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MAN, LCCI others blame recession on coronavirus, #EndSARS crisis

Nigeria has formally entered its second economic recession in five years as the severe impact of the COVID-19 pandemic on global crude oil prices and restrictions imposed to curb the virus caused the nation’s economy to contract for the second consecutive quarter by 3.62 percent in the third quarter of 2020.

Recession: The worse may be possibly over – Lagos chamber

The Lagos Chamber of Commerce and Industry (LCCI) says the nation’s economic contraction of 3.62 per cent of the third quarter against the 6.1 per cent of the second quarter of the year may indicate that the worst is over.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Lagos chamber advises central bank on tackling inflation

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to address the supply side variables impacting domestic prices.

Fasttrack domestic refining capacity to end unstable petrol pricing – LCCI chief

The Lagos Chamber of Commerce and Industry (LCCI) says accelerated domestic refining and processing of petroleum products would end the unstable petroleum pricing in the country, Dr Muda Yusuf, Director-Genera of the Chamber, said in an interview with newsmen on Saturday in Lagos.

#EndSARS: Lagos Chamber reschedules international trade fair

Dr Muda Yusuf, Director-General of LCCI, said that the fair which was scheduled to hold from Nov.5 to Nov. 15, 2020 has been rescheduled for between Dec. 4 to Dec. 13, 2020 at the Tafawa Balewa Square, Lagos; both physically and virtually simultaneously.
The Lagos Chamber of Commerce and Industry (LCCI) said that the Nigerian economy has lost over N700 billion to the #EndSARS protests over the last 12 days.

#EndSARS protests: Nigeria loses N700 billion in 12 days – Lagos Chamber

The Lagos Chamber of Commerce and Industry (LCCI) said that the Nigerian economy has lost over N700 billion to the #EndSARS protests over the last 12 days.

Lagos Chamber backs subsidy removal, appeals to NLC on industrial action

The Lagos Chamber of Commerce and Industry (LCCI), has said that a reversal of the current reforms on subsidy of Premium Motor Spirit (PMS) would exacerbate the challenges of the already faltering Nigerian economy.
Zainab Ahmed

Nigeria’s recession will be short-lived – minister

This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.

Lagos Chamber set to interrogate Nigerian government’s economic interventions

Against the backdrop of the COVID-19 pandemic, the Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to host a virtual conference on the economic intervention initiatives of the federal government with a view to charting the way forward.
Vice President Yemi Osinbajo.

Nigerian government will use part of N2.3 trillion ESP stimulus as buyer of last...

The Federal Government will use part of the N2.3 trillion stimulus package to purchase locally produced items as buyer of last resort in line with its Economic Sustainability Plan, according to Vice President Yemi Osinbajo, SAN.

NIPOST: Lagos chamber wants regulatory framework reviewed

The Lagos Chamber of Commerce and Industry (LCCI) has called for the review of the regulatory framework of the Nigerian Postal Service (NIPOST) in the interest of the Nigerian economy, business continuity, private sector development and job creation.
Lagos State Governor, Mr Babajide Sanwo-Olu has appointed Dr. Emanuella Zamba as the new Acting General Manager for Lagos State Health Management Agency LASHMA.

Lagos governor approves N1 billion seed capital for hospitality business

Lagos State Governor Babajide Sanwo-Olu has approved N1billion seed capital for investment in tourism as a loan. Sanwo-Olu announced the approval on Wednesday, at the 6th Lagos Corporate Assembly, held at the Banquet Hall in the State House, Alausa, Ikeja.

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.
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.

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