cause a spike in general price levels as consumer demand, he added.

    On the capital market, he said it was largely bearish. He said: “The year to date loss of the NSE All Share Index currently stand at about 17.32 per cent. Market capitalization stood at N11.70 trillion at the end of October 2018 from N13.609 it traded at the end of December 2017. This translates to investors loosing about N1.92 trillion of their investment during the year under review.”

    On the debt profile, he stated that the Debt Management Office (DMO) put the nation’s total debt stock at N22.38 trillion as at June 30. He reiterated that stakeholders are concerned about the fast-growing public debt profile and the countries fiscal sustainability.

    The LCCI chief maintained that the debt service to revenue ratio which currently stand at over 40 per cent is on the high side with implications for the country’s ability to deliver infrastructure investments.

  • Lagos Trade Fair: Exhibitors call for reduction in leasing fee for stands

    Some exhibitors at the ongoing Lagos international trade fair on Thursday advised the Lagos Chamber of Commerce and Industry (LCCI), the organisers of the fair, to reduce the rent on each stand in future.

    They told the News Agency of Nigeria in Lagos that the rent had consistently been on the increase yearly.

    The exhibitors said the LCCI should ensure that the rents were reduced to enable them have some returns on their investments.

    Mrs Jenifer Ende of Endis Global Ventures said she got her stand for N1.2 million, the premium package, which according to her is quite exorbitant.

    Ende expressed doubt if she would be able to break even with such rents before the end of the 10-day scheduled for the fair.

    She urged the management of LCCI to train their members of staff to be cautious in addressing exhibitors, saying that most of the staff addressed exhibitors rudely each time they lodged complaints.

    “Most of the LCCI staff are very rude; they must be cautioned,’’ she said.

    Ende said that she would appreciate it if the fees for the stands were reduced.

    “ I love the Lagos international trade fair because it is the best in the whole of West and Central Africa.

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    “I just finished with the Jos trade Fair before coming here, the leasing fees for stands there are not as much as here, though I know one cannot compare the two cities.’’

    Mr Adegboyega Ezekiel, a sales executive with Nkoyo Home and Kitchen Appliances, said LCCI had failed to accord the exhibitors some sense of respect in spite the exorbitant rent for exhibitors’ stand.

    He pleaded that the rents be given a downward review during subsequent fairs to enable exhibitors get larger portions of land to displace their stocks approximately.

    “The fair has been good so far, but we want the stands to be reduced for us next year so that we can afford to get sufficient space to display our stocks.

    “The LCCI officials at the complaint room have not been friendly at all and I know it is because LCCI know that we are bound to have complaints that was the reason the desk was created.

    “But each time we make our complaint, it is always demoralising responses we get, though such complaints are often treated, but they need to learn how to address exhibitors politely,” he said.

    Mr Richard Ibe, a generator dealer, said that the fact there were many vacant stands on the fairground indicated that most people could not afford the rents this year.

    He said the leasing rents had always been on upward increase, saying he paid N900, 000 last year, but now parted with N1.6 million for the same portion of space.

    “LCCI must look into this constant increase in leasing fee because this will affect our businesses at the long run,” he said.

    Mr Onyekachi Ezenwa said that as much as LCCI would continue to increase leasing fee for stands, it must also consider intensifying effort in improving traffic to the fair for bountiful sales.

    According to him, LCCI has not made enough publicity for the fair which was very obvious in the sales generated so far.

    He said when this is done, exhibitors would not be groaning to pay because they know their money would be recovered right on the fairground.

  • ‘Lagos Land Use Charge Law failed basiç legislative procedure ‘

    ‘Lagos Land Use Charge Law failed basiç legislative procedure ‘

    Nigeria’s Organised Private Sector (OPS) on Friday said the controversial Land Use Charge Law failed to meet basic legislative procedure before it was ratified by the Lagos House of Assembly.

    In its submission at a stakeholders forum on the new law organised by Lagos Chamber of Commerce and Industry (LCCI), the OPS said Lagos lawmakers ignored public outcry against it.

    Mr Timothy Olawale, OPS representative, said that the OPS was given less than five minutes to express their concerns during the public hearing on the review of the law.

    “The heaŕing was like a premeditated arrangement; the lawmakers failed to take into account public outcry against the review given the effect it would have on property owners, going by depreciation and devaluation of naira.

    “We wrote a letter as a follow up to the public hearing stating our position, still it was ignored,” he said.

    The OPS said that the citizens should not be held liable for government’s negligence to review the law every five years as stated in the provision of the law.

    “Government is toying with people’s lives and survival of businesses. Things are pretty hard, and perhaps because you are on the other side, you do not know.

    “Businesses are barely surviving. The income of Nigerians in the past five years, salaries and rental income alike, has been bastardised by inflation rate.

    “We learnt that since the law was passed, many property owners had developed hypertension because the assessed value of property has also been reviewed upwardly by over 500 per cent,” he said.

    The OPS said that government’s failure to review the law in the past 15 years notwithstanding, any increase above 100 per cent was unacceptable.

