The Industrial Group, in collaboration with the Export and Financial Groups of the Lagos Chamber of Commerce, has urged the government to consistently engage with industry stakeholders when formulating policies to support Nigeria’s industrialization efforts. The sectoral group believes that this collaborative approach will lead to robust, transparent, and inclusive policies that foster business growth and positively impact the national economy.
Mr. Ade Adefeko, Chairman of the Industrial Group of LCCI, noted that the Nigerian economy is in a challenging state, emphasizing the need for revival. He highlighted the symposium as a platform for discussing strategies to enable business growth and urged the government to create a supportive regulatory environment that enhances business operations.
On the panel, Mr. Vivian Ikem, Director of Corporate Affairs and Communication at JTI Nigeria, emphasized that while regulations are essential for improving the ease of doing business, they must be inclusive, fair, and balanced to truly support business growth. Ikem pointed out that the lack of engagement with relevant stakeholders and the inconsistency of regulatory policies and enforcement have been significant challenges for businesses.
In his welcome address, Mr. Gabriel Idahosa, President and Chairman of the Council at LCCI, expressed that the symposium represents a new step by LCCI to strengthen business operations and help Nigeria compete with other emerging economies. Idahosa also highlighted obstacles faced by industries, such as limited access to low-interest credit from financial institutions, regulatory uncertainties, foreign exchange challenges, and infrastructure deficits. He stressed the need for collaborative solutions to address these issues and propel industrial growth in Nigeria.