LCCI commends lifting of visa by UAE

  1. ..Calls on FG to open dedicated website on business opportunities in China,India others

The Lagos Chamber of Commerce and Industry (LCCI) has commended the federal government over the lifting of visa restrictions on the country adding that it has taken note of the governments participation at the just concluded G20 summit in New Delhi, India.
In a statement signed by its President,Michael Olawale Cole,the Chamber commended Federal governments participation adding that “is a testament to the President’s strong leadership, as acknowledged by other world leaders.”

Said he,” Nigeria’s invitation to the G20 Summit shows the nation’s strategic importance on the global stage and its capacity as the largest democracy and economy in Africa.”
To further demonstrate and complement President Tinubus rapport with other leaders, the institute called on the government to take steps towards creating a website on investment opportunities in India,China and other countries.
Full statement:
At the event, President Bola Tinubu expressed Nigeria’s commitment to play a significant role within the G-20 and contribute to shaping a more equitable world. He called for global unity and cooperation in tackling pressing challenges, fostering inclusiveness, and establishing a fairer world order.

The President maximized the opportunity of this meeting with the United Arab Emirates leader, Mohamed bin Zayed Al Nahyan, to equally advance his investment promotion objectives with high-level authorities in the public and private sectors of the United Arab Emirates. This culminated in the lifting of the Visa ban on Nigerians by the UAE, which is commendable as it will open up opportunities and enhance the ease of business between the two nations.

The outcome of the meetings President Bola Tinubu had with the leaders of the US, Germany, and South Korea, alongside the Indian investors, who have committed to providing a substantial sum of $14 billion in direct investments in critical sectors encompassing steel, petrochemicals, electricity, and agriculture, have instilled a sense of pride in the Organized Private Sectors (OPS) and Nigerians at large. These proposed investments are certain to have positive impacts on job creation, economic development, and the diversification of the nation’s economy.

However, LCCI would appreciate it if the President’s team would follow the example of India, Saudi Arabia, and China by establishing dedicated websites that provide useful information on investments. These websites should include details on the areas in which investments are required and the funds needed for each project. This strategy has the potential to provide global investment opportunities without necessitating excessive or unnecessary physical interactions/ movements. In addition, domestic players in each area will be provided with the chance to get accurate knowledge on the current industry status, including the projected number of agreements and investments in each sector. Such platforms will function as reliable information and metrics for evaluating performance and as a foundation for developing policies aimed at incentivizing industries that lack investment interest.

The Chamber expresses its satisfaction with the bestowal of permanent member status upon the African Union by the G20, a development that will enhance the continent’s influence and participation in global governance.

The President is on course in addressing issues confronting us as a Nation, and the Organized Private Sector in Nigeria supports these actions. The Chamber also congratulates the President on his 100 days in office and urges him to remain focused on his efforts to make both private and public sectors in Nigeria work well for the people.

President / Chairman of Council
Lagos Chamber of Commerce and Industry (LCCI)
12th September 2023.

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