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Lagos Chamber of Commerce and Industry

Lagos Chamber laments untapped agricultural sector

The chamber stated that Africa’s largest country by market size is gradually getting the attention of international investors keen to maximize profits from the country’s vast natural resources such as fertile land and export crops including sesame seeds, cashew nuts, cocoa beans, groundnut, rubber, timber, yam and sorghum among others.

Lagos, LCCI task stakeholders on agribusiness opportunities

The Lagos State Government and the Lagos Chamber of Commerce and Industry (LCCI) have charged farmers and all stakeholders in the agricultural sector on the need to explore the numerous opportunities that abound in agribusiness.
The Lagos State Governor, Babajide Sanwo-Olu, has directed the reopening of markets on selected days in the state.

Mixed reactions trail Lagos guidelines on re-opening economy

Varied reactions greeted Friday’s roll-out of guidelines for Lagos State post-lock down businesses re-opening by Governor Babajide Sanwo-Olu.
Mr Bayo Olugbemi has been sworn in as the 21st president-chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN).

Bayo Olugbemi sworn in as new CIBN president

Mr Bayo Olugbemi has been sworn in as the 21st president/chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN).
NECA’s Director-General, Mr Timothy Olawale, who made the call on Tuesday in Lagos, called for more specific and direct business sustainability schemes, to save the private sector.

2020 budget: OPS backs proposed $20 oil price benchmark

Members of the organised private sector (OPS) and some analysts have hailed the plan by the federal government to further review downward the oil price benchmark in the 2020 budget to $20 per barrel.
Mrs Toki Mabogunje, President LCCI said this at the Chamber’s second quarterly briefing on the state of the economy on Tuesday in Lagos.

Lagos chamber educates private sector on post coronavirus economy

The Lagos Chamber of Commerce and Industry (LCCI) has advised organised private sector to leverage creativity and innovation to rebuild a competitive economy post-COVID-19.

LCCI asks NNPC to back up reformed petroleum downstream sector with law

The Lagos Chamber of Commerce and Industry (LCCI) has charged the Nigerian National Petroleum Corporation (NNPC) to consummate its process of reforming the petroleum downstream sector with an appropriate legislative framework, stating that with the legal framework, the reform would not be like the previous dead initiatives.

Coronavirus: Stakeholders differ on impact of Nigeria’s central bank stimulus

Stakeholders in the organised private sector (OPS) have expressed divergent views on the use monetary intervention to mitigate the impact of the global Coronavirus (Covid-19) pandemic on businesses in Nigeria.
A new Chinese coronavirus, a cousin of the SARS virus, has infected hundreds since the outbreak began in Wuhan, China, in December.

Coronavirus: Manufacturers, importers, others lament impact of disease on Nigerian economy

With the Coronavirus (Covid-19) outbreak in China, there are indications that the country’s agro-allied, manufacturing sectors and dealers on various products have put on hold the importation of several production raw materials, consumable items coming from China.

Saudi’s oil price war may push Nigeria’s economy into recession

Saudi Arabia’s launch of an aggressive oil price war targeting its biggest rival producers after Russia refused to join production cuts with OPEC, will hit the economy of weaker oil-dependent producer like Nigeria particularly hard, as it has little scope to increase output and less ability to borrow to plug budget shortfalls.

Lagos Chamber: Nigeria’s growth rate can’t address job, poverty crisis

The Lagos Chamber of Commerce and Industry (LCCI) rated the latest 2.27 per cent Gross Domestic Product (GDP) growth recorded in the nation’s economy as sluggish and incapable of creating jobs and lifting millions of Nigerians out of the poverty trap.

Lagos promises to ease ways of doing business

The Lagos State Government on Thursday promised to ease the way of doing business in the state through exploration of opportunities that would enhance synergy between it and the business community.
The African Export-Import Bank (Afreximbank) says it is providing one billion dollars grant to African countries to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA).

Stakeholder, experts identify challenges to implementation of AFCFTA

Ahead of the implementation of the African Continental Free Trade Agreement (AfCFTA) in July, the Nigeria’s industrial sector has identified the need for the country to address current market challenges to ensure its gets benefits of the agreement.
Senate President Ahmed Lawan

Power minister, NERC, DisCos, others to face Senate over electricity tariff increase

Barring any last minute change of mind, the Senate may have resolved to summon stakeholders in the electricity sector over the proposed unilateral increase in electricity tariffs.

Lagos chamber calls for ‘holistic’ reform of power sector

Lagos Chamber of Commerce and Industry (LCCI) has charged the Federal Government to go for a holistic reform of the nation’s power sector instead of embarking on tariff increase as being proposed.

LCCI releases economic outlook for 2020

The Lagos Chamber of Commerce and Industry (LCCI) has projected a high cost of doing business in 2020.

Yuletide: Prices of yam, others increase by 7.8 percent

Prices of four food items including tomatoes, yam, rice, agric eggs and local eggs increased by 7.8 per in November data from the National Bureau of Statistics have shown.
Along with Benin, Niger, which shares a 1,500-kilometre (900-mile) border with Nigeria, has been badly hit by the closure of Nigeria’s border.

Border closure: Businesses’ll continue to suffer – OPS

As the Federal Government says there is no terminal date for the reopening of the borders with its West African neighbours, the organised private sectors have said that exporters and businesses will continue to suffer.

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IPOB leader condemns appointment of EFCC chairman from North

The Indigenous People of Biafra (IPOB) has condemn the continued appointment of chairman of the Economic and Financial Crimes Commission (EFCC) from the northern part of the country.
The State Acting Commissioner for Agriculture, Ms Abisola Olusanya, in a statement on Sunday said that planting of fruit trees in schools was also to encourage students to become healthy, productive and maintain a sound environment.

Lagos to train 450 entrepreneurs in coconut waste to wealth initiative

The Lagos State Government (LASG) says it will start a five-week intensive training on July 13 for no fewer than 450 young entrepreneurs on the use of coconut waste in arts and craft.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

American lady locked up in Lagos hotel for 16 months rescued

Police operatives attached to the Intelligence Response Team (IRT), Ogun State Annex, have successfully rescued an American citizen who was confined in a Lagos hotel where she was held against her wish for over a year.
Operatives of the Nigeria Police Cybercrime Unit, INTERPOL National Central Bureau (NCB), Abuja have arrested three suspects; Samson Inegbenesun, 30; Blessed Junior, 32 and Muhammed Zakari, 36, all male from Uromi in Edo State, for cyber-related offences including advance fee fraud, money laundering and romance scam. The suspects were arrested in Uromi, following investigations into suspected fraudulent online procurement and supply of COVID-19 protective mask, received through the INTERPOL NCB Wiesbaden, Germany.

Interpol Abuja arrest three cybercrime suspects, whose activities extend to Europe

Operatives of the Nigeria Police Cybercrime Unit, INTERPOL National Central Bureau (NCB), Abuja, have arrested three suspects; Samson Inegbenesun, 30; Blessed Junior, 32 and Muhammed Zakari, 36, all male from Uromi in Edo State, for cyber-related offences including advance fee fraud, money laundering and romance scam. The suspects were arrested in Uromi, following investigations into suspected fraudulent online procurement and supply of COVID-19 protective mask, received through the INTERPOL NCB Wiesbaden, Germany.
Ibrahim Magu

Ibrahim Magu accused of turning EFCC into ‘glorified police station’

The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has allegedly been accused of turning EFCC into 'glorified police station' for alleged selfish motives.