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Nigeria’s investment climate improving —LCCI boss

From right: Deputy, President, Lagos Chambers of Commerce and Industry (LCCI), Babatunde Runwase presenting a plaque to Deputy Governor, Ogun State, Yetunde Onanuga; Commissioner for Commerce and Industry, Ogun State, Abimbola Ashiru and Vice-President/Chairman, Trade Promotion Board, LCCI, Sola Oyetayo, at the Ogun State Special Day, held at the on-going 2016 Lagos International Trade Fair held on Tuesday in Lagos. Photo: Sylvester Okoruwa.

Contrary to widely-held belief that the nation’s economy and its business climate  are experiencing a decline, a two-time minister and President, Lagos Chamber of Commerce and Industry (LCCI),  Dr (Mrs). Nike Akande has stated that investment climate is gradually improving in the country.

Speaking at a business forum, on Wednesday, in Lagos, venue of the Investment Conference, as part of this year’s ongoing Fair, the LCCI boss attributed the notice-able improvements to the present renewed investments in some critical infrastructure such as rail transport and ongoing reforms in the nation’s ports, by the government.

She also noted that the nation’s regulatory environment is being strengthened with the fight against corruption,  with the introduction of Code of Corporate Governance and the successful passage of a bill to establish a Federal Competition and Consumer Protection Commission, aimed at abolishing monopolies in the country.

According to the two-time minister, the World Bank’s Doing Business 2017 Report  also showed a marginal improvement of the nation’s ranking at 169 from 170, recorded last period.

“Our president recently established the Presidential Enabling Business Environment Council under the chairmanship of the Vice President, Prof. Yemi Osinbajo, and we hope to see more improvements in our ranking in the coming years,” she stated.

The LCCI boss called on government to put in place a conducive policy and business environment where investments would be able to thrive.