The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to implement a robust industrialization strategy to strengthen local manufacturing and drive sustainable economic growth.LCCI Director General, Chinyere Almona, FCA, … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader LCCI urges FG to prioritize industrialization for sustainable growth By Busola Bamidele on February 28, 2025 The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to implement a robust industrialization strategy to strengthen local manufacturing and drive sustainable economic growth. LCCI Director General, Chinyere Almona, FCA, emphasized the need for policy reforms to sustain Nigeria's economic momentum, following a GDP growth of 3.40% in 2024, up from 2.74% in 2023. According to the National Bureau of Statistics (NBS), the GDP grew by 3.84% in Q4 2024, reflecting steady progress. Read also: LCCI urges FG to prioritize industrialization for sustainable growth Nigeria targets $1.5bn growth from Halal market expansion Nigeria boosts agrochemical production with new springfield plant FG denies import impact on food prices, calls for agricultural investment NAFDAC unveils greenbook to fight fake drugs Despite the improvement, LCCI raised concerns over the weak performance of the manufacturing and agriculture sectors, warning that Nigeria's dependence on trade and services could hinder long-term economic stability. The chamber also highlighted the minimal contribution of the oil sector, despite a slight recovery in the last quarter.

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