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Economic recovery: LCCI seeks right policies for entrepreneurship

By Naomi Uzor

LAGOS Chamber of Commerce and Industry, LCCI, yesterday, called for stable policies and conducive regulatory environment to enable Nigerian entrepreneurs fully contribute to the recovery and growth of the nation’s economy.

•Nike Akande

Speaking at a United Nations event to mark micro, small and medium enterprises (MSMEs) Day in Lagos, President of LCCI, Chief Nike Akande, said there was need for a stable policy and regulatory environment that supports the reforms on ease of doing business in Nigeria.

She said:“Issues of taxation, trade and foreign exchange policies should be managed in line with international practices. This should take into consideration policies that facilitate trade, attract foreign investment and protect businesses from avoidable regulatory pressures. With the right policy environment and provision of needed infrastructure, Nigerian entrepreneurs are quite resourceful and diligent to fully contribute to the recovery and growth of the economy.”

Akande said the chamber is passionate at seeing the empowerment of the private sector to positively impact on job creation, poverty alleviation and supporting economic development.

In his remark, Director, United Nations Information Centre (UNIC), Mr. Ronald Kayanja, said MSMEs are the first to respond to societal needs and are responsible for significant employment and income generation opportunities across the world and have been identified as major drivers of poverty alleviation and development. “MSMEs tend to employ a larger share of the vulnerable sectors of the workforce, such as women, youth and people from poorer households. MSMEs can even sometimes be the only source of employment in the rural areas. Although MSMEs generate the most new jobs, they face many challenges in day-to-day operations,” he noted.









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