Tinubu’s ambitious economic roadmap unveiled: LCCI applauds bold agenda
By Ojuri Iyanuoluwa Ayomide
The Lagos Chamber of Commerce and Industry (LCCI) has expressed its commendation for President Bola Ahmed Tinubu’s recent efforts in steering the nation’s economic direction.
The LCCI’s praise comes in the wake of the inaugural Meeting of the Federal Executive Council (FEC) and the subsequent policy outcomes. The Chamber has expressed its commendation for the roadmap that highlights critical areas such as food security, poverty eradication, economic growth, and job creation.
During the inaugural Meeting of the Federal Executive Council (FEC), President Tinubu outlined his comprehensive vision which encompasses crucial facets such as food security, poverty alleviation, economic expansion, and job creation. The plan also emphasizes improved access to capital, inclusivity in all dimensions, bolstered security, a level playing field for businesses, the rule of law, and a resolute stance against corruption.
Despite acknowledging the monumental challenges and expectations ahead, the LCCI remains optimistic about the impact of these policy thrusts. The Minister of Finance and Coordinating Minister of the Economy have candidly discussed the enormity of the task at hand. However, Nigerians, both individuals and corporations, hold high hopes for tangible results in exchange for their enduring sacrifices.
Of paramount importance is the administration’s commitment to generating 50 million jobs. The LCCI emphasises that this target should be more than a mere statement; it must be backed by tangible actions. The key lies in nurturing a thriving private sector, as it holds the potential to be a steady source of employment opportunities.
Anticipating further clarity on the roadmap, the LCCI anticipates clear articulation of priority areas by various Ministries, coupled with strategic initiatives featuring well-defined timelines and assigned responsibilities.
Moreover, the Chamber expects the government to establish key metrics, focusing on growth, job creation, poverty reduction, and investment attraction, to evaluate the impact of these initiatives.
However, to sustain macroeconomic stability, the Chamber recommends agile fiscal and monetary policy measures. Special attention should be given to managing inflation, addressing high interest rates, and resolving foreign exchange shortages.
The LCCI further encourages a policy concentration on sectors that have the potential to generate substantial employment opportunities.
