By Naomi Uzor

The Lagos Chamber of Commerce and Industry (LCCI) has said business confidence is key to attracting foreign direct investment into the country.

Speaking during the public presentation of the 2010 Lagos International Trade Fair (LITF) Prospectus, Vice President and Chairman, trade promotion board , Alhaji Aderemi Bello, said: “As the nation is striving to attract both Foreign Direct Investment (FDI) and indigenous investment in the country’s ailing economy, we must approach and do business in the most ethical manner that will engender mutual confidence in their intentions, policies and actions.

For our nation to be in the mainstream of the world economy, our economy must be driven by a mutually acceptable level of confidence both in the public and private sectors.”
He said the world is reeling from the effects of the global economic crisis and Nigeria is by no means exempted, adding that we must therefore demonstrate some level of confidence in the ability of our economy to withstand the challenges of recovery from the crises.

“We must show to the world the uniqueness and resilience of the Nigerian economy, showcase the unique selling points of our products and sharpen our competitive hedge to attract the type of investments that will move our economy out of the woods.

We have taken the bull by the horn and worked to overcome last year’s challenges. I am glad to inform you that this year’s fair will hold in nine exhibition halls and the adjourning outdoor spaces.

We have worked in tandem with the federal government concessionaire of the international trade fair complex to carry out renovation work at the complex and I can say confidently that the halls are ready for this year’s exhibition” he stated.