The Lagos Chamber of Commerce and Industry has expressed concern over the unintended negative impact of the ongoing #EndBadGovernance nationwide protest on businesses and the society at large, calling for urgent and more action for people to see the effects of government’s policies.
This was contained in a press statement signed by the Chamber’s Director General, Dr. Chinyere Almona, on Tuesday.
Almona said beyond the highlights of the achievements so far by the government, there is the need for more urgent action to take to ensure that the citizens start to see and feel the policies and programmes in action without any further delays.
She cited, for instance, that all the import waivers and tax exemptions should take immediate effect so that businesses and individuals start to enjoy the concessions.
Almona advised on critical variables, including the cost of doing business, cost of living (food security), and youth unemployment, calling on the government to focus and report progress on these variables that are seen to have links to many other issues in the economy like poverty, high inflation, increased hunger, heightened crimes and others.
On the other hand, LCCI boss advised that all youth-oriented programmes be fast-tracked, such that more youths are rapidly engaged, and others are hopeful of near-term opportunities.
She noted: “Apart from the support to academic pursuits through the student loan programme, we have always recommended that government-supported Technical and Vocational Education (TVET) skills acquisition is known to have huge capacity to develop and empower our youth to take up emerging opportunities.
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“Technology, creativity and the arts provide great opportunities that can gainfully engage our youth, home and abroad.”
The Chamber reiterated the importance of quickly implementing the single digit loans to large manufacturers to boost manufacturing output and stimulate growth, as well as the support to small businesses in terms of grants and low interest loans.
Almona declared that with the prevailing high interest rate, companies find it too expensive to access credit from the banks.
She added: “One quick fix is the distribution of the million Compressed Natural Gas (CNG) kits at extremely low or no cost to commercial vehicles that transport people and goods and who currently consume 80% of the imported PMS and AGO, according to the President.
“This must be expedited.”
LCCI maintained that the government should pay stern attention to the implementation and coordination of highlighted programs as this has always posed a challenge.
It stressed that the government needs to be more time-sensitive and have clear timelines for implementing policies and programmes, noting that it looks forward to see a more collaborative approach to policy planning and implementation as being crucial from now on.
“Regular stakeholder engagement with the business community, the media and grassroot mobilisation structures is advised,” Almona stated.
Mixed reactions have trailed President Bola Tinubu’s address.
While many have declared that the speech was empty as it didn’t address the expectations of the protesters, many have also called on the organisers to embrace the dialogue the President has called for.
