Economy facing challenges, says LCCI

President, Lagos Chamber of Commerce & Industry (LCCI), Dr. Michael Olawale-Cole, has lamented the state of the economy.

He said the economy has been inundated with problems among which are oil theft, unsustainable subsidy regime, insecurity, and foreign exchange crisis.

He stated this at the Private Sector Economic Forum for next year’s Presidential Election held at the Chamber’s headquarters in Victoria Island, Lagos.

He said, however, that despite the challenges, the future remained bright for the economy

Olawale-Cole said while the chamber is non-partisan, they are, however, interested in the economic agenda of the candidates and their plans to make a better Nigeria in the next dispensation.

According to him, the chamber is aware of the effect of politics over economics in managing the economy and would, therefore, wish to contribute to the setting of a new economic order that can take our economy from the doldrums.

Canvassing the need for new policy direction, institutional reforms, and sound governance, he stressed that they are critical to creating a new economic order in the nation.

He recalled that in the past 16 years; the LCCI has organised this session in every election cycle.


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