LCCI calls on President Buhari to sign AfCFTA, Open NIPC Office in Lagos

Business News

“We are of the view that the Nigerian economy has more to gain by being part of the economic integration process at the regional level (ECOWAS) and at the continental level (AFCFTA).”

Mr. Babatunde Paul, President of Lagos Chamber of commerce and Industry, LCCI, said today at a special press briefing which he said that it is to set an agenda for the administration of President Muhammed Buhari, in his second term.

“The LCCI is aware that there are arguments for and against Economic Integration, either at regional or continental level.

“We appreciate the concerns of the manufacturers on competitiveness issues, especially arising from possible non-adherence to the rule of origin by some of the participating countries.

“We , therefore, urge that as this administration gets into its second term, appropriate safe guard measures should be put in place to protect vulnerable sectors of the economy and to also ensure that there is effective enforcement of the rules of origin.

“Once this is done, we request that Nigeria signs the AFCFTA,” he said.



The LCCI President also called on the federal government to establish NIPC office in Lagos for the purpose of attending to the needs of investors.

“We are worried that the Nigerian Investment Promotion Commission [NIPC] has no office in Lagos which is the commercial nerve centre of Nigeria.

“The implication of this is that private sector players have been shuttling between Lagos and Abuja for various approvals from the NIPC.

“The interface of the NIPC is frequent and critical to achieving the objective of promoting investment and creating jobs.

“We urge the government to intervene in correcting this unusual situation.

“We need a Lagos NIPC office that will have the powers to substantially attend to all needs of investors,” he said.

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