    The News Agency of Nigeria (NAN) reports that OPS comprises of Manufacturers Association of Nigeria (MAN), Nigeria Employers’ Consultative Association (NECA), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

    Others are; National Association of Small and Medium Scale Enterprises (NASME) and National Association of Small Scale Industries (NASSI).

    NAN reports that Lagos State Government recently repealed its 2001 Land Use Charge Law, and replaced it with a new Land Use Charge Law, 2018.

    The State House of Assembly had passed the bill on Jan. 29, while the Governor signed it into law on Feb. 8.

    Also commenting, Dr Dotun Bamigbola, Vice President, Nigerian Institution of Estate Surveyors and Valuers, recommended upward review of Relief Rate to accommodate provision for maintenance cost and other outgoing.

    He noted that most owners could only pay from property income, and proposed that charge rate should take cognisance of rental trend which in most locations was stagnant or going southward.

    Earlier, Mr Akinyemi Ashade, Lagos State Commissioner for Finance, said that the law would entrench a regime of self-assessment that allows property owners to make their own calculation and know their rate with the help of professional valuers.

    Ashade said that various reliefs had been made available to payers, including a general 40 percent relief for all property liable to LUC payment.

    NAN reports that the stakeholders erupted in uproar of displeasure several times during the commissioner’s presentation while some stormed out of the conference hall.

    The LCCI spokesperson, Segun Alabi, on several occasion entreated the stakeholders to maintain decorum while the forum lasted.

    Read Also: Land Use Charge: Lagos govt faults ‘outrageous amount in circulation’

  • LCCI holds forum to renegotiate concerns in Lagos Land Use Charge

    LCCI holds forum to renegotiate concerns in Lagos Land Use Charge

    The Lagos Chamber of Commerce and Industry ( LCCI ), is set to hold a dialogue session that will renegotiate grey areas in the new Land Use Charge Law of Lagos State.

    This was disclosed in a statement signed by Mr Muda Yusuf, Director-General of LCCI on Friday in Lagos.

    Yusuf said that the session, scheduled for March 9, would examine the provisions of the recently-passed law viz-a-viz its implications for residents and businesses operating in Lagos State and its environs.

    “In continuance of its Public Policy Advocacy Initiative, it behoves the LCCI to provide a platform, such as this, to aggregate the views of stakeholders (both public and private) on the new Land Use Charge Law in Lagos, which has generated heated debates in the public space.

    “This platform will enable stakeholders in Real Estate, Construction and other related sectors to engage the Lagos State Government on the recently-passed Law and re-negotiate its grey areas,” he said.

    Yusuf added that seasoned Professionals, Leaders of Businesses in the Private Sector and top Public Sector Officials would be available to dialogue with participants at the event.

    Lagos State Government recently repealed its 2001 Land Use Charge Law, and replaced it with a new Land Use Charge Law, 2018.

    The State House of Assembly had passed the bill on Jan. 29, while the Governor signed the bill into law on Feb. 8.

    Based on this law, new rates were sent to residents and those that have received their bills claim that the land use charge was an increase of between 150 and 300 per cent over the 2017 rates.

    NAN

  • We’ll do things faithfully in Buhari’s govt, says Osinbajo 

    We’ll do things faithfully in Buhari’s govt, says Osinbajo 

    Vice President Yemi Osinbajo on Tuesday said that the Buhari administration, in line with its Economic Recovery and Growth Plan, would continue to ensure the implementation of policies to drive socio-economic growth and prosperity.

    He made the remark while receiving a delegation from the Lagos Chamber of Commerce and Industry (LCCI) at the Presidential Villa, Abuja.

    Osinbajo in a statement by the Senior Special Assistant on Media and publicity, Laolu Akande, said “I think that no one is in doubt that we have very great policies and we will ensure that these things are implemented and are done as faithfully as possible,”

    He also said that the private sector in Nigeria will continue to play a prominent role in the economic programmes and initiatives of the Buhari administration.

    He noted the significance of private sector investment in the economy, adding that collaboration between the Federal Government and the private sector will further boost the country’s economic progress.

    “If you look at our economic programmes and several other initiatives, the private sector plays a prominent role in them, and that is how it should be. So there is no question that the roles the LCCI and private sector play are critical to the kind of development policies and plan that we have in this government.”

    The Vice President commended the LCCI for its Presidential Policy Dialogues on the economy, which he noted has helped in shaping some initiatives and policies of government.

    Prof. Osinbajo further said that the Buhari administration will continue to have robust engagements and work with the private sector and stakeholders in developing plans for implementation of several economic projects.

    He also pointed out that, in conjunction with the private sector, the Federal Government is resolving the Apapa, Lagos traffic gridlock.

    In his remarks, the leader of the delegation and LCCI President, Mr. Babatunde Ruwase, commended the Buhari administration for its laudable economic initiatives which he said has made Nigeria a more investment friendly destination.

    He said, “We appreciate the series of Executive Orders focused on promoting the ease of doing business in the country. These orders are impacting positively on the business environment and promoting an inclusive economy through the scaling up of the local content in government expenditure.”