The Lagos Chamber of Commerce and Industry (LCCI) is set to produce a report on the economy of Nigeria as it recently signed a Memorandum of Understanding with global research and advisory firm, Oxford Business Group (OBG).
The publication titled The Report: Nigeria 2020, is said to highlight major sectors of the economy especially those ripe for investments as the country steps up its bid to reduce its reliance on oil revenues.
The report will also be focusing on the key roles an infrastructure drive planned for the agricultural, manufacturing and service industries is expected to play in attracting new investors and boosting inflows. This will be examined alongside the country’s efforts to develop the green energy segment which is being primed to play a pivotal part in boosting power provision.
Speaking on the work and partnership with OBG, the LCCI Director-General, Muda Yusuf said he was actively looking forward to working with the team on the new project so as to share results with the global investment community at large. He said the work was a product of the culmination of more than 10 months of field research by a team of analysts from Oxford Business Group.
The OBG’s Country Director, Christophe Bonami also spoke on the partnership while stating that these were exciting times for Nigeria, as the country looks to bridge infrastructure gaps, encourage innovation and galvanize growth outside of the oil sector.
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What you should know: This disclosure of an economic report is coming not long after President Muhammadu Buhari was quoted to have said that the country’s economic data were of wild estimates and were not reliable because they were cast abroad by World Bank, International Monetary Fund (IMF), and other foreign bodies and so should not serve as a true reflection of happenings in the country. This statement has since generated various views from people around the country.