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LCCI canvasses FG’s support for strategic industries


LCCIThe Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government (FG) to provide special support mechanisms to strategic companies and industries that play critical roles in achieving inclusive economic growth.

In a statement made available to Vanguard, Director General of LCCI, Dr Chinyere Almona, attributed recent improvements recorded in the nation’s economy to the game-changing interventions of key players in the private sector, notably Dangote Refinery and Air Peace Airline.

Her words: “As Nigeria strives to stabilize prices, boost foreign exchange (FOREX) inflows, and attract Foreign Direct Investments (FDIs), it is imperative to recognize the pivotal role that certain companies play in driving growth, fostering innovation, and creating employment opportunities.

“These strategic companies, often operating in key sectors such as manufacturing, agriculture, technology, and infrastructure, serve as the backbone of the economy, contributing significantly to its stability and resilience.”

Almona noted the significant impact that Dangote Refinery is beginning to make on Nigeria’s economy, particularly in achieving national self-sufficiency in the production of diesel and aviation fuel.

She said: “It was reported that with 100 million litres of diesel pumped into the market last week, the Dangote Refinery helped crash the price of diesel from about N1,800 to N1,225 per litre.

“With another tranche of supply in the coming days, the price of diesel is expected to drop to a low of about N1,000 per litre.”

She equally acknowledged the game-changing intervention from the commencement of international flights to the United Kingdom by Air Peace.

“This has become a delight to Nigerian travelers as this has forced foreign airlines to crash their prices by about 60 percent in response to the cheaper rates by Air Peace”, she added.

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