Finding solution to risks in raising banks’ Loan to Deposit Ratio
In developing economies, the key to socio-economic growth is access to finance, but the challenge is to increase loans to individuals and SMEs without suffering the fall-out of bad debt. Few months ago, the Central Bank of Nigeria (CBN) increased…
Seme border closure killing ECOWAS treaty, genuine businesses—Stakeholders’
A number of Nigerian industries surviving on distribution of their products within ECOWAS states are beginning to feel the brunt of Seme Border closure by the Federal Government as goods worth billion of naira had been held either at the…
LCCI hails CBN over banks’ minimum Loan Deposit Ratio of 60 per cent
More reactions have continued to trail the recent reform directive issued by the Central Bank of Nigeria (CBN) to money deposit banks that with effect from September 30, every money deposit bank must maintain a minimum Loan Deposit Ratio of…
Forex rate multiplicity inimical to sustainable economic diversification—LCCI
Lagos Chamber of Commerce and Industry (LCCI), has joined the league of business groups calling for end to the current multiplicity of rates for foreign exchange in Nigeria, saying, “The current multiplicity of rates is inimical to sustainable economic diversification.”…
NADDC boss defers with LCCI DG on national auto policy
At a time the Director-General of the National Automotive Design and Development Council (NADDC), Mr Jelani Aliyu is calling on the Federal Government to make a legislation that would turn the prevailing auto policy into law, the Director General, Lagos…
Is FG running out of economic recovery and growth ideas?
In view of recent outbursts of economic development pundits on the current state of the Nigerian economy, their aggregate argument seems to suggest that either the Federal Government’s Economic Recovery and Growth Plan (ERGP) is not yielding results or the…
Forex ban on textile doom for businesses in fashion, garment industry—LCCI
The Director General of Lagos Chambers of Commerce and Industry (LCCI), Mr. Muda Yusuf has decried the negative multiplier effects of the recent inclusion of textile and allied materials in the growing list of 44 items under official restriction on…
Conflicting facts on local rice production worry Nigerians
Last week, figures from the United States Department of Agriculture have shown that Nigeria’s local rice production in the coming year would be under serious pressure. Otherwise, the data projected that Nigeria’s rice production will drop from $2.48bn to $2.40bn…
Dangote refinery can’t pose threat to international refiners on delivery—Yusuf
…Explains why no investor can survive building refinery with credits from local banks The Director General of Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf has argued that the coming on stream of Dangote Refinery in Lekki Free…
Zero per cent growth rate in manufacturing sector worrisome—DG LCCI
The Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, and other industry players, who reviewed the executive summary of the 2017 economic review released by the Manufacturers Association of Nigeria, have confirmed that the manufacturing…
