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By Merit Ibe
The Lagos Chamber of Commerce and Industry (LCCI) has commended the Federal Government on its participation at the just concluded G20 Summit in New Delhi, India, calling for the establishment of dedicated websites to provide useful information on areas of investments in the country.
President of the Chamber, Dr Michael Olawale-Cole, who made the call said Nigeria’s invitation to the Summit shows the nation’s strategic importance on the global stage and its capacity as the largest democracy and economy in Africa.
He applauded President Bola Tinubu’s expression of Nigeria’s commitment to play a significant role within the G-20 and contribute to shaping a more equitable world.
He noted that the outcome of President Bola Tinubu’s meetings with leaders of the US, Germany and South Korea, alongside Indian investors, who committed to providing a substantial sum of $14 billion in direct investments in critical sectors encompassing steel, petrochemicals, electricity and agriculture, have instilled a sense of pride in the Organised Private Sectors (OPS) and Nigerians at large.
“These proposed investments are certain to have positive impacts on job creation, economic development and the diversification of the nation’s economy.
Olawale-Cole, said the establishment of the dedicated websites that provide useful information on investments, saying these websites would include details on the areas in which investments are required and the funds needed for each project.
“LCCI would appreciate if it would follow the example of India, Saudi Arabia and China by establishing dedicated websites that provide useful information on investments.
“These websites should include details on the areas in which investments are required and the funds needed for each project. This strategy has the potential to provide global investment opportunities without necessitating excessive or unnecessary physical interactions/ movements.
“In addition, domestic players in each area will be provided with the chance to get accurate knowledge on the current industry status, including the projected number of agreements and investments in each sector. Such platforms will function as reliable information and metrics for evaluating performance and as a foundation for developing policies aimed at incentivizing industries that lack investment interest.”
The Chamber expressed its satisfaction with the bestowal of permanent member status upon the African Union by the G-20, a development that will enhance the continent’s influence and participation in global governance.
“The President is on course in addressing issues confronting us as a nation and the Organised Private Sector in Nigeria supports these actions.
The Chamber also congratulates the President on his 100 days in office and urges him to remain focused on his efforts to make both private and public sectors in Nigeria work well for the people.”
