LCCI's Kupoliyi Calls for Action on Energy Costs and Growth

The Lagos Chamber of Commerce and Industry (LCCI), represented by President Engineer Leye Kupoliyi, stated that persistent energy costs, expensive financing, weak purchasing power, logistics inefficiencies, infrastructure deficits, insecurity, and regulatory challenges are significantly constraining the productive sector of Nigeria's economy. During a review of the nation's economic state in Lagos, Kupoliyi emphasized that the primary challenge for the final quarter is ensuring macroeconomic improvements benefit businesses and households.

He urged the government to focus on six priorities to foster economic growth, including reducing the cost of doing business, strengthening manufacturing and SMEs, improving access to productive credit, lowering logistics costs, and creating a predictable regulatory environment. Kupoliyi also called for a coordinated program to lower energy and logistics costs, advocating for improved electricity reliability and transport infrastructure.

He stressed the importance of maintaining an open relationship with organized business to enhance investment, employment, and government revenue.