Tag: Lagos Chamber of Commerce and Industry (LCCI)

50 Companies Fold Up In Nigeria As Investment Crashes by 56%

ADEOLA YUSUF

50 firms close in 7 years of bad government policies Investment in manufacturing has reduced 56 per cent in seven years, and 50 such firms have shut down since 2017, a real sector buffeted on all sides by a plethora of bad government policies coupled with economic headwinds. Manufacturing firms that have closed shop in the past five years include Surest Foam Limited, Mufex, Framan Industries, MZM Continental, Nipol Industries, Moak Industries, and Stone Industries. Investment by those still standing has dived south, from N489.44 billion in 2016 to N217.22…

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EndSARS: Nigeria lost N700bn In 12 Days – LCCI President

Precious Ibekwe

Nigerian economy has lost over N700 billion to the #EndSARS protests over the last 12 days, the Lagos Chamber of Commerce and Industry (LCCI) has said. President, LCCI, Mrs Toki Mabogunje, said this while reviewing the economic implications of the protest in a statement. She noted that LCCI appreciates the value of citizens’ engagement and the demand for accountability which the protest  represents, but lamented the negative impact on the economy. Mabogunje stated: “These are in consonance with democratic norms.  They also form vital ingredients for good governance. “LCCI is,…

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