Recession: Address infrastructure deficit, LCCI advises state, federal governments

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The Lagos Chamber of Commerce and Industry has advised the local, state and federal governments to address the nagging issue of infrastructure deficit in order to attract local and foreign direct investment.

The President of LCCI, Mrs Toki Mabogunje gave this advice during the closing of the 34th edition of the Lagos International Trade Fair at Tafawa Balewa Square in Lagos on Sunday.

It was organised by the chamber.

Mabogunje noted that this became necessary in order to ensure diversification of the economy and welfare of the citizens.

She said, “It is our hope that the governments at all levels would continue to address the issues of enabling environment in the country, especially as regards infrastructures.

“We need to do this in order to fully harness the huge enterprising resource of domestic and foreign investors for the diversification of our economy and the welfare of our people.”

She thanked God for the successful hosting of the 2020 edition of the fair, given the limitations posed by the coronavirus pandemic.

While Mabogunje acknowledged the remarkable cooperation and support received from all stakeholders, she commended President Muhammadu Buhari, for gracing the opening ceremony of the fair.

 He was represented by the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo.

She equally appreciated the Governor of Lagos State, Mr Babajide Sanwo-Olu for his disposition and commitment to the promotion of close collaboration between the state government and the organised Private Sector.

She added, “Let me also express our profound appreciation to our official partners and sponsors.

“Distinguished Ladies and Gentlemen, I wish to place on record the impressive role played by the members of the Trade Promotion Board of the Lagos Chamber, under the able leadership of the Chairman, Mr Gabriel Idahosa, FCA.

“The result of their commitment is the remarkable outcome that we have all witnessed for the past nine days. It is no doubt a very demanding project.”

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