LCCI backs Tinubu’s factory revival plan, seeks swift action
The Lagos Chamber of Commerce and Industry (LCCI) has expressed support for President Bola Tinubu’s initiative to revive moribund factories in Nigeria. The LCCI urged the government to prioritize infrastructure, energy costs, and financing to boost domestic manufacturing and employment.
Why it matters
Industrial revitalization is considered essential for Nigeria to reduce import dependence and stimulate broader economic growth.
The Lagos Chamber of Commerce and Industry (LCCI) has welcomed President Bola Tinubu’s commitment to bringing moribund factories back to life, describing industrial revival as critical to creating jobs, boosting productivity and delivering broad-based prosperity.
In a statement reacting to the President’s speech on Nigeria’s 66th Independence anniversary, LCCI President, Engr. Leye Kupoluyi, said the next phase of economic reforms must translate macroeconomic gains into stronger business activity, increased production and improved household incomes.
“We strongly welcome the President’s commitment to bringing factories back to life, using Nigeria’s gas resources to power industries, improving access to infrastructure and finance, and promoting Nigerian-made products,” Kupoluyi said.
He stressed that Nigeria could not achieve mass employment and sustainable prosperity without a strong manufacturing base.
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