Covid-19: Lagos Chamber Calls on Government to Restrategize Plans to Avert Economic Collapse

Israel Bolaji

The Lagos Chamber of Commerce and Industry (LCCI) has charged the Nigerian government to urgently rejig its plans for mitigating the effect of Coronavirus pandemic on businesses and the Nigerian economy, in order to avoid a total collapse.

The President of the Chamber, Mrs Toki Mabogunje made this urgent call at a press conference in Lagos on Tuesday.

Mabogunje said, “While we commend the government on the various measures already put in place to cushion the effect of this pandemic both on individuals and businesses, we are concerned that the current approaches used in implementing some of these measures would not yield the desired result.

“There is, therefore, a need for strategizing and ensuring proper coordination both at the states and federal level.”

Pointing out some key areas for urgent intervention, she urged” the government to focus on the completion of critical infrastructure projects nationwide such as the Lagos-Ibadan expressway, Lagos-Ibadan rail project, Enugu Airport, the Second Niger Bridge, East-West Road, among others.

“Also, there should be an upgrade of power and broadband infrastructure across the country in order to support ICT and the digital economy.

These public goods would have a significant positive impact on commercial activities and businesses as they reduce the cost of doing business and boost productivity.”

“Finally, we strongly urge engagement of the private sector by regulatory institutions and agencies of government in addressing national economic issues so that intended benefits are achieved for the common good.

The private sector should be encouraged and incentivized to contribute to investment in infrastructural development, she concluded.