Business
LCCI Seeks Stakeholders Support On Economic Diversification
The Lagos Chamber of
Commerce and Industry ( LCCI) is seeking the support of critical stakeholders on the economic diversification for long term sustainability of the nation’s economy.
Speaking to newsmen in Lagos on Monday, the LCCI Director-General, Muda Yusuf said that the nation’s economy has been witnessing oil price shocks leading to exchange rate volatility and forex market crisis since mid-2014.
Yusuf said Nigeria’s over dependence on dwindling earnings from hydrocarbon has threatened government revenue with extended consequences of slowing growth, rising unemployment completing external reserves and higher cost of doing business.
He said that the LCCI would critically examine the impact of the country economy over dependence on dwindling oil revenue through a proposed stakeholders forum being organised by the LCCI in partnership with price water house coopers (PWC) Nigeria, tomorrow.
The LCCI boss said that the objective of the forum is critically looked at the state of the economy by identifying the present economic problems and presenting alternative sources of revenue to government. He said the stakeholders forum would bring together key government agencies and major players in the various sectors of the Nigerian economy.