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LCCI Urges FG To Unveil Its Economic Blueprints by IBBG(m): 9:52am On Aug 06, 2015 |
—The Lagos Chamber of Commerce and Industry, LCCI, yesterday, urged the Federal Government to unveil its economic blueprint in order to stem the tide of declining investor’s confidence in the economy. In a communique by the LCCI council meeting, chaired by the president, Alhaji Remi Bello, the Council alleged that there was yet no clarity in the policy direction of the government, which is a major factor for investor’s confidence. “The uncertainty that began in January this year seems to have lingered. Council urged the Buhari administration to make a clear pronouncements with respect to its fiscal policy, foreign exchange policy, tax policy, subsidy policy, trade policy, reform of oil and gas sector (upstream and downstream), the power sector, the 2015 Budget, the auto policy, sectoral policies etc. All these are necessary for the investors to have a clear insight into the policy direction of the government and take strategic investment decisions,” the council said. It also noted the current macro-economic challenges facing the nation, especially the decline in foreign exchange inflow, adding that the numerous efforts by the Central Bank of Nigeria to protect the foreign reserves and stabilize the exchange rate were acknowledged. “However, Council expressed concern over CBN’s current methodology in achieving these objectives. CBN’s current model of foreign exchange management has profound negative consequences for investors’ confidence,” the LCCI council said. www.vanguardngr.com/2015/08/lcci-urges-fg-to-unveil-its-economic-blueprints/ |
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