Q1 Economy In Review Looking At LCCI’s Report

There is no doubt the private sector plays a critical role in the delivery of democracy dividends, especially with regard to job creation and the general improvement in the welfare of the citizens.

For this to happen, the operating environment for investors must be favourable.

That’s according to the Director-General of the Lagos Chamber Of Commerce and Industry, LCCI, Mr Muda Yusuf.

Mr Yusuf, who was our guest on Business Morning on Tuesday, spoke on the chamber’s recent review of the Nigerian economy for the first quarter of the year.

He pointed out that the continuing tightening of monetary policy which they say had put pressure on the interest rate meaning that lending rate to the investors in the economy remains high during the period under review.

On the investment climate condition in the first quarter, he also noted that the power supply situation deteriorated compelling many investors to rely on alternative sources of power supply which adversely affected the capacity utilisation of most industries.