By Merit Ibe
The Lagos Chamber of Commerce and Industry (LCCI) has evaluated the unintended adverse effects of the #EndBadGovernance nationwide protests on businesses and society and charged President Bola Tinubu’s administration to urgently formulate policies and programmes that will deliver tangible benefits to citizens.
The Director General of the chamber, Dr. Chinyere Almona, highlighted the critical necessity for prompt action, pointing to several key areas that need immediate attention: the cost of doing business, cost of living (especially food security), and youth unemployment. These factors are intricately linked to broader issues such as poverty, inflation, hunger, and crime.
Almona urged the government to fast-track youth-oriented programs, particularly those focused on Technical and Vocational Education and Training (TVET). By enhancing TVET skills acquisition, the government can empower the youth to seize emerging opportunities, thereby addressing the chronic issue of unemployment.
The LCCI also reiterated the importance of providing single-digit interest loans to large manufacturers and supporting small businesses with grants and low-interest loans. These financial measures are crucial for fostering a conducive business environment and stimulating economic growth.
Additionally, Dr. Almona proposed practical solutions, such as the distribution of Compressed Natural Gas (CNG) kits to commercial vehicles. This initiative would not only support the transport sector but also contribute to environmental sustainability.
The LCCI emphasised the need for clear timelines, a collaborative approach to policy planning, and regular stakeholder engagement with the business community, media, and grassroots organizations. Such a strategy would ensure that government initiatives are well-coordinated and effectively implemented.
The chamber’s statement underscores the paramount importance of ensuring that government policies and programs have a direct, positive impact on citizens’ lives, particularly in areas such as business, employment, and education.
By urging the government to take swift and decisive action, the LCCI aims to promote economic growth, reduce poverty and inequality, and foster a more inclusive society.