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By Merit Ibe
The Lagos Chamber of Commerce and Industry (LCCI) has urged the government to decisively tackle structural constraints that hindered inclusive growth in 2025, identifying this as a key priority for 2026.
The chamber said 2025 marked a turning point from crisis management to cautious macroeconomic stabilization, stressing that the task in 2026 is to move beyond stability and convert reforms into broad-based prosperity.
President of the chamber, Mr. Leye Kupoluyi, made this known in a statement themed: “Beyond Stability: Making 2026 the Year of Inclusive Growth.” He described 2025 as a year of tough reforms, resilience and modest economic recovery, but noted that fiscal execution challenges and rising debt-service obligations continued to threaten fiscal sustainability.
Kupoluyi explained that while GDP growth improved compared to 2024, budget implementation was constrained by transition-related pressures, and public debt dynamics remained a major risk to economic resilience.
He called on government to consolidate the gains of recent reforms while addressing the structural bottlenecks that limited inclusive growth in 2025.
The chamber commended foreign exchange reforms, noting that increased transparency and stability in the FX market have improved access to foreign exchange for businesses, supported raw material imports and helped ease import-driven inflation.
Looking ahead to 2026, the LCCI stressed the need for sustained coordination between fiscal and monetary authorities to entrench disinflation and gradually ease interest rates, thereby unlocking private sector credit and stimulating investment.
It also urged special focus on strengthening food supply chains through improved security, targeted agricultural support and better rural infrastructure.
According to the chamber, confidence in the FX market should be deepened through export diversification, support for non-oil exporters and the continuation of transparent, market-driven FX policies.
The LCCI further called for accelerated infrastructure development, particularly in power, transport and logistics, using public-private partnerships to reduce the cost of doing business and boost competitiveness.
It emphasized that effective and transparent implementation of the Tax Reform Act is critical to simplify compliance, reduce the burden on productive enterprises and broaden the tax base without stifling growth.
The chamber added that policies must deliberately promote inclusive growth by rebuilding household purchasing power, supporting pro-poor investments, strengthening social safety nets and accelerating job creation, especially for youths and SMEs.
It also identified boosting bank credit to the private sector as another key focus area, expressing optimism that easing interest rates by the Central Bank of Nigeria would support this objective.
“With disciplined policy execution, improved security, expanded infrastructure and a strong focus on inclusivity, Nigeria can make 2026 the year when the benefits of reform are truly felt by businesses and households,” the LCCI said.
