Business

LCCI Releases 2023 Mid-Year Economic Review and Outlook

Published

3 years ago

August 22, 2023

438 Views

The Lagos Chamber of Commerce and Industry (LCCI) and Cordros Capital have released
the consensus reached at the end of 2023 Mid-Year Economic Review and Outlook.

In the communique signed by LCCI President, Dr. Michael Olawale-Cole,
said that the LCCI, over the last 135 years, has consistently engaged the government and advanced the growth of the private sector and the overall Nigerian economy through regular reviews of the business and economic climate and policy advocacy.

He disclosed that
the consensus reached at the end of the Mid-Year Economic and Outlook are detailed below:

1.     Government should consider the urgent need for an all-encompassing economic and fiscal plan, full/ partial divestment of state-owned real estate, improved transport sector, and energy assets as post-election priorities.
2.     The government must focus more on asset-based and equity offerings to improve revenue.
3.     Institutional reorganization is urgently needed in the CBN and the NNPC to improve transparency and accountability.
4.     The operating environment of NNPCL is somewhat opaque, which is anti-competition. The oil sector will attract the desired investment if the government liberalizes fuel import licenses and other vital activities in the midstream and downstream.
5.     Government should unlock revenue from assets by complementing tax with rent, fees, dividends, and capital gains. Economies that optimize revenue through equities have recently offset the loss from declining commodity prices.
6.     The new administration is advised to borrow better to reduce debt costs by issuing a more asset-linked debt than IOUs. The non-interest-bearing debt opportunities should be explored as emerging markets tilt towards project equity financing.
7.     BDCs should not be referred to as parallel or unofficial markets, because they are officially licensed to trade.

Related Topics:LCCI Mid-Year Economic Review and Outlook

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NPA initiate trucks movement code to ease traffic at Lagos ports

The initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.

Published

20 hours ago

July 30, 2026

OCHEFA

24 Views

The Nigerian Ports Authority (NPA) has introduced a movement code to streamline the movement of empty containers into seaport terminals and reduce traffic congestion caused by container trucks along the Apapa and Tin Can Island port corridors.

The Guardian reported that under the new policy, the movement code will serve as a unique identifier generated by a holding bay for every empty container uploaded to the Electronic Call-Up (ETO) platform.

The code must correspond with the details captured on the ETO system before trucks are granted access to port terminals.

In a notice issued to stakeholders, the NPA said the movement code has become a mandatory requirement for completing the truck-container matching process.

Truck drivers are required to obtain the code from designated holding bays before proceeding to the ports.

According to the authority, the initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.

Business

Okonjo-Iweala lauds Cardoso for stabilising Nigeria’s monetary environment

Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”

Published

21 hours ago

July 30, 2026

OCHEFA

26 Views

The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has commended the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, for stabilising Nigeria’s monetary environment.

Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”

Speaking at the forum, Okonjo-Iweala commended Cardoso on the work that he and his team have done on currency and monetary policy stabilisation.

However, she emphasised that Nigeria must sustain broader macroeconomic reforms.

“Nigerians have to feel the dividends of reform in the real economy,” she added.

The forum brought together policymakers, business leaders and development partners to discuss strategies for strengthening Africa’s resilience amid growing global economic uncertainty.

Business

Naira Exchange Rates Thursday, July 30 : Black Market, CBN, Commercial Bank

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