The Chamber of Commerce and Lagos Industry (LCCI) has urged the Federal Government to remain committed to its proposed programs and continuous economic reforms to allow Nigerians to obtain the benefits of democracy without further delay.
The Chamber did the plea on Thursday while reacting to the democracy day speech of President Bola Tinubu.
The group, in a statement signed by its general director, Dr. Chinyere Almona, also asked the National Government to guarantee clear and consistent communication on economic reforms and policies to companies and the public.
He argued that by reducing uncertainty, generating confidence and establishing transparent mechanisms for monitoring and informing the progress made through reforms, the government could obtain the support of many Nigerians for their policies and reforms.
The Chamber also urged the Federal Government to provide objective support, in the form of non -monetary interventions, companies to reduce their cost loads.
The Commercial Defense Group asked the Government to expand social security networks to support households affected by high costs of life and inflation, during this transition period, and increase the financing of public services, such as medical care, education and social welfare.
“The Government must also implement programs that support the fundamental strategic sectors for employment creation, tax revenues and infrastructure development. Petroleum and Gas, Energy and Agriculture sectors require special attention, since they offer catalytic support to the economy.
“It should support more through directed financing, access to energy and market reforms. Micro, small and medium enterprises (MSME) form the backbone of Nigeria's economy, but face limited access to credit and infrastructure,” he said.
The Chamber emphasized the need for the Government to remain sensitive to the concerns and comments of the private sector (PAHO) and participate in more consultations, to allow it to achieve a better implementation of its policies.
In the president's democracy day speech, the Chamber described the speech as underlining the appreciation of the Government of Democracy, economic development, security and social cohesion.
While congratulating the Nigerians for the peaceful transition and commitment to democratic values ​​in the last twenty -six years, the Chamber said that a stable political environment has become very crucial, since it improves business success and attracts investments.