LCCI Highlights Key Sectors for Nigeria's Economic Growth

The Lagos Chamber of Commerce and Industry (LCCI), represented by President Ley Kupoluyi, has identified key sectors such as agriculture, manufacturing, energy, and infrastructure as pivotal for Nigeria's sustainable economic expansion by 2026. During a press conference reviewing the Nigerian economy, Kupoluyi urged the federal government to address constraints within the manufacturing sector, which is projected to contribute N1.17 trillion in tax revenue by 2025, marking a 45.61% increase from N803.53 billion in 2024.

The LCCI called for significant investments in infrastructure and economic policies to drive growth, create jobs, and lower production costs. Kupoluyi highlighted the need for urgent economic diversification to reduce reliance on imports and strengthen domestic production capacity.

The chamber also emphasized the importance of improving crude oil supply and refining capabilities to stabilize the economy against external shocks. Furthermore, it pointed out the necessity for effective fiscal management and collaboration between the executive and legislative branches to ensure timely project completion.