The President of the Lagos Chamber of Commerce and Industry (LCCI), Babatunde Ruwase, has urged the government to create the right economic policies that will boost investors’ confidence in the country.
This plea was made by the LCCI boss at the opening ceremony of the 33rd Lagos International Trade Fair, Tafawa Balewa Square, Lagos on Friday.
Why this matters: Ruwase noted that no economy could thrive without a good composition of trade and commerce. Hence, he called on the government to create more opportunities for its rapidly growing population.
He also advised the government to support the growth of Small and Medium Enterprises which will, in turn, drive employment. Highlighting the importance of the trade fair which is already in its 33rd year, he said the fair was an avenue for producers, service providers and end-users to converge.
Ruwase words: “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.”
The LCCI boss concluded his remarks by restating the vision of the chamber which was dedicated to promoting trade and bilateral relations as well as creating favourable business conditions for all stakeholder in the country.
What you should know: The Lagos International Trade Fair is the largest international trade fair in Nigeria which is supervised by LCCI in collaboration with other stakeholders. The fair, according to the Managing Director of MD Perspective Nigeria Limited, Morenike Dele-Alimi, would partner with the United Asia International Exhibition Group (UAEC) and others. It would host over 1,000 exhibitors, comprising local and international participants. It is a 10-day event